Annual financial statements: Ten year review


		31 August 2009	31 August 2008	31 August 2007^#	31 August 2006	31 August 2005*	31 August 2004	31 August 2003	31 August 2002	12 months 31 August 2001	14 months 31 August 2000
Share performance
Total shares in issue	‘000	170 500	170 500	180 000	178 000	175 500	172 000	166 830	112 730	112 609	111 651
Weighted average number of shares in issue	‘000	163 245	169 807	177 861	176 271	172 221	166 930	133 196	112 070	111 484	110 322
Headline earnings per share	cents	44,4	301,0	621,7	823,5	697,6	518,5	340,5	226,5	353,2	301,8
Cash equivalent dividends per share	cents	41,0	152,0	303,0	412,0	352,0	240,0	110,0	56,0	94,0	78,0
Dividend cover	times	1,1	2,0	2,1	2,0	2,0	2,0	3,1	3,8	2,6	3,9
Net asset value per share	cents	2 833,5	2 822,9	2 804,5	3 160,5	2 717,0	2 297,0	2 033,0	1 715,1	1 695,9	1 531,5
Profitability, liquidity and gearing
Revenue	Rm	12 922	12 610	12 914	11 939	9 933	9 056	5 966	4 083	3 788	3 928
Operating profit	Rm	646	797	1 591	2 024	1 755	1 256	747	467	657	565
Profit before finance costs	Rm	643	813	1 662	2 083	1 809	1 280	762	478	665	572
Profit attributable to shareholders	Rm	75	514	1 113	1 457	1 202	784	449	241	275	335
Closing shareholders’ equity	Rm	4 831	4 813	5 048	5 626	4 768	3 951	3 392	1 933	1 910	1 710
Average shareholders’ equity	Rm	4 822	4 931	5 337	5 197	4 360	3 671	2 663	1 922	1 810	1 575
Net interest bearing debt	Rm	639	158	76	(304)	(457)	(19)	894	1 048	802	709
Average total assets less non-interest bearing debt	Rm	6 447	6 426	7 030	7 028	6 035	5 308	4 224	3 557	3 241	2 509
Total assets	Rm	8 926	8 673	8 891	10 115	8 440	7 739	7 185	4 243	4 529	3 499
Operating margin	%	5,0	6,3	12,3	17,0	17,7	13,9	12,5	11,4	17,3	14,4
Profit attributable to shareholders on revenue	%	0,6	4,1	8,6	12,2	12,1	8,7	7,5	5,9	7,3	8,5
Return on closing shareholders’ equity	%	1,5	10,7	22,1	25,9	25,2	19,9	13,2	12,5	14,4	19,6
Return on average shareholders’ equity	%	1,6	10,4	20,9	28,0	27,6	21,4	16,9	12,5	15,2	21,3
Return on assets managed	%	10,0	12,7	23,7	29,6	30,0	24,1	18,1	13,4	20,5	22,8
Interest cover	times	7,3	9,6	11,0	21,9	12,7	8,8	4,9	2,7	6,6	6,5
Gearing ratio	%	13,2	3,3	1,5	(5,4)	(9,6)	(0,5)	26,3	54,2	42,0	41,5
Current ratio	:1	2,6	2,3	2,9	3,4	3,6	3,1	2,6	4,0	4,1	4,8
Shareholders’ equity to total assets	%	54,1	55,5	56,8	55,6	56,5	51,1	47,2	45,6	42,2	48,9
Productivity
Number of stores		1 094	1 095	1 078	1 028	963	952	978	695	684	671
Revenue per store	R000	11 812	11 516	11 980	11 614	10 315	9 513	6 100	5 875	5 538	5 855
Number of employees		21 247	18 989	19 577	18 361	16 459	16 167	15 738	10 064	9 984	9 704
Revenue per employee	R000	608	664	660	650	603	560	379	406	379	405
Stock exchange performance
Closing share price	cents	4 249	3 010	6 970	6 660	7 400	4 550	3 161	1 675	4 050	4 860
Number of shares traded	‘000	265 525	281 087	293 949	271 264	167 697	137 612	73 828	56 740	53 420	69 142
Value of shares traded	Rm	9 587	11 781	22 976	20 383	10 634	5 552	1 716	1 466	2 107	3 021
Volume traded as % of issued shares	%	155,7	160,6	165,1	152,4	95,6	80,0	44,3	50,3	47,4	61,9
Market value per share
– high	cents	5 020	7 100	10 600	9 625	7 800	4 690	3 180	4 060	4 905	5 500
– low	cents	2 216	2 101	5 920	5 939	4 659	2 950	1 440	1 300	2 990	3 100

All ratios have been calculated using amounts in R000s as opposed to Rm.
#	The 2007 comparatives have been restated for the change in the basis of accounting for insurance premiums and initiation fees. Prior years have not been restated for the new basis of accounting.
*	The 2005 comparatives have been restated to reflect the changes required to comply with the new or revised International Financial Reporting Standards (IFRS). Prior years have not been restated to reflect the changes required to comply with IFRS.