Notes
| Accounting policies
These interim financial results have been prepared in accordance with IAS 34, Interim Financial Reporting and the accounting policies used are consistent with those applicable for the 2007 annual financial statements. |
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| 1. | Discontinued operations | |||
| 6 months to | 6 months to | Year to | ||
| 29 February 2008 | 28 February 2007 | 31 August 2007 | ||
| R’000 | (unaudited) | (unaudited) | (audited) | |
| Revenue from discontinued operations | 51 903 | 629 910 | 1 192 255 | |
| Turnover | 50 140 | 612 243 | 1 153 507 | |
| Cost of merchandise sold | (36 172) | (449 233) | (828 873) | |
| Gross profit | 13 968 | 163 010 | 324 634 | |
| Other income | 1 763 | 17 667 | 38 748 | |
| Expenses | (7 623) | (160 716) | (323 421) | |
| Depreciation and amortisation |
(44) | (8 518) | (16 758) | |
| Occupancy costs | 4 118 | (26 994) | (51 322) | |
| Employment costs | (7 360) | (66 143) | (148 939) | |
| Other costs | (4 337) | (59 061) | (106 402) | |
| Loss on disposal of property, plant and equipment |
(4) | (571) | (2 890) | |
| Profit from operations | 8 104 | 19 390 | 37 071 | |
| Profit on disposal of business | 23 649 | – | – | |
| Profit before taxation | 31 753 | 19 390 | 37 071 | |
| Income tax | 1 928 | (5 789) | (10 751) | |
| Profit for the period from discontinued operations | 33 681 | 13 601 | 26 320 | |
| During September 2007 the Discom business unit was sold to
Edgars Consolidated Stores Limited (“Edcon”).
Set out above are the results of the Discom business unit which, as a result of meeting the definition of a discontinued operation, are required to be separately disclosed from the results of the continuing operations. |
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