annual report 2009

Financial highlights


Financial Statistics and targets


  Medium-    
  term    
  target 2009 2008
Operating margin (%) 25,0 25,0 24,8
Net bad debt write-off as a % of debtors’ book – retail   8,7 8,3
ROE (%) 35,0 26,9 29,6
Current ratio (times)   3,4 2,5
Debt equity ratio (%) 40,0 33,5 36,2
Recourse debt equity ratio (%)   17,4 24,3
Total liabilities to total equity (%)   78,4 73,6
Net borrowings to EBITDA (times)   0,7 0,7
Finance charge cover (times)   8,1 15,9
EBITDA finance charge cover (times)   9,0 17,6
Dividend cover (times)   1,9 1,9
Number of stores   1 539 1 393
Square metres   467 420 410 378
Stock turn (12 month average)      
– jewellery   1,7 1,7
– @home   1,8 2,0
– other   3,2 3,1

FINANCIAL HIGHLIGHTS AND SALIENT FEATURES


  % change 2009 2008
Retail turnover (Rm) 5,5 8 089,6 7 668,7
Operating profit before finance charges (Rm) 6,3 2 025,5 1 905,5
EBITDA (Rm) 6,9 2 256,6 2 110,2
Profit before tax (Rm) (0,6) 1 775,7 1 786,3
Headline earnings (Rm) 1,5 1 145,8 1 128,4
Profit attributable to equity holders of Foschini Limited (Rm) 1,5 1 145,8 1 128,4
Total shareholders’ interest (Rm) 16,9 4 496,3 3 845,2
Total equity 17,4 4 855,5 4 136,1
Total liabilities 25,1 3 808,5 3 044,4
Net borrowings 8,5 1 626,9 1 498,9
Earnings per ordinary share* (cents) 2,3 559,5 547,0
Headline earnings per ordinary share* (cents) 2,3 559,5 547,0
Tangible net asset value per ordinary share** (cents) 15,3 2 148,1 1 862,7
Dividend per share (cents) – interim 118,0 118,0
Dividend per share (cents) – final 170,0 170,0
Dividend per share (cents) – total 288,0 288,0
Gross number of shares in issue (millions)   240,5 240,5
Net number of shares in issue (millions)   207,3 204,6
Closing US$ conversion rate   9,33 8,14
Average US$ conversion rate   8,89 7,15
* based on the weighted average number of shares in issue
** based on the net actual number of shares in issue

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