Pick n Pay Group of Companies financial statements
notes to the group financial statements
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Pick n Pay Stores Group |
Pick n Pay Holdings Group |
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52 weeks 1 March 2015 Rm |
52 weeks 2 March 2014 Rm |
52 weeks 1 March 2015 Rm |
52 weeks 2 March 2014 Rm |
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2. |
REVENUE |
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Turnover |
66 940.8 |
63 117.0 |
66 940.8 |
63 117.0 |
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Finance income |
59.4 |
44.3 |
59.4 |
44.3 |
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Bank balances and investments |
40.9 |
32.3 |
40.9 |
32.3 |
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Trade and other receivables |
13.9 |
8.2 |
13.9 |
8.2 |
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Staff loans and other |
4.6 |
3.8 |
4.6 |
3.8 |
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Other trading income |
602.9 |
500.6 |
602.9 |
500.6 |
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Franchise fee income |
294.4 |
311.2 |
294.4 |
311.2 |
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Operating lease income (note 11) |
67.3 |
77.8 |
67.3 |
77.8 |
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Commissions and other income |
241.2 |
111.6 |
241.2 |
111.6 |
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67 603.1 |
63 661.9 |
67 603.1 |
63 661.9 |
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The Group has a customer loyalty programme, Smart Shopper, whereby customers are rewarded with Smart Shopper points (reward credits) which are effectively redeemed as cash against future purchases. At period end the Group has deferred revenue of R46.2 million (2014: R92.3 million) which represents the fair value of the Smart Shopper points granted and yet to be redeemed, adjusted for an expected forfeiture rate of 23.2% (2014: 25.0%) (refer to note 23). |
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