Audited Final Results

for the year ended 31 March 2007

Income statement

      12 months 12 months  
      ended ended  
      31 March 2007 31 March 2006  
      Rm Rm  
  Notes   Audited Audited  
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     464.7 400.4  
Ancillary services     273.3 231.9  
Cost of merchandise sales 2   (1 194.0) (1 020.6)  
Operating costs     (1 269.6) (1 183.7)  
Employment costs     (481.6) (439.9)  
Share-based payments     (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     859.9 670.2  
Investment income     42.7 28.9  
Profit before finance costs     902.6 699.1  
Net finance costs 3   (12.4) (12.8)  
Profit before taxation     890.2 686.3  
Taxation     (291.9) (237.6)  
Net profit attributable to ordinary shareholders   598.3 448.7  
Reconciliation of headline earnings          
Net profit attributable to ordinary shareholders     598.3 448.7  
Adjusted for          
  Surplus on disposal of property, plant and equipment     (3.8) (6.0)  
  Surplus on disposal of available-for-sale assets     (1.6) (5.8) 
  Impairment of available-for-sale assets     – 12.3 
  Taxation     1.3 2.8  
Headline earnings     594.2 452.0  
Number of ordinary shares (000)          
In issue     100 000 100 000  
Weighted average     92 062 97 300  
Fully diluted weighted average     92 458 97 501  
Earnings per share (cents)     649.9 461.2  
Headline earnings per share (cents)     645.4 464.5  
Fully diluted earnings per share (cents)     647.1 460.2  
Fully diluted headline earnings per share (cents)   642.7 463.6  
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