Notes to the Group annual financial statements

for the period ended 3 March 2013
    Group
    2013   2012  
    Rm   Rm  
1.   Revenue – continuing operations      
  Revenue comprises:      
  Turnover   59 271.3   55 330.5  
  Interest received   42.8   39.5  
  Bank balances and investments   30.0   30.4  
  Trade and other receivables   9.7   4.9  
  Staff loans and other   3.1   4.2  
  Other trading income   344.4   264.4  
  Franchise fee income   284.0   234.3  
  Operating lease income   60.4   30.1  
    59 658.5   55 634.4  
  The Group has a customer loyalty programme, smartshopper, whereby customers are rewarded with smartshopper points (reward credits) which are effectively redeemed as cash against future purchases. At period end the Group has deferred revenue of R139.8 million (2012: R142.0 million) which represents the fair value of the smartshopper points granted and yet to be redeemed, adjusted for an expected forfeiture rate of 25% (2012: 22%) (refer note 24).