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Integrated Annual Report 2016

Five-Year Performance Review
for the year ended 31 August

5-year compound growth (%) 2016 2015 2014 2013 Restated* 2012 Restated*
*2013 and 2012 results have been restated due to the adoption of IAS 19 (Revised) – Employee Benefits and IFRS 10 – Consolidated Financial Statements.
Statements of comprehensive income
Turnover (Rm) 11.3 24 171 22 070 19 150 17 543 15 437
Operating expenses (Rm) 9.8 (4 796) (4 339) (3 954) (3 590) (3 262)
Operating profit (Rm) 10.9 1 572 1 396 1 218 1 104 1 012
Profit before tax (Rm) 11.0 1 515 1 330 1 207 1 050 958
Headline earnings (Rm) 10.9 1 099 960 838 756 693
Statements of financial position
Non-current assets (Rm) 12.1 2 507 2 009 1 772 1 602 1 505
Trade and other receivables (Rm) 15.0 2 013 1 871 1 608 1 508 1 172
Inventories (Rm) 14.1 3 479 3 250 2 614 2 225 2 080
Other current assets (Rm) (17.6) 8 25 3 18 9
Cash and cash equivalents (Rm) 83.1 370 401 195 92 7
Total assets (Rm) 14.5 8 377 7 556 6 192 5 445 4 773
Total equity (Rm) 20.5 2 452 2 013 1 567 1 377 1 349
Non-current liabilities (Rm) 8.9 406 308 286 252 286
Current liabilities (Rm) 15.8 5 519 5 235 4 339 3 472 2 923
Call borrowings (Rm) (100.0) 344 215
Total equity and liabilities (Rm) 14.5 8 377 7 556 6 192 5 445 4 773
Statements of cash flows
Cash inflow from operating activities before dividends paid (Rm) 14.7 1 345 1 290 1 464 1 008 759
Dividends paid (Rm) 14.6 586 491 429 394 337
Capital expenditure (Rm) 14.9 433 370 337 310 256
Returns and margin performance 5-year average
Total income margin (%) 26.8 26.3 26.0 27.0 26.8 27.7
Operating margin (%) 6.4 6.5 6.3 6.4 6.3 6.6
Return on assets (%) 14.5 13.8 14.0 14.4 14.8 15.3
Return on shareholders’ interest (%) 55.1 49.2 53.7 57.0 55.5 59.9
Inventory days 64 66 68 64 59 63
Asset turnover (times) 3.1 2.9 2.9 3.1 3.2 3.2
Return on net assets (%) 83.0 93.5 96.7 85.2 69.7 69.7
Shareholders’ interest to total assets (%) 26.9 29.3 26.6 25.3 25.3 28.2
Net debt to equity (%) (2.8) (15.1) (19.9) (12.5) 18.3 15.4
Share performance 5-year compound growth (%)
Headline earnings per share
– basic (cents per share)
13.1 462.4 399.2 341.7 302.0 273.5
Headline earnings per share
– diluted (cents per share)
11.9 438.5 383.9 336.8 298.3 273.4
Cash equivalent earnings (cents per share) 14.4 576.5 527.2 433.7 386.2 362.9
Net asset value (cents per share) 22.1 1 037 839 647 558 533
Dividends declared (cents per share) 16.8 272.0 235.0 190.0 168.0 152.0
Dividend cover (times) 1.7 1.7 1.8 1.8 1.8
Weighted average number of shares in issue (net of treasury shares) (’000) 237 565 240 603 245 364 250 297 253 154
Weighted average diluted number of shares in issue (net of treasury shares) (’000) 250 501 250 204 248 892 253 434 253 258
Shares repurchased (Rm) 290 176 285 354 12
Shares repurchased (’000) 3 360 2 376 4 620 6 187 217

A comprehensive five-year review is available on the website at www.clicksgroup.co.za.

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