annual report
2007

income statement
for the year ended 31 March 2007


      group
        2007   2006  
  Notes   Rm Rm  
Revenue       3 323.5 2 874.5  
Merchandise sales       1 808.8   1 567.8  
Finance charges earned       776.7 674.4  
Insurance premiums earned 15     464.7 400.4  
Ancillary services       273.3   231.9  
Cost of merchandise sales 16     (1 194.0)   (1 020.6)  
Operating costs       (1 269.6)   (1 183.7)  
Employment costs 17.1     (481.6)   (439.9)  
Share-based payments 17.2     (4.0)   (58.7)  
Administration and IT       (162.3)   (152.3)  
Bad debts written off       (138.4)   (132.9)  
Doubtful debt charge       (9.5)   17.4  
Marketing       (106.9)   (89.1)  
Occupancy costs       (116.7)   (98.3)  
Transport and travel       (109.2)   (98.4)  
Depreciation       (38.9)   (35.0)  
Other operating costs       (102.1)   (96.5)  
             
Operating profit 19     859.9   670.2  
Investment  income 20     42.7   28.9  
Profit before finance costs       902.6   699.1  
Net finance costs       (12.4)   (12.8)  
Interest paid 21.1     (29.6)   (13.4)  
Interest received 21.2     4.0   5.9  
Forward exchange contracts 21.3     13.2   (5.3)  
             
Profit before taxation       890.2   686.3  
Taxation 22     (291.9)   (237.6)  
Net profit attributed to ordinary shareholders       598.3   448.7  
Earnings per share (cents) 23     649.9   461.2  
Diluted earnings per share (cents) 23     647.1   460.2  
Dividends paid per share (cents)       253.0   162.0  
Dividends declared per share (cents)       266.0   225.0