Pick n Pay Holdings Limited and its subsidiaries

Statements of comprehensive income

for the year ended 29 February 2012

 

   

GROUP

 

COMPANY

 

Notes 

2012 
Rm 

2011 
Rm 

 

2012 
Rm 

2011 
Rm 

CONTINUING OPERATIONS 

                   

Revenue* 

   

55 634.4 

 

51 455.9 

   

329.4 

 

442.0 

Turnover* 

   

55 330.5 

 

51 185.0 

   

— 

 

— 

Cost of merchandise sold* 

   

(45 350.0)

 

(42 098.8)

   

— 

 

— 

Gross profit 

   

9 980.5 

 

9 086.2 

   

— 

 

— 

Other trading income 

   

264.4 

 

231.4 

   

— 

 

— 

Trading expenses 

   

(8 971.4)

 

(7 901.3)

   

(1.6)

 

(1.4)

Employee costs 

   

(4 658.5)

 

(4 319.8)

   

— 

 

— 

Occupancy 

   

(1 302.1)

 

(1 114.7)

   

— 

 

— 

Operations 

   

(2 149.4)

 

(1 642.8)

   

— 

 

— 

Merchandising and administration 

   

(861.4)

 

(824.0)

   

(1.6)

 

(1.4)

Loss on sale of property, equipment and vehicles and intangible assets 

   

(7.6)

 

— 

   

— 

 

— 

Trading profit/(loss)

   

1 265.9 

 

1 416.3 

   

(1.6)

 

(1.4)

Interest received 

   

39.5 

 

39.5 

   

— 

 

— 

Interest paid 

   

(135.1)

 

(111.0)

   

— 

 

— 

Gain on recognition of investment in associate 

   

— 

 

7.5 

   

— 

 

— 

Share of associate’s (loss)/income 

   

(1.9)

 

2.4 

   

— 

 

— 

Operating profit/(loss)

   

1 168.4 

 

1 354.7 

   

(1.6)

 

(1.4)

Dividends received 

   

— 

 

— 

   

329.4 

 

442.0 

Profit before tax 

   

1 168.4 

 

1 354.7 

   

327.8 

 

440.6 

Tax 

   

(407.7)

 

(447.8)

   

— 

 

— 

Profit for the year from continuing operations 

   

760.7 

 

906.9 

   

327.8 

 

440.6 

Profit/(loss) for the year from discontinued operation 

   

351.2 

 

(123.4)

   

— 

 

— 

Profit on sale of discontinued operation 

   

438.4 

 

— 

   

— 

 

— 

Loss for the year from discontinued operation 

   

(87.2)

 

(123.4)

   

— 

 

— 

Profit for the year 

   

1 111.9 

 

783.5 

   

327.8 

 

440.6 

Equity holders of the Company 

   

598.6 

 

423.7 

   

327.8  

 

440.6  

Non-controlling interest 

   

513.3 

 

359.8 

   

— 

 

— 

Other comprehensive loss (net of tax)

   

(358.3)

 

(14.6)

   

— 

 

— 

Exchange rate differences on translating foreign operations 

   

224.1 

 

50.1 

   

— 

 

— 

Net loss on hedge of net investment in foreign operation 

   

(49.9)

 

(52.2)

   

— 

 

— 

Foreign currency translation reserve realised on sale of discontinued operation 

   

(539.8)

 

— 

   

— 

 

— 

Retirement benefit actuarial gain/(loss)

   

7.3 

 

(12.5)

   

— 

 

— 

Total comprehensive income for the year 

   

753.6 

 

768.9 

   

327.8 

 

440.6 

Comprehensive income for the year attributable to: 

                   

Equity holders of the Company 

   

405.4 

 

415.7 

   

327.8 

 

440.6 

Non-controlling interest 

   

348.2 

 

353.2 

   

— 

 

— 

     

753.6 

 

768.9 

   

327.8 

 

440.6 

Earnings/(loss) per share – cents 

                   

Basic 

 

115.91 

 

82.13 

         

Continuing operations 

   

79.24 

 

95.07 

         

Discontinued operation 

   

36.67 

 

(12.94)

         

Diluted 

 

112.48 

 

79.73 

         

Continuing operations 

   

76.16 

 

92.56 

         

Discontinued operation 

   

36.32 

 

(12.83)

         

*Restated – refer note 2 of Pick n Pay Stores Limited summarised annual financial statements