WELCOME TO OUR ONLINE ANNUAL REPORT 2011

Income statement
for the year ended 26 June 2011

    2011 2010
  Notes Rm Rm
Revenue 4 53,089.5 47,550.6
Sales   52,950.1 47,451.0
Cost of sales   (43,281.8) (38,955.9)*
Gross profit   9,668.3 8,495.1
Other income 4 139.4 99.6
Depreciation and amortisation   (476.3) (382.8)
Impairment of assets 5 (10.0) (3.7)
Employment costs   (3,766.3) (3,352.9)
Occupancy costs   (1,664.7) (1,415.1)*
Foreign exchange loss 7 (72.3) (87.7)*
Other operating costs   (1,759.4) (1,485.8)*
Operating profit before Transaction costs   2,058.7 1,866.7
Transaction costs 6 (408.8)
Loss on disposal of Makro Zimbabwe 8 (38.6)
Operating profit 6 1,611.3 1,866.7
  Finance costs 9 (140.4) (92.6)
  Finance income 9 33.2 45.9
Net finance costs   (107.2) (46.7)
Profit before taxation   1,504.1 1,820.0
Taxation 10 (585.3) (608.2)
Profit for the year   918.8 1,211.8
Profit attributable to:      
  Owners of the parent   838.7 1,129.9
  Preference shareholders   38.4 46.5
  Non-controlling interests 23 41.7 35.4
Profit for the year   918.8 1,211.8
Earnings per share (cents)      
Basic EPS 12 412.1 562.8
Diluted basic EPS 12 390.7 538.5
Dividend/distribution per share (cents)      
Interim   252.0 252.0
Final   134.0 134.0
Total 11 386.0 386.0
Headline earnings 12 881.9 1,138.6
Headline earnings before Transaction costs (taxed) 12 1,252.7 1,138.6
Headline EPS (cents) 12 433.3 567.2
Headline EPS before Transaction costs (taxed) (cents) 12 615.5 567.2
Diluted headline EPS (cents) 12 410.8 542.7
Diluted headline EPS before Transaction costs (taxed) (cents) 12 583.5 542.7
  • Foreign exchange movements relating to the cost of stock have been reallocated from ‘Foreign exchange loss’ to ‘Cost of sales’ in June 2010 (R76.6 million), in line with the Group’s accounting policy. Water and electricity charges have been reallocated from ‘Other operating costs’ to ‘Occupancy costs’ in June 2010 (R88.4 million) in line with the Group’s accounting policy.