Financial results

Reviewed Group Results
For the year ended 30 June 2011

Download the entire paid announcement 

Commentary | System-wide turnover analysis | Abridged Group statements of comprehensive income 
Abridged Group statements of financial position | Group statement of changes in equity | Segmental report 
Abridged Group cash flow statement | Store Network | Notes


1.   Commitments and contingencies    
  There are no material contingent assets or liabilities at 30 June 2011.    
  Capital commitments at 30 June 2011   Rm  
  – Contracted   27  
  – Authorised, not contracted   83  
  Total   110  
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. As a result, adjusted headline earnings per share has been presented for comparative purposes (assuming the share issue in lieu of dividend took place at the beginning of the 2010 financial year).  
3.   Associate accounting  
  During the year, the Group began accounting for an existing investment in Ezee Tile, a national manufacturer of adhesive, grout and related products, in accordance with the equity accounting requirements of IAS 28, Investments in associates. Management is of the opinion that significant influence over the operations of Ezee Tile was attained during the year, triggering the requirement to apply equity accounting for such.  
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 year ended 30 June 2011 and the financial position at 30 June 2011.  
    Reviewed   Audited  
    year to   year to  
    30 June   30 June  
    2011   2010  
5.   Earnings per share      
  Shares in issue: (all figures in millions)     
  – Total number of shares issued   1 033   1 033  
  – Shares held by Share Incentive Trust   26   24  
  – BEE treasury shares   88   88  
  Shares in issue to external parties   919   921  
  Reconciliation of headline earnings: (Rand millions)     
  – Profit attributable to equity shareholders   320   273  
  – (Profit)/loss on sale of property, plant and equipment   (2)  1  
  Headline earnings   318   274  
  Share numbers used for earnings per share calculations:
(all figures in millions)   
  – Weighted average number of shares   920   828  
  – Diluted weighted average number of shares   922   830  
  – Adjusted weighted average number of shares   920   921