Review of operations

KEY INDICATORS

	2013	Normalised trading calendar pro-forma 2012	Comparable pro-forma change	As previously reported 2012	Change
Total till sales	R35.0 billion	R32.3 billion	8.1%	R32.7 billion	6.9%
Turnover	R30.1 billion	R28.0 billion	7.5%	R28.3 billion	6.2%
Gross margin	18.1%	17.7%		17.6%
Trading profit	R317.5 million	R235.6 million	34.8%	R275.7 million	15.2%
Basic earnings per share	40.05 cents	31.88 cents	25.6%	37.73 cents	6.1%
Headline earnings per share	40.81 cents	30.06 cents	35.8%	35.91 cents	13.6%
EBITDA	R810.5 million	R697.3 million	16.2%	R737.4 million	9.9%
Dividend per share	14.80 cents			14.75 cents	0.3%

The Group implemented a 52-week financial reporting calendar in February 2013. The 2014 interim financial period consists of 26 weeks, which is two trading days fewer than the comparative period last year. Interim results in this commentary have been presented on a comparable pro-forma basis with adjusted prior period numbers, for meaningful comparison. This has not been reviewed or reported on by the external auditors and is prepared for illustrative purposes only and is the responsibility of the directors.
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