Financial Results Peter Green
Performance Feb 2003Feb 2002% Turnover (R’m) Turnover growth excluding UPD & Price Attack11.2 Headline earnings (R’m) Headline EPS (Cents) Diluted headline EPS (Cents) Gross margin (%) (7.6) Operating margin (%)6.26.3(1.5) Net tangible asset value per share (Cents)
Undiluted headline earnings per share At 28 February 2002 previously reported39.8 Provision for PM&A interest(4.4) Restated 28 February Increased by: Acquisitions3.3 Organic growth3.4 Decreased by: Cost of acquisitions(3.6) Impact of exchange rate movement - At 28 February
Operating profit R’000Feb 2003Feb 2002% Clicks (0.6) Discom(2 214)(13 447)n/a Music Division Body Shop Link Investment Trust987(1 812)n/a Intercare(362)(759)n/a Priceline House (4.4) Price Attack UPD Total group
Clicks turnover growth R’000Feb 2003Feb 2002% Lifestyle Health & Beauty
Segmental contribution – Operating profit
Group operating margin
Interest Feb 2003 R’000 Feb 2002 R’000 % Change Interest received (excluding loan to PM&A) Interest paid Net interest paid Increase due to: Increase in rates Funding for PM&A Funding for acquisition of Price Attack
PM&A R’mFeb 2003Aug 2002 Loan to PM&A Interest charge Cost recovery Loss for the period R8.2m before interest to New Clicks Budgeting an operating profit for the full year Cash generating towards end of the financial year
PM&A R’mFeb 2003 Shareholder deficit at Aug Post year-end adjustments14.6 Adjusted deficit92.9 Loss for period8.2 Interest28.8 Goodwill10.9 Shareholder deficit at Feb
Tax rate
Balance sheet R’000Feb 2003 incl. UPD Feb 2003 excl. UPD Feb 2002 adjusted % change excl. UPD Fixed assets Inventories Accounts receivable Accounts payable Note - The Feb 2002 figures for Australia included above have been adjusted to the current exchange rate to allow comparison
Goodwill R’000Balance SheetIncome Statement Link UPD House Price Attack Total Forex revaluation adjustment R k UPD goodwill acquired R k
Asset turn
Loans to third parties R’mFeb 2003Aug 2002 PM&A Share trust Intercare professionals Franchise set-up (Aus) 9.2- Other 1.5- Total
Cash flow R’000Feb 2003Feb 2002 Operating activities76 529(25 224) Investing activities( )( ) Fixed assets(79 793)(68 207) Cash flow - UPD Loans(28 446)(64 299) Financing activities(7 186)(8 576) Net decrease(35 324)( ) Note - UPD acquisition through share issue
Future focus Continue to focus on: –Asset turnover –Cash generation –Improving margins –UPD will lower margin, but has high asset turnover Resulting in improving: –Returns & EVA