Financial results

Interim Results
For the six months ended 31 December 2010

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Commentary | Turnover analysis | Income statements | Segmental reporting | Balance Sheets
Statement of changes in equity | Cash flow statement | Notes | Store network


1. Commitments and contingencies
There are no material contingent assets or liabilities at 31 December 2010.
  Capital commitments at 31 December 2010: R'm

  – Contracted 29
  – Authorised, not contracted 90

  Total 119

2.  Share issue in lieu of dividend
As announced on 31 March 2010, as a consequence of the special dividend declaration on 18 February
2010, 123 532 370 shares were issued in lieu of dividend at the option of shareholders. This has impacted
on the comparability of certain figures, in particular earnings per share and net asset value per share.
As a result, adjusted headline earnings and net asset value per share figures have been presented for
comparative purposes (assuming the share issue in lieu of dividend took place at the beginning of the
2009 financial year).

3.  Associate accounting
During the current period, the Group began accounting for an existing investment in Eezetile, a national manufacturer of adhesive, grout and related products, in accordance with the equity accounting requirements of IAS 28, Investments in associates

4.  Changes in accounting policy
The accounting policies adopted and methods of computation are consistent with those of the previous financial year except for the adoption of new and amended IFRS and IFRIC interpretations which became effective during the current financial year. The application of these standards and interpretations did not have a significant impact on the Group’s reported results and cash flows for the six months ended 31 December 2010 and the financial position at 31 December 2010.