Audited Results

for the year ended 31 March 2009

Income statement

    12 months   12 months
    ended   ended
    31 March 2009   31 March 2008
    Rm   Rm
  Notes Audited % Change Audited
Revenue   3 807.1 5.9% 3 596.4
Merchandise sales   1 919.9   1 889.7
Finance charges earned   826.6   794.9
Insurance premiums earned   581.4   564.2
Ancillary services   479.2   347.6
Cost of merchandise sales   (1 318.3)   (1 272.1)
Operating costs   (1 648.5)   (1 393.9)
Employment costs   (538.4)   (504.2)
Administration and IT   (173.1)   (167.0)
Debtor costs 2 (338.8)   (190.4)
Marketing   (124.0)   (107.1)
Occupancy costs   (150.5)   (135.1)
Transport and travel   (138.8)   (127.3)
Depreciation   (45.8)   (40.9)
Other operating costs   (139.1)   (121.9)
         
Operating profit   840.3 (9.7%) 930.4
Investment income   76.9   71.7
Profit before finance costs   917.2   1 002.1
Net finance costs 3 (86.5)   (56.8)
Profit before taxation   830.7   945.3
Taxation   (263.7)   (303.0)
Net profit attributable to ordinary shareholders   567.0 (11.7%) 642.3
         
Reconciliation of headline earnings        
Net profit attributable to ordinary shareholders   567.0   642.3
Adjusted for:        
  Surplus on disposal of property, plant and equipment   (3.6)   (4.5)
  Surplus on disposal of available-for-sale assets   (2.6)   (22.1)
  Taxation   1.2   2.2
Headline earnings   562.0 (9.0%) 617.9
         
Number of ordinary shares (000)        
In issue   98 058   99 158
Weighted average   88 209   89 583
Fully diluted weighted average   88 633   89 803
Earnings per share (cents)   642.8 (10.3%) 717.0
Headline earnings per share (cents)   637.1 (7.6%) 689.8
Fully diluted earnings per share (cents)   639.7   715.2
Fully diluted headline earnings per share (cents)   634.1   688.1
         
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