| |
12 months |
12 months |
| |
ended |
ended |
| |
31 March 2009 |
31 March 2008 |
| Operating efficiency ratios |
|
|
| Merchandise gross profit % |
31.3% |
32.7% |
| Operating margin % |
22.1% |
25.9% |
| Number of stores |
535 |
525 |
| Number of permanent employees (average) |
6 480 |
6 696 |
| Trading space (sqm) |
223 102 |
220 236 |
| Inventory turn |
5.8 |
5.5 |
| Current ratios |
3.3 |
3.1 |
| Credit ratios |
|
|
| Cash and short-term credit sales % of total sales |
35.7% |
33.1% |
| Bad debts as a % of net debtors |
6.0% |
5.9% |
| Debtor costs as a % of the net debtors |
10.0% |
6.5% |
| Doubtful debt provision as a % of net debtors |
15.7% |
13.5% |
| Arrear instalments on satisfactory accounts as a percentage of net debtors |
9.5% |
10.6% |
| Arrear instalments on slow-paying and non-performing accounts as a percentage of net debtors |
20.9% |
19.3% |
| Doubtful debt provision on non-performing accounts |
71.3% |
69.6% |
| Credit applications decline rate |
25.4% |
22.5% |
| Shareholder ratios |
|
|
| Net asset value per share (cents) |
3 348 |
3 058 |
| Gearing ratio |
23.2% |
23.3% |
| Dividend cover |
1.8 |
2.0 |
| Return on average equity (after-tax) |
20.0% |
24.4% |
| Return on average capital employed (after-tax) |
17.7% |
21.4% |
| Return on average assets managed (pre-tax) |
22.9% |
27.8% |
| Notes: |
| 1. All ratios are based on figures at the end of the year unless otherwise disclosed. |
| 2. The net asset value has been calculated using 87 820 000 shares in issue (2008: 89 286 000). |
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