| 1. |
The Group's interim condensed consolidated financial statements have been prepared in accordance with
IAS 34 – Interim Financial Reporting. The accounting policies and methods of computation applied in the preparation
of these financial statements are in accordance with IFRS and are consistent with those applied in the preparation
the Group's annual financial statements for the year ended 29 February 2008. |
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| 2. |
Revenue comprises turnover, other trading income and interest received. |
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| 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. |
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| 4. |
Transport costs have been reclassified from trading expenses to cost of sales. Comparative figures have been restated
accordingly. |
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| 5. |
At February 2008 computer hardware assets with a cost of R31.4 million were incorrectly included as part of
intangible assets. This amount has been reallocated to property, plant and equipment and the February 2008
comparative numbers have been restated accordingly. Also note that in the current period Score assets with a net
book value of R98.7 million have been reclassified as held for sale. |
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| 6. |
Operating profit before interest in Australia includes a net R8.7 million (2007: R47.0 million) profit on sale of assets,
as a result of the strategic franchise roll-out. |
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| 7. |
The Group has committed to the closure of its subsidiary, Score Supermarkets Operating Limited. The Score stores will
be closed and the property, equipment and vehicles sold. The majority of the stores will be sub-let to black franchisees
and will be converted into Pick n Pay Family Franchise stores. Although this means a discontinuation of the Score
brand, it is an exciting opportunity for the Group to expand the Pick n Pay brand into new markets, as well as being
able to create franchise opportunities for black entrepreneurs. The closure of the Score operation will be complete by 28 February 2010. |
