Interim Group Results - for the six months ended 28 February 2006

Condensed Consolidated Income Statement

		6 months to	6 months to		Year to
		28 February	28 February		31 August
		2006	2005 restated	%	2005 restated
R’000		(unaudited)	(unaudited)	change	(unaudited)
Revenue		5 210 196	4 556 949	14.3	9 100 263
Turnover		4 997 631	4 378 101	14.2	8 714 338
Cost of merchandise		3 964 348	3 422 705	15.8	6 935 760
Gross profit		1 033 283	955 396	8.2	1 778 578
Other revenue		212 565	178 848	18.9	385 925
Expenditure		1 020 267	932 155	9.5	1 859 156
	Operating expenditure	1 019 110	925 324	10.1	1 835 929
	Impairment of property, plant and equipment	182	4 671		6 143
	Loss on disposal of property, plant and equipment	975	2 160		270
	Goodwill impairment	–	–		16 814

Profit before interest and taxation		225 581	202 089	11.6	305 347
Net interest paid		29 956	26 512	13.0	49 086
	Interest paid	33 724	27 692	21.8	56 964
	Interest received	(3 768)	(1 180)		(7 878)

Profit before taxation		195 625	175 577	11.4	256 261
Taxation		56 916	51 283	11.0	77 098
Profit		138 709	124 294	11.6	179 163
Undiluted earnings per share (cents)		40.6	36.5	11.2	52.7
Diluted earnings per share (cents)		40.0	35.9	11.4	51.3
Distributions per share (cents)
	Declared/paid – June/July	11.2	11.2		11.2
	Paid – December				18.5

Headline Earnings Reconciliation

		6 months to	6 months to		Year to
		28 February	28 February		31 August
		2006	2005 restated	%	2005 restated
R’000		(unaudited)	(unaudited)	change	(unaudited)
Profit		138 709	124 294	11.6	179 163
Adjustments for
	Impairment of property, plant and equipment	129	3 316		4 362
	Loss on disposal of property, plant and equipment	692	1 512		191
	Goodwill impairment	–	–		16 814
Headline earnings		139 530	129 122	8.1	200 530
Undiluted headline earnings per share (cents)		40.8	37.9	7.7	59.0
Diluted headline earnings per share (cents)		40.2	37.3	7.8	57.4

Income Statement

Condensed Consolidated Income Statement

Headline Earnings Reconciliation