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| GROUP
ANNUAL FINANCIAL STATEMENTS |
|
Pick
'n Pay Stores Limited
and its subsidiaries |
|
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 |
|
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| Income
Statement |
| for
the year ended 28 February
2006 |
|
| |
| |
Notes |
|
2006
Rm |
|
2005
Rm |
| Revenue |
1 |
|
36
784.6 |
|
33
343.9 |
| Turnover |
|
|
35
078.4 |
|
31
885.0 |
| Cost
of merchandise sold |
|
|
(29
060.1) |
|
(26
388.2) |
| Gross
profit |
|
|
6
018.3 |
|
5
496.8 |
| Other
trading income |
1 |
|
1
649.3 |
|
1
377.5 |
| Trading
expenses |
|
|
(6
620.2) |
|
(5
978.7) |
| Employee
costs |
3,4 |
|
(3
439.8) |
|
(3
100.8) |
| Occupancy |
|
|
(901.3) |
|
(834.2) |
| Operations |
|
|
(954.3) |
|
(879.7) |
| Merchandising
and administration |
|
|
(1
324.8) |
|
(1
164.0) |
|
|
|
|
|
|
| Trading
profit |
2 |
|
1
047.4 |
|
895.6 |
| Interest
received |
|
|
56.7 |
|
81.4 |
| Operating
profit |
|
|
1
104.1 |
|
977 |
| Interest
paid |
|
|
(37.6) |
|
(32.9) |
| Dividends
received |
|
|
0.2 |
|
— |
| Share
of associate’s profit |
|
|
23.4 |
|
14.6 |
| Exceptional
items |
5 |
|
(2.5) |
|
21.6 |
| Profit
before tax |
|
|
1
087.6 |
|
980.3 |
| Tax |
6 |
|
(384.5) |
|
(346.2) |
| Profit
for the year |
|
|
703.1 |
|
634.1 |
| Per
share – cents |
|
|
|
|
|
| Basic
earnings |
7 |
|
152.49 |
|
135.3 |
| Diluted
basic earnings |
7 |
|
144.42 |
|
129.2 |
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