ONLINE ANNUAL REPORT 2010

DEFINITIONS AND FORMULAS


 

Employment costs

Includes the IFRS 2 Share-based Payment expense.

Other operating costs

Includes the foreign exchange gains and losses.

Net finance costs

Interest received less interest paid.

EBITDA

Earnings before interest, taxation, depreciation, amortisation and asset impairments.

Trading profit before interest and taxation

Earnings before interest, taxation, asset impairments, the BEE IFRS 2 charge and foreign exchange movements.

Comparable sales

Sales figures quoted for stores that have traded, and will trade, for all 12 months of the current and prior year.

FTE (full-time equivalents)

Includes all permanent employees and the permanent equivalent of temporary employees and contracted workers.

Trading space (m2)

Trading space excludes parking, yard, warehouse space, office space and receiving areas.
 
 
 

Sales per store (R000)

 
 
  Sales  
  Number of stores  
 
  Sales for Shield, CellShack, Saverite, Kawena and Kangela are excluded as they do not have stores.  
     
 

Sales per FTE (R000)

 
 
  Sales  
  FTEs  
 
     
 

Sales per trading m2 (R000)

 
 
  Sales  
  Trading m2  
 
  Sales for Shield, CellShack, Saverite, Kawena and Kangela are excluded as they do not have stores.  
     
 

Net asset turn

 
 
  Sales  
  Net assets  
 
  The Group defines net assets as capital reserves and interest-bearing LT liabilities.  
     
 

Gross margin (%)

 
 
  Gross profit  
  Sales  
 
     
 
 

Operating margin (%)

 
 
  Operating profit  
  Sales  
 
     
 

Trading profit before interst and taxtation margin (%)

 
 
  Trading profit before interest and taxtation  
  Sales  
 
     
 

EBITDA margin (%)

 
 
  EBITDA  
  Sales  
 
     
 

Effective tax rate (%)

 
 
  Taxation  
  Profit before tax  
 
  Note 10 on page 180 of the financial section holds further information.  
     
 

Return on average shareholders' equity (%)

 
 
  Headline earnings  
  Average of opening and closing equity attributable to equity holders of the parent  
 
     
 

Return on capital employed (%)

 
 
  Operating profit before asset impairments  
  Average of opening and closing capital employed balances  
 
  The Group defines capital employed as capital and reserves and interest-bearing LT liabilities.  
     
 

Debt: Equity (%)

 
 
  Debt  
  Capital and reserves  
 
  Debt comprises non-current interest-bearing liabilities.  
     
 

Cash earnings cover

 
  Operating cash flow per share  
  Headline earnings per share  
     
 

Net cash to total equity (%)

 
 
  Cash and cash equivalents, net of borrowings  
  Total equity at the end of the year  
 
     
 

Current ratio

 
 
  Current assets  
  Current liabilities  
 
     
 

Quick ratio

 
 
  Current assets excluding inventory  
  Current liabilities  
 
 
 

Inventory days

 
  Inventory  
  Total cost of sales  
   
 

Inventory turn

 
  Trade payables  
  Total cost of sales  
   
 

Payable days

 
  Trade payables  
  Total cost of sales  
   
 

Asset turn

 
  Sales  
  Total assets  
   
 

Total liabilities to total equity

 
  Current and non-current liabilities  
  Total equity  
   
 

Headline earnings

 
  Headline earnings  
  Weighed average number of shares in issue  
   
 

Diluted headline earnings

 
  Headline earnings  
  Diluted weighted average number of shares in issue  
   
 

Attributable earnings

 
  Earnings attributable to the equity holders of the parent  
  Weighted average number of shares in issue  
   

Dividends/distribution

  Distribution to shareholders
   
 

Cash generated from operations before working capital movements

 
  Cash generated from operations before working capital movements  
  Weighted average number of shares in issue  
   
 

Operating cash flow

 
  Net cash flow from operations  
  Weighted average number of shares in issue  
  Net cash flow from operations is after working capital movements, and excludes exceptional items and dividends paid.
 

 

 

Net asset value

 
  Capital and reserves  
  Total number of shares in issue  
   
 

Dividend cover

 
  Headline earnings per share  
  Interim and final dividend per share  

back to top