Financial history

 
 
        In accordance with IFRS   In terms of previous GAAP(4)
  18-year compound
growth rates
1991 to 2009
% per annum(1)		 10-year compound
growth rates
1999 to 2009
% per annum		   2009 2008 2007 2006 2005   2005 2004 2003 2002 2001 2000 1999  
Extract from financial statements (R’m)                                  
Revenue 36,6(2) 22,6   112 428 110 478 95 655 77 276 62 812   62 812 51 262 47 073 41 950 29 415 26 428 14 646  
Trading income 31,9(2) 21,8   5 137 5 335 4 547 3 657 3 046   3 165 2 544 2 240 2 012 1 422 1 215 712  
Attributable profit 32,8(2) 15,6   2 802 3 253 2 700 2 389 1 961   2 054 1 532 1 335 1 231 1 035 884 660  
Shareholders’ interest       13 929 13 468 10 626 8 929 7 469   7 388 5 998 5 353 5 564 3 860 3 029 2 985  
Net debt       4 072 5 547 3 764 1 452 989   945 674 – – – – –  
Cash generated by operations       6 749 6 087 4 237 4 490 4 200   3 977 3 761 2 667 2 752 1 559 1 283 859  
Total assets       38 484 41 861 32 848 27 994 21 123   20 895 18 021 14 592 15 117 9 742 8 135 7 681  
Wealth created by trading operations       20 696 19 595 16 777 14 049 11 955   11 745 10 231 9 247 7 441 5 080 4 516 2 692  
Share and debentures statistics                                  
Headline earnings per share (cents)(3) 22,1(2) 14,4   930,0 1 068,0 970,0 804,6 656,4   686,6 544,0 463,5 432,8 365,2 309,7 243,0  
Distribution per share (cents)(4) 21,4 11,6   380,0 495,0 446,4 369,0 306,0   306,0 250,2 220,0 190,0 169,2 150,3 127,3  
Distribution cover (times)(4)       2,4 2,2 2,2 2,2 2,1   2,2 2,2 2,1 2,3 2,2 2,1 1,9  
Distribution yield (%)       3,9 5,0 3,2 3,7 4,2   4,2 4,8 5,1 4,1 3,4 3,2 2,5  
Net tangible asset value per share (cents) 20,3(2) 11,5   3 098 2 803 2 135 1 814 1 542   1 604 1 330 1 549 1 569 1 186 1 046 1 042  
Share price (cents)                                  
high       11 808 15 100 14 780 11 650 8 100   8 100 5 620 4 800 5 200 5 200 6 550 5 400  
low       7 750 9 400 9 430 7 200 5 195   5 195 4 100 3 970 3 980 4 075 3 620 2 910  
closing (June 30) 21,8 6,7   9 674 9 838 14 123 9 875 7 270   7 270 5 250 4 300 4 600 5 010 4 680 5 040  
Net market capitalisation(5) (R’m) 29,8 7,4   29 505 29 571 42 772 29 541 21 768   21 768 16 570 13 462 14 316 14 821 13 555 14 435  
Volumes traded (R’m)       243 051 265 157 233 306 206 156 166 720   166 720 160 233 156 731 125 566 99 096 104 122 89 262  
Volume traded as % of weighted number of shares       80,6 87,5 77,7 68,7 55,1   55,1 53,3 50,9 42,0 34,0 36,1 32,9  
Ratios and statistics                                  
Return on total shareholders’ interest (%)       20,8 30,6 30,2 32,0 31,8   34,2 28,6 24,0 31,9 34,2 29,6 23,5  
Return on average funds employed (%)(6)       36,0 42,4 50,2 54,0 53,5   55,0 53,6 48,9 56,8 43,6 41,7 40,4  
Trading profit margin (%)       4,6 4,8 4,8 4,7 4,8   5,0 5,0 4,8 4,8 4,8 4,6 4,9  
Current asset ratio       1,1 1,1 1,1 1,1 1,1   1,1 1,1 1,3 1,2 1,2 1,1 1,2  
Quick asset ratio       0,7 0,7 0,7 0,8 0,7   0,7 0,8 1,0 0,9 0,9 0,8 0,9  
Number of employees       103 449 106 225 104 184 93 325 89 737   89 737 81 931 70 754 66 879 54 251 50 941 50 132  
Number of shares in issue(7) (’000)       304 995 300 576 302 852 299 154 299 421   299 421 302 156 302 679 311 217 295 821 289 638 286 418  
Number of weighted shares in issue(7)       301 462 303 159 300 206 299 976 302 700   302 700 300 643 308 116 299 089 291 599 288 554 271 483  
Consumer price index (%)(8) 7,5(10) 6,0(10)   9,9 9,6 5,9 3,8 2,6   2,6 1,6 10,4 6,0 6,6 3,3 8,1  
Foreign exchange rate comparison                                  
Rand/sterling                                  
Closing rate       13,02 15,89 14,18 13,20 11,96   11,96 11,29 12,46 15,91 11,34 10,26 9,54  
Average rate       14,47 14,64 13,95 11,44 11,53   11,53 11,94 14,29 14,54 11,01 10,06 9,62  
Rand/euro(9)                                  
Closing rate       11,05 12,51 9,54 9,16 8,07   8,07 7,57 8,60          
Average rate       12,35 10,76 9,41 7,82 7,89   7,89 8,19 9,40          
Rand/Australian dollar                                  
Closing rate       6,34 7,66 6,01 5,31 5,09   5,09 4,32 5,03 5,26 4,10 4,07    
Average rate       6,67 6,56 5,67 4,81 4,67   4,67 4,89 5,21 5,86 4,04 3,94    
  Notes
(1) Based on growth from 1991 the first year of Bidvest in its current form.
(2) Prior year amounts have not been restated to take account of changes to accounting policies as a result of the adoption of IFRS in the 2006 and 2005 years. Comparative information for the 1999 to 2005 years in accordance with the previous SA GAAP is provided for information and comparative purposes.
(3) Based on weighted average number of shares in issue.
(4) Includes interim distributions paid and final distributions approved after year end. Distribution includes dividends, capitalisation issues at market value and distributions of share premium.
(5) Market capitalisation is shown net of treasury shares. Total market capitalisation was R32,5 billion (2008: R32,6 billion)
(6) Return on average funds employed is calculated using the weighted average of the Group’s perating income before capital items, interest and taxation. operating assets, excluding cash and o
(7) The number of shares in issue has been adjusted for treasury shares.
(8) South African Consumer Price Index: an inflationary indicator that measures the change in the cost of a fixed basket of products and services, including housing, electricity, food andtransportation. The CPI is published monthly.
(9) 2003 was the first year the Group consolidated a subsidiary whose reporting currency was the euro.
(10) Average CPI.