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Lewis Group Unaudited Interim Results
for the six months ended 30 September 2006
key ratios for the group |
6 months | 6 months | 12 months | |||||||||
| ended | ended | ended | ||||||||||
| 30 Sept 2006 | 30 Sept 2005 | 31 March 2006 | ||||||||||
| Returns | ||||||||||||
| Normalised return on average equity | 23.0% | 21.0% | 23.2% | |||||||||
| Normalised return on average capital employed | 20.2% | 19.4% | 22.1% | |||||||||
| Margins | ||||||||||||
| Merchandise gross profit % | 34.3% | 35.5% | 34.9% | |||||||||
| Normalised operating margin % | 23.9% | 23.2% | 25.3% | |||||||||
| Productivity ratios | ||||||||||||
| Number of stores | 493 | 478 | 490 | |||||||||
| Revenue per store (R000’s) | 3 134 | 2 787 | 5 866 | |||||||||
| Normalised operating profit per store (R000’s) | 748 | 647 | 1 487 | |||||||||
| Number of employees (average) | 6 126 | 5 818 | 5 879 | |||||||||
| Revenue per employee (R000’s) | 252 | 229 | 489 | |||||||||
| Normalised operating profit per employee (R000’s) | 60 | 53 | 124 | |||||||||
| Trading space (sqm) | 211 362 | 206 501 | 210 201 | |||||||||
| Revenue per sqm (R) | 7 310 | 6 451 | 13 675 | |||||||||
| Normalised operating profit per sqm (R) | 1 745 | 1 498 | 3 466 | |||||||||
| Stock turn (annualised) | 4.5 | 3.8 | 4.8 | |||||||||
| Credit ratios | ||||||||||||
| Cash and short term credit sales % of total sales | 31.5% | 30.8% | 29.9% | |||||||||
| Debtor costs as a % of the gross debtors book | 2.3% | 1.9% | 4.0% | |||||||||
| Doubtful debts provision as a % of gross | ||||||||||||
| instalment receivables | 12.9% | 14.2% | 12.6% | |||||||||
| Total debtors provisions as a % of gross | ||||||||||||
| instalment receivables | 36.4% | 36.6% | 36.3% | |||||||||
| Credit applications decline rate | 20.7% | 24.6% | 22.4% | |||||||||
| Average age of book (months) | 14.0 | 14.5 | 14.3 | |||||||||
| Arrear % (full contractual) | 22.5% | 25.0% | 22.0% | |||||||||
| Solvency and liquidity | ||||||||||||
| Dividend cover | 2.25 | 2.50 | 2.25 | |||||||||
| Gearing ratio | 17.1% | 7.0% | 4.6% | |||||||||
| Current ratios | 2.9 | 3.3 | 3.9 | |||||||||
| Cash conversion ratio | 88.6% | 98.3% | 81.4% | |||||||||
| Net asset value per share (cents) | 2 470 | 2 212 | 2 425 | |||||||||
| Notes: | ||||||||||||
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