Pick n Pay Logo Annual Report 2008
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contents
Commentary
Pick n Pay Holdings Limited and its Subsidiaries
Directors’ Responsibility
Directors’ Approval
Company Secretary's certificate
Independent Auditor’s Report
Directors’ Report
Income Statements
Balance Sheets
Statements of Changes in Equity
Cash Flow Statements
Notes to the AFS
Pick n Pay Stores Limited and its Subsidiaries
Divisional Directors
Pick n Pay Stores Limited
Pick n Pay Holdings Limited
Proxies
Pick n Pay Stores Limited
Pick n Pay Holdings Limited
 
Election to Receive Annual
& Interim Reports
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Income statements
for the year ended 28 February 2009
 
Pick n Pay Holdings Limited and its subsidiaries
 
      GROUP   COMPANY  
      2009  
    2008  
  2009  
    2008  
 
      Rm       Rm     Rm       Rm    
  Notes         Restated*              
Continuing operations                        
Revenue 1   50 135.8     42 677.6     395.7     356.4    
Turnover     49 862.1       42 474.3     —       —    
Cost of merchandise sold     (40 404.7)      (34 216.2)    —       —    
Gross profit     9 457.4       8 258.1     —       —    
Other trading income 1   201.8       158.3     —       0.4    
Trading expenses     (7 958.9)      (6 894.3)    —       —    
Employee costs     (4 624.0)      (4 050.3)    —       —    
Occupancy     (1 071.2)      (971.4)    —       —    
Operations     (1 414.1)      (1 198.0)    —       —    
Merchandising and administration     (849.6)      (674.6)    —       —    
Loss on sale of equipment and vehicles     (13.7)      (4.4)          —   
Trading profit     1 686.6       1 517.7     —       0.4    
Interest received     71.9       45.0     —       —    
Interest paid     (107.5)      (79.2)    —       —    
Profit on sale of property     68.7       —     —       —    
Profit on sale of stores     15.1       47.0     —       —    
Operating profit     1 734.8       1 530.5     —       0.4    
Dividends received     —       —     395.7       356.0    
Impairment of investment in associate     —       (9.1)    —       —    
Profit before tax     1 734.8       1 521.4     395.7       356.4    
Tax     (568.0)      (556.4)    —       (0.1)   
Profit for the year from continuing operations     1 166.8       965.0     395.7       356.3    
Loss for the year from discontinued operation     (118.5)      (31.3)    —       —    
Profit for the year     1 048.3       933.7     395.7       356.3    
Profit for the year attributable to:                        
Equity holders of the Company     571.9       518.7     395.7       356.3    
Minority shareholders     476.4       415.0     —       —    
      1 048.3     933.7     395.7     356.3    
Earnings/(losses) per share – cents                        
Basic 3   111.11       101.18              
Continuing operations     123.66       104.57              
Discontinued operation     (12.55)      (3.39)             
Diluted 3   108.78       96.58              
Continuing operations     121.20       99.92              
Discontinued operation     (12.42)      (4.34)             
* Please refer to note 31 of Pick n Pay Stores Limited’s financial statements for details of the restatement of prior year figures.
 
 
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