Reviewed

Audited

2004

Growth

2003

          Rm

%

Rm

Revenue (note 2)

30 448.3

27 182.0

Turnover

29 276.1

11.8

26 194.2

Cost of merchandise sold

(24 420.4)

(21 552.3)

Gross profit

4 855.7

4 641.9

Other income

1 076.1

 875.9

Trading expenses

(5 142.8)

(4 837.1)

Trading profit

 789.0

15.9

 680.7

Interest received

 81.9

 91.8

Interest paid

( 46.6)

( 41.4)

Dividends received

 14.2

 20.1

Goodwill amortisation

( 36.8)

( 38.6)

Exceptional items

               -  

( 5.3)

Profit before tax

 801.7

13.3

 707.3

Tax

( 286.0)

( 253.5)

Net profit for the year

 515.7

13.6

 453.8

   Trading profit margin

2.7%

2.6%

   Profit before tax margin

2.7%

2.7%

Per share - cents

Headline earnings (note 3)

117.38

14.1

102.87

Earnings

109.55

93.80

Fully diluted headline earnings

111.64

98.78

Fully diluted  earnings

104.26

90.17

    Dividends

    Interim - No. 71 paid

16.50

17.9

14.00

    Final    - No. 72 payable

63.50

15.5

55.00

        Total

80.00

15.9

69.00

Dividend cover

1.5

1.5