Audited Results
for the year ended 31 March 2008

Income statement

    12 months   12 months  
    ended   ended  
    31 March 2008   31 March 2007  
    Rm   Rm  
  Notes Audited % Change Audited  
Revenue   3 596.4 8.2% 3 323.5  
Merchandise sales   1 889.7   1 808.8  
Finance charges earned   794.9   776.7  
Insurance premiums earned   564.2   464.7  
Ancillary services   347.6   273.3  
Cost of merchandise sales   (1 272.1)   (1 194.0)  
Operating costs   (1 393.9)   (1 269.6)  
Employment costs   (504.2)   (485.6)  
Administration and IT   (167.0)   (162.3)  
Debtor costs 2 (190.4)   (147.9)  
Marketing   (107.1)   (106.9)  
Occupancy costs   (135.1)   (116.7)  
Transport and travel   (127.3)   (109.2)  
Depreciation   (40.9)   (38.9)  
Other operating costs   (121.9)   (102.1)  
           
Operating profit   930.4 8.2% 859.9  
Investment income   71.7   42.7  
Profit before finance costs   1 002.1   902.6  
Net finance costs 3 (56.8)   (12.4)  
Profit before taxation   945.3   890.2  
Taxation   (303.0)   (291.9)  
Net profit attributable to ordinary shareholders 642.3 7.4% 598.3  
Reconciliation of headline earnings          
Net profit attributable to ordinary shareholders   642.3   598.3  
Adjusted for          
  Surplus on disposal of property, plant and equipment   (4.5)   (3.8)  
  Surplus on disposal of available-for-sale assets   (22.1)   (1.6)  
  Taxation   2.2   1.3  
Headline earnings   617.9 4.0% 594.2  
Number of ordinary shares (000)          
In issue   99 158   100 000  
Weighted average   89 583   92 062  
Fully diluted weighted average   89 803   92 458  
Earnings per share (cents)   717.0 10.3% 649.9  
Headline earnings per share (cents)   689.8 6.9% 645.4  
Fully diluted earnings per share (cents)   715.2   647.1  
Fully diluted headline earnings per share (cents) 688.1   642.7  
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