Income statement (Rm)                      
  Four-year                    
  growth %   2014   2013 1   2012   2011   2010
                       
                       
Revenue  11.4    78,319.0    72,512.9    66,050.3    57,177.8    50,795.2
Sales  11.4    78,173.2    72,263.4    65,839.5    57,066.5    50,673.3
Cost of sales      (63,610.8)    (58,926.4)    (53,563.0)    (46,767.6)    (41,513.1)
Gross profit  12.3    14,562.4    13,337.0    12,276.5    10,298.9    9,160.2
Other income      145.8    249.5    210.8    111.3    121.9
Depreciation and amortisation      (846.6)    (731.1)    (661.2)    (530.4)    (417.3)
Impairment of assets      (24.6)    (41.6)    (21.6)    (10.3)    (3.7)
Employment costs      (6,109.0)    (5,423.5)    (4,686.5)    (4,066.9)    (3,568.4)
Occupancy costs      (2,678.8)    (2,555.3)    (2,296.5)    (1,826.6)    (1,552.9)
Foreign exchange gain/(loss)      (49.8)    67.8    (231.6)    89.6    (175.1)
Other operating costs      (3,033.3)    (2,750.3)    (2,533.0)    (1,783.9)    (1,621.3)
Operating profit before Walmart transaction costs and loss on disposal of Makro Zimbabwe  0.3    1,966.1    2,152.5    2,056.9    2,281.7    1,943.4
Walmart transaction, integration and related costs     -   -    (348.9)    (450.5)   -
Loss on disposal of Makro Zimbabwe     -   -   -    (38.6)   -
Operating profit  0.3    1,966.1    2,152.5    1,708.0    1,792.6    1,943.4
Finance costs      (386.8)    (283.8)    (217.4)    (154.6)    (102.3)
Finance income      41.5    28.7    90.0    40.0    41.4
Net finance costs      (345.3)    (255.1)    (127.4)    (114.6)    (60.9)
Profit before taxation      1,620.8    1,897.4    1,580.6    1,678.0    1,882.5
Taxation      (483.4)    (555.3)    (549.6)    (633.7)    (625.7)
Profit for the year  (2.5)    1,137.4    1,342.1    1,031.0    1,044.3    1,256.8
                       
Profit attributable to:                      
Owners of the parent      1,079.8    1,283.0    972.3    993.2    1,174.7
Preference shareholders     -   -    5.0    24.0    49.9
Non-controlling interests      57.6    59.1    53.7    27.1    32.2
Profit for the year      1,137.4    1,342.1    1,031.0    1,044.3    1,256.8
                       
Earnings per share (cents)                      
Basic EPS  (3.8)    497.8    591.4    449.8    461.7    581.9
Diluted basic EPS  (2.5)    492.9    585.1    443.2    454.4    545.2
                       
Trading profit before interest and taxation2  (1.3)    2,061.7    2,145.4    2,147.8    2,233.9    2,173.0
EBITDA before foreign exchange3  3.3    2,887.1    2,857.4    2,971.3    2,732.8    2,539.5
EBITDAR before foreign exchange3  8.0    5,565.9    5,412.7    5,267.8    4,559.4    4,092.4
Headline earnings  (1.7)    1,105.5    1,334.5    1,027.0    1,037.6    1,183.8
Headline earnings before foreign exchange (taxed)  (3.4)    1,141.4    1,285.7    1,193.8    973.1    1,309.9
                       
Details of the ratios and terms can be found in definitions and formulas
All periods are 12 month periods
Foreign exchange movements relating to the cost of inventory were reallocated from ‘Foreign exchange gain/(loss)’ to ‘Cost of sales’ from the December 2011 financial year onwards, in line with the Group’s accounting policy.
12013 was a 53-week period
2Walmart integration and related costs have been included in the 2012 financial year
3Excludes Walmart transaction, integration and related costs and the loss on disposal of Makro Zimbabwe
                       
                       
Statement of financial position and statement of cash flows (Rm)                      
  Four-year                    
  growth %   2014   2013 1   2012   2011   2010
                       
                       
Statement of financial position (Rm)                      
Assets                      
Non-current assets  18.8    11,018.3    10,111.8    7,595.1    6,289.5    5,536.0
Current assets  9.5    17,870.1    16,036.1    15,422.2    14,972.3    12,440.6
     Inventory  11.2    11,228.8    10,115.5    9,691.5    8,385.2    7,336.1
Non-current assets classified as held for sale      18.0   -    2.5    2.1    4.6
Total assets  12.6    28,906.4    26,147.9    23,019.8    21,263.9    17,981.2
Equity and liabilities                      
Total equity  8.4    5,527.2    5,369.6    4,915.3    4,864.6    4,009.7
     Equity attributable to equity holders of the parent      5,334.4    5,173.0    4,739.7    4,658.1    3,857.5
Non-current liabilities  39.3    3,236.8    2,206.4    1,183.4    928.9    859.8
Current liabilities  11.3    20,142.4    18,571.9    16,921.1    15,470.4    13,111.7
     Trade payables  9.7    14,841.5    13,702.5    12,601.3    12,281.1    10,261.4
Total equity and liabilities  12.6    28,906.4    26,147.9    23,019.8    21,263.9    17,981.2
                       
Statement of cash flows (Rm)                      
Operating cash  5.8    2,983.4    2,984.0    2,681.8    2,536.8    2,383.3
Working capital movements      (295.1)    752.6    (775.5)    450.3    (96.9)
Cash generated from operations  4.1    2,688.3    3,736.6    1,906.3    2,987.1    2,286.4
Net Interest paid      (345.3)    (255.1)    (127.4)    (114.6)    (60.9)
Investment income     -    79.2    0.1    18.4    43.7
Taxation paid      (683.4)    (732.8)    (601.5)    (691.4)    (602.3)
Dividends paid      (914.0)    (913.4)    (864.7)    (826.7)    (827.4)
Net cash flow from operating activities      745.6    1,914.5    312.8    1,372.8    839.5
                       
Investment to maintain operations      (857.4)    (752.1)    (629.4)    (453.8)    (362.3)
Investment to expand operations      (1,322.1)    (1,306.8)    (685.2)    (920.8)    (542.7)
Businesses acquired     -   -    (383.6)    (84.0)    (310.9)
Other      33.0    (247.4)    33.5    133.2    (169.2)
Net cash flow from investing activities  11.6    (2,146.5)    (2,306.3)    (1,664.7)    (1,325.4)    (1,385.1)
                       
Net cash flow from financing activities      1,349.7    293.0    135.6    707.7    33.5
                       
Net (decrease)/increase in cash and cash equivalents      (51.2)    (98.8)    (1,216.3)    755.1    (512.1)
Foreign exchange losses taken to FCTR      (53.7)    47.2    6.0    95.2    (4.9)
Cash and cash equivalents at the beginning of the period      1,588.3    1,639.9    2,850.2    1,999.9    2,516.9
                       
Cash and cash equivalents at the end of the period      1,483.4    1,588.3    1,639.9    2,850.2    1,999.9
                       
Details of the ratios and terms can be found in definitions and formulas
All periods are 12 month periods
12013 was a 53-week period.
                       
                       
Stores and productivity measures in Rands                      
  Four-year                    
  growth %   2014   2013 1   2012   2011   2010
                       
                       
Ratios/indicators                      
                       
Operating statistics                      
Depreciation and amortisation costs as a % of sales      1.1    1.0    1.0    0.9    0.8
Impairment costs as a % of sales      0.0    0.1    0.0    0.0    0.0
Employment costs as a % of sales      7.8    7.5    7.1    7.1    7.0
Occupancy costs as a % of sales      3.4    3.5    3.5    3.2    3.1
Total operating costs before foreign exchange as a % of sales 2      16.2    15.9    15.3    14.2    14.1
                       
Number of stores by chain                      
Game      130    121    114    106    97
DionWired      23    22    19    16    12
Massdiscounters      153    143    133    122    109
                       
Makro      19    19    18    16    14
Masswarehouse      19    19    18    16    14
                       
Builders Warehouse      35    34    28    28    27
Builders Trade Depot      16    20    29    26    23
Builders Express      41    36    28    30    30
Builders Superstore      8    2   -   -   -
Massbuild      100    92    85    84    80
                       
Wholesale Cash and Carry      73    75    77    80    79
Retail Cash and Carry      47    47    44    28    26
Masscash      120    122    121    108    105
Total number of stores  6.2    392    376    357    330    308
                       
Trading space (m2)  5.4    1,539,295    1,481,308    1,413,573    1,321,233    1,249,584
Distribution centre space (m2)  11.4    328,175    323,813    290,704    246,252    212,738
                       
Sales per store (R’000)      189,773    183,008    175,887    164,306    154,351
Sales per FTE (R’000)      1,923    1,924    1,826    1,696    1,703
Sales per trading m2 (R’000)      51    49    47    43    41
                       
Details of the ratios and terms can be found in definitions and formulas
All periods are 12 month periods
12013 was a 53-week period.
2Excludes Walmart transaction, integration and related costs and the loss on disposal of Makro Zimbabwe
                       
                       
Returns, profitability and share information in Rands                      
  Four-year                    
  growth %   2014   2013 1   2012   2011   2010
                       
                       
Productivity ratios                      
Net asset turn      10.2    11.0    11.8    10.9    11.6
Gross margin (%)      18.6    18.5    18.6    18.0    18.1
Operating margin2 (%)      2.5    3.0    3.1    4.0    3.8
Trading profit before interest and taxation margin3 (%)      2.6    3.0    3.3    3.9    4.3
EBITDA before foreign exchange margin2 (%)      3.7    4.0    4.5    4.8    5.0
Effective tax rate (%)      29.8    29.3    34.8    37.8    33.2
                       
Profitability and gearing ratios                      
Return on average shareholders’ equity before foreign exchange (taxed)4 (%)      21.7    25.9    27.6    24.5    35.4
Return on capital employed before foreign exchange (%)      28.7    35.0    36.2    35.7    52.3
Return on invested capital (%)      17.7    18.2    17.7    21.5    21.2
Debt: Equity (%) [Non-current Interest- bearing liabilities]      31.5    18.0    10.7    8.2    5.6
Debt: Equity (%) [Current and Non-current Interest- bearing liabilities]      44.5    29.7    22.7    21.6    19.1
Cash earnings cover      2.7    2.2    2.6    2.4    2.0
                       
Solvency and liquidity ratios                      
Net cash to total equity (%)      26.8    29.6    33.4    58.6    49.9
Current ratio      0.9    0.9    0.9    1.0    0.9
Quick ratio      0.3    0.3    0.3    0.4    0.4
Inventory days days    64.4    63.7    65.9    65.3    64.3
Inventory turn      5.7    5.8    5.5    5.6    5.7
Payable days days    74.5    75.7    75.1    83.8    78.9
Asset turn      2.7    2.8    2.9    2.7    2.8
Total liabilities to total equity      4.2    3.9    3.7    3.4    3.5
                       
Per share performance (cents)                      
Headline earnings  (3.4)    509.7    615.2    475.2    479.2    584.4
Headline earnings before foreign exchange (taxed)  (5.0)    526.2    592.7    552.3    449.4    646.6
Diluted headline earnings  (2.1)    504.7    608.6    468.1    475.1    549.6
Attributable earnings  (3.7)    497.8    591.4    449.8    458.7    579.9
Dividends/distribution  2.2    421.0    421.0    421.0    386.0    386.0
Cash generated from operations before working capital movements  4.0    1,375.4    1,375.5    1,240.8    1,171.5    1,176.5
Operating cash flow  (1.8)    765.1    1,303.6    544.8    1,015.7    822.9
Net asset value  6.7    2,456.9    2,382.7    2,185.1    2,158.0    1,893.2
Dividend cover      1.21    1.46    1.13    1.24    1.51
                       
Stock exchange information                      
Shares in issue (millions)      217.1    217.1    216.9    215.9    203.8
Weighted average number of shares (millions)      216.9    216.9    216.1    216.5    202.6
Diluted weighted average number of shares (millions)      219.1    219.3    219.4    218.9    218.9
Shares traded (millions)      88.0    98.0    73.7    137.6    232.2
Percentage of shares traded (%)      40.5    45.1    34.0    63.7    114.0
Earnings yield (%)      3.5    4.4    2.4    2.7    4.0
Dividends yield (%)      2.9    3.1    2.2    2.2    2.6
Market capitalisation (Rm)      31,249.7    29,414    41,041    37,194    29,849
Share price South African (cents):                      
     High4      14,980    20,800    19,241    17,449    15,316
     Low4      11,000    12,710    15,652    12,600    8,341
     Closing      14,393    13,548    18,921    17,237    14,650
                       
Details of the ratios and terms can be found in definitions and formulas
All periods are 12 month periods
12013 was a 53-week period.
2Excludes Walmart transaction, integration and related costs and the loss on disposal of Makro Zimbabwe
3Walmart integration and related costs have been included in the 2012 and 2011 financial years
4Excludes Walmart transaction costs
5Taking into account intra-day high and low prices.
                       
                       
Income statement, statement of financial position and statement of cash flows in US Dollars ($m)                      
  Four-year                    
  growth %   2014   2013 1   2012   2011   2010
                       
Income statement                      
Revenue                      
Sales  1.1    7,218.2    7,519.6    8,029.2    7,893.0    6,913.1
Cost of sales      (5,873.6)    (6,131.8)    (6,532.1)    (6,468.5)    (5,663.5)
Gross profit  1.8    1,344.6    1,387.8    1,497.1    1,424.5    1,249.6
Other income and expenses      (1,163.1)    (1,163.8)    (1,246.3)    (1,108.9)    (984.6)
Operating profit before Walmart transaction costs and loss on disposal of Makro Zimbabwe  (9.0)    181.5    224.0    250.8    315.6    265.0
Walmart transaction, integration and related costs     -   -    (42.5)    (62.3)   -
Loss on disposal of Makro Zimbabwe     -   -   -    (5.3)   -
Net finance costs      (31.9)    (26.5)    (15.5)    (15.9)    (8.3)
Profit before tax  (12.6)    149.6    197.5    192.8    232.1    256.7
Taxation      (44.6)    (57.8)    (67.0)    (87.6)    (85.4)
Profit for the year  (11.5)    105.0    139.7    125.8    144.5    171.3
                       
Profit attributable to:                      
Owners of the parent  (11.2)    99.7    133.6    118.6    137.4    160.3
Preference shareholders     -   -    0.6    3.3    6.8
Non-controlling interests      5.3    6.1    6.5    3.7    4.4
Profit for the year  (11.5)    105.0    139.7    125.7    144.4    171.5
                       
Headline earnings  (10.8)    102.1    138.9    125.2    143.5    161.5
                       
Statement of financial position                      
Total equity  (5.2)    476.5    510.4    572.2    596.2    590.5
Cash and cash equivalents at the end of the period      127.9    151.0    190.9    349.3    294.5
Total assets  (1.5)    2,492.0    2,485.5    2,679.8    2,605.9    2,648.2
Inventories  (2.7)    968.0    961.5    1,128.2    1,027.6    1,080.4
Trade payables  (4.1)    1,279.5    1,302.5    1,467.0    1,505.0    1,511.3
                       
Statement of cash flows                      
Cash generated from operations  (5.6)    248.2    388.8    232.5    413.2    311.9
Net cash flow from operating activities  (12.0)    68.8    199.2    38.1    189.9    114.5
Net cash flow from investing activities  1.2    (198.2)    (240.0)    (203.0)    (183.3)    (189.0)
                       
Exchange rates (Rand/US$)                      
At year-end      11.60    10.52    8.59    8.16    6.79
Average for the year      10.83    9.61    8.20    7.23    7.33
                       
Details of the ratios and terms can be found in definitions and formulas
All periods are 12 month periods
12013 was a 53-week period.
                       
                       
Profitability and share performance in US Dollars                      
  Four-year                    
  growth %   2014   2013 1   2012   2011   2010
                       
                       
Ratios/indicators                      
Profitability and gearing ratios                      
Return on average shareholders’ equity before foreign exchange (taxed)2 (%)      23.3    28.4    28.9    27.7    32.8
Return on capital employed before foreign exchange (%)      30.8    47.0    43.7    45.4    53.1
Return on invested capital (%)      17.7    18.2    17.9    21.7    21.0
Debt: Equity (%)      31.5    18.0    10.7    8.2    5.6
Debt: Equity (%) [Current and Non-current Interest- bearing liabilities]      44.5    29.7    22.7    21.6    19.1
                       
Liquidity ratios                      
Current ratio      0.9    0.9    0.9    1.0    0.9
Inventory days      60.0    58.2    62.9    57.8    69.4
                       
                       
Per share performance (cents)                      
Headline earnings  (15.5)    43.9    58.5    55.3    58.7    86.1
Diluted headline earnings  (14.4)    43.5    57.9    54.5    58.2    80.9
Attributable earnings  (15.8)    42.9    56.2    52.4    56.2    85.4
Dividends/distribution  (10.6)    36.3    40.0    49.0    47.3    56.8
Cash generated from operations before working capital movements  (9.0)    118.6    130.8    144.4    143.6    173.3
Operating cash flow  (14.1)    66.0    123.9    63.4    124.5    121.2
Net asset value  (6.6)    211.8    226.5    254.4    264.5    278.8
Dividend cover      1.2    1.5    1.1    1.2    1.5
                       
Stock exchange information                      
Market capitalisation ($m)      2,694.1    2,796.0    4,777.8    4,558.1    4,396.0
                       
Exchange rates (Rand/US$)                      
At year-end      11.60    10.52    8.59    8.16    6.79
Average for the year      10.83    9.61    8.20    7.23    7.33
                       
Details of the ratios and terms can be found in definitions and formulas
All periods are 12 month periods
12013 was a 53-week period.
2Excludes Walmart transaction costs