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2003

• Annual Report
• Published Results
• Interim Results

Financial Results 2003

Annual Report 2003

Highlights

• Sales exceeded R20 billion for the first time, almost doubling since listing three years ago.
• Record sales, trading profits and pre- and post-interest trading margins from all divisions.
• Comparable store and comparable member sales grew 17,6% and 19,5% when adjusted for the 53rd week in the previous year.
• Non-South African sales of R1,4 billion.
• Excellent expense control resulted in record Group pre- and post-interest operating profits of 3,67% and 3,49% of sales respectively.
• Return on equity improved from 27,6% to 31,2%.
• Last year’s Furnex acquisition was fully integrated.
• Builders Warehouse and Tile Warehouse were acquired in March 2003.
• The appointment of a non-executive chairman and three independent non-executive directors ensured greater compliance with the King II Report on Corporate Governance.

Annual Report 2003 - Print Options (pdf)   Complete annual report [PDF - 2.1 MB]

Published Results to 29 June 2003

Highlights

• 22 % increase in Sales to R20 370 million
• 39 % increase in Trading Profit to R748 million
• 33 % increase in Headline Earnings to R480 million
• 30 % increase in Headline Earnings before Acquisitions to R464 million
• 32 % increase in Headline EPS to 242,4 cents
• 15 % increase in Cash Flow from Operations to R775 million
• 59 % increase in Dividend to 97,0 cents

	Published Snapshot to 29 June 2003 (188Kb - pdf)
	Published Results to 29 June 2003 (47Kb - pdf)

Interim Results to 29 December 2002

Highlights

• 32 % increase in Sales to R10 555 million
• 45 % increase in Trading Profit to R430 million
• 42 % increase in Headline Earnings to R287 million
• 39 % increase in Headline Earnings before Acquisitions to R281 million
• 42 % increase in Headline EPS to 145,4 cents
• 19 % decrease in Cash Flow from Operations to R556 million
• 92 % increase in Dividend to 48,0 cents

	Interim Snapshot to 29 December 2002 (150Kb - pdf)
	Interim Results to 29 December 2002 (66Kb - pdf)