annual report 2009
Group Segmental Analysis
for the years ended 31 March
| Foschini Limited and its subsidiaries | ||||||
| RCS Group | Retail | Consolidated | ||||
| 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | |
| Rm | Rm | Rm | Rm | Rm | Rm | |
| REVENUE* | ||||||
| External | 1 020,1 | 874,2 | 8 968,8 | 8 379,4 | 9 988,9 | 9 253,6 |
| Inter-segment | – | – | – | – | – | – |
| Total revenue | 1 020,1 | 874,2 | 8 968,8 | 8 379,4 | 9 988,9 | 9 253,6 |
| SEGMENT RESULT | ||||||
| Operating profit before finance charges | 397,3 | 386,7 | 1 628,2 | 1 518,8 | 2 025,5 | 1 905,5 |
| External interest | (91,3) | (51,8) | (158,5) | (68,3) | (249,8) | (120,1) |
| Inter-segment interest | (103,5) | (65,3) | 103,5 | 65,3 | – | – |
| Interest paid | (194,8) | (117,1) | (55,0) | (3,0) | (249,8) | (120,1) |
| Profit before tax and income from associate | 202,5 | 269,6 | 1 573,2 | 1 515,8 | 1 775,7 | 1 785,4 |
| * includes retail turnover, interest received and other income | ||||||
| SEGMENT ASSETS | ||||||
| Non-current assets | 2 009,2 | 871,0 | 1 241,8 | 1 126,3 | 3 251,0 | 1 997,3 |
| Current assets | 623,4 | 1 004,6 | 4 629,1 | 3 898,0 | 5 252,5 | 4 902,6 |
| Inter-segment assets (liabilities) | 12,9 | 12,9 | (12,9) | (12,9) | – | – |
| Total segment assets | 2 645,5 | 1 888,5 | 5 858,0 | 5 011,4 | 8 503,5 | 6 899,9 |
| SEGMENT LIABILITIES | ||||||
| Non-current liabilities | 781,5 | 495,7 | 1 151,5 | 278,4 | 1 933,0 | 774,1 |
| Current liabilities | 161,8 | 120,9 | 1 493,2 | 1 821,9 | 1 655,0 | 1 942,8 |
| Inter-segment liabilities (assets) | 918,6 | 665,9 | (918,6) | (665,9) | – | – |
| Total segment liabilities | 1 861,9 | 1 282,5 | 1 726,1 | 1 434,4 | 3 588,0 | 2 716,9 |
| SEGMENT INFORMATION | ||||||
| Capital expenditure | 19,1 | 27,1 | 351,5 | 247,3 | 370,6 | 274,4 |
| Depreciation and amortisation | 13,5 | 13,1 | 217,6 | 191,6 | 231,1 | 204,7 |
All retail divisions within the group operate in an established retail market and are therefore considered to be subject to similar risks and rewards.
Segment revenue and expenses
Revenue and expenses that are directly attributable to segments are allocated to those segments.
Those that are not directly attributable to segments are allocated on a reasonable basis.
Segment assets and liabilities
Segment assets include all operating assets used by a segment and consist principally of operating cash, receivables, inventories and property, plant and equipment, net of related allowances and accumulated impairments.
While most such assets can be directly attributable to individual segments, the carrying amount of certain assets used jointly by two or more segments is allocated to the segments on a reasonable basis. Segment liabilities include all operating liabilities, and consist principally of trade payables, salaries and accruals.
Inter-segment transfers
Segment revenue, segment expenses and segment result include transfers between segments.
These transfers occur at market prices and are eliminated on consolidation.
