Poised to outperform
comparable period of R15bn. The
growth was achieved from price
inflation of 4.3%, 5.5% growth in
unit sales and 3.4% from changes
in the product mix. Total group
revenue grew 13.9% to R18.1bn
(2014: R15.9bn) while operating
profit increased 21.3%, resulting
in a higher operating margin
of 18% (2014: 15.96%). A final
dividend of 369c/share (2014: 314c)
was declared.
We expect retail trading conditions
to remain challenging. Consumers,
particularly in the lower-income
groups, are being financially
stretched by rising costs of living,
moderating wage increases and
the possibility of higher debt cost ̰)