| 1. |
KPMG Inc, the Group’s independent auditor has reviewed the condensed consolidated results contained in this preliminary report, and has expressed an unmodified conclusion on the preliminary
financial statements. Their review report is available for inspection at the Company’s registered office. These preliminary financial statements have been prepared in accordance with the recognition
and measurement requirements of IFRS and the disclosure requirements of IAS 34. Accounting policies are consistent with those of prior years. |
| 2. |
Revenue comprises turnover, other trading income and interest received. |
| 3. |
The weighted average number of shares is lower than that in issue due to the treasury shares held by the Group being treated as cancelled for this calculation. |
| 4. |
An impairment review has been performed on the value of the investment in TM Supermarkets and due to the worsening economic conditions in Zimbabwe we have written down the investment
by R9.1 million to a carrying value of nil. |
| 5. |
The February 2007 tax charge included a reversal of a deferred tax asset of R46.4 million relating to Score Supermarkets. As disclosed last year, we consider a headline earnings calculation excluding
this charge to more fairly reflect the Group’s result for that year. |
| 6. |
During the year the Group raised a fixed interest five-year term bank loan of R500 million to fund property developments. |
| 7. |
Operating profit in Australia includes a R47.0 million (AUD 7.9 million) profit on the sale of two stores to a franchisee, as part of our strategic franchise roll-out. |
| 8. |
Effective 31 December 2007 the Company issued 20 million new ordinary shares pursuant to the redemption of unsecured compulsory convertible debentures. |
