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JDG
JDG
JDG - JD Group limited - Reviewed interim results for the six months ended 28
February 2007
JD Group limited
(Reg. No. 1981/009108/06)
JSE Code: JDG ISIN: ZAE00030771
("the Group")
Reviewed interim results for the six months ended 28 February 2007
because of the strength of our brands . . .
* Revenue up by 16,8% to R7,1 billion (2006: R6,1 billion)
* Total sale of merchandise increased by 19,5% to R5,1 billion (2006: R4,2
billion)
* Operating income up by 10,1% to R1,2 billion (2006: R1,1 billion)
* Headline earnings per share increased to 488,2 cents (2006: 458,3 cents)
* Distribution per share increased to 246 cents (2006: 230 cents)
COMMENTARY
These interim results reflect the marked change in the credit cycle compared to
that of the corresponding period of the previous year. While the operating
profit before debtors costs shows an acceptable year-on-year growth of 16%,
additional debtors costs have reduced operating profit growth to 10%.
Hi-Fi Corporation increased its sales of merchandise by 14% but at a reduced
product margin, due to a change in the product mix and the very competitive
market that they trade in.
The Connection Group, acquired with effect from 1 December 2005, continued to
trade well above expectations.
ABRA, our Polish chain, further increased its profitability and has the
potential for a further improvement in margin.
Prior to the inclusion of the Connection Group, the Group grew revenue by 10,4%,
with the sale of merchandise growing by 10,3%. Our credit chains grew revenue by
7,8%, with the sale of merchandise growing 6,0%. The Group`s overall product
margin now stands at 31,1% (2006: 31,8%). This reduction is due to the impact of
Hi-Fi Corporation and the inclusion of the Connection Group for the full
reporting period. Our credit chains increased their margin to 36,6% (2006:
35,8%). Retail prices of electrical goods at Hi-Fi Corporation declined by
nearly 3,7%. Furniture inflation of 1,9% was experienced in our credit chains
with no inflation evident in the major categories of our product ranges.
The reduction in the collection rates and the lengthening of the debtors` book
has resulted in an increase in the impairment provision for receivables of R114
million. Provisions as a percentage of instalment sale receivables have been
maintained at 27,3%.
Cash generated by trading increased to R1,308 billion (2006: R1,190 billion).
Working capital cash requirements increased from R697 million to R855 million
with the growth in instalment sale receivables accounting for the bulk of the
increase.
The Group now administers in excess of 1,8 million current customer accounts.
During the period two stores were closed, 38 new stores opened, 28 stores
renovated and 13 stores were relocated, bringing our total store base to 1 064.
All the system changes necessitated by the introduction of the National Credit
Act have been effected and tested. The only outstanding challenge that remains
is the training of some 12 000 of our staff members.
Given the prevailing market conditions with the disposable income of a large
segment of consumers under pressure, we expect the growth in sales volumes to
remain low. This is further exacerbated by the increase in the fuel cost and the
resultant inflation on food. Safeguarding the quality of instalment sale
receivables remains a priority. Based on past credit cycles, we appear to be in
a similar situation to that of 2001/2003. The one big difference is the type of
credit now available to the middle mass market vis-a-vis credit cards. Not
withstanding the aforesaid, we believe that the current buoyancy in the economy
with the associated creation of jobs, bodes well for the future. We expect
overall trading conditions to improve in the fourth quarter of 2007.
For and on behalf of the board
I David Sussman Mias Strauss Gerald Volkel
Executive Chairman Chief Executive Officer Financial Director
Johannesburg
9 May 2007
Declaration of interim dividend number 47
Notice is hereby given that the board of directors has declared an interim
dividend of 246 cents per share (2006: 230 cents per share) for the six months
ended 28 February 2007. The dividend has been declared in the currency of the
Republic of South Africa.
In accordance with the settlement procedures of STRATE, the following dates will
apply to the interim dividend:
Last day to trade cum dividend Friday, 1 June 2007
Trading ex dividend commences Monday, 4 June 2007
Record date Friday, 8 June 2007
Dividend payment date Monday, 11 June 2007
Share certificates may not be dematerialised or rematerialised between Monday, 4
June 2007 and Friday, 8 June 2007, both days inclusive.
Merger with Steinhoff International Holdings Limited ("Steinhoff")
On 16 March 2007 it was announced that Steinhoff had submitted a notice to the
Group`s board of directors of its intention to acquire the entire issued
ordinary capital of the Group in exchange for the issue of new Steinhoff shares.
Steinhoff intends to implement the proposed merger by way of a scheme of
arrangement in terms of section 311 of the Companies Act. In terms of the scheme
each JD Group shareholder will receive 3,6 new Steinhoff shares for every one JD
Group share held on the record date of the scheme.
An announcement setting out the salient dates of the proposed merger will be
made shortly. The circular containing details of the proposed merger and scheme
will be posted to shareholders in due course.
Review by the independent auditors
The financial information presented has been reviewed, but not audited, by
Deloitte & Touche, whose unmodified review report is available for inspection at
the Company`s registered office.
CONDENSED INCOME STATEMENT
Restated*
Audited Reviewed Unaudited
12 months 6 months 6 months
ended ended ended
31 Aug 28 Feb 28 Feb Change
2006 2007 2006
R million R million R million %
8 423 Sale of merchandise 5 072 4 245 20
1 561 Finance charges earned 838 774 8
1 414 Financial services 879 786 12
541 Other services 318 280 14
11 939 Revenue 7 107 6 085 17
5 811 Cost of sales 3 494 2 895 21
3 399 Operating expenses before 1 927 1 728 12
the following:
112 Depreciation 55 47
33 Amortisation - intangible 19 15
assets
39 Share-based payment 16 21
(7) Surplus on disposal of (7) (5)
property, plant and
equipment
2 552 Operating profit before 1 603 1 384 16
debtors costs
528 Debtors costs (note 5) 379 272 39
2 024 Operating profit (note 2) 1 224 1 112 10
53 Investment income 36 25
57 Finance income (note 3) 20 22
(152) Finance costs (note 3) (81) (70)
6 Equity accounted profits 3 1
1 988 Profit before taxation 1 202 1 090 10
531 Taxation 330 282 17
1 457 Profit attributable to 872 808 8
shareholders
Earnings per share (cents)
826,5 - basic 491,2 460,4 7
805,1 - diluted 480,9 447,1 8
SUPPLEMENTARY INFORMATION
Audited Reviewed Unaudited
12 months 6 months 6 months
ended ended ended
31 Aug 28 Feb 28 Feb Change
2006 2007 2006
R million R million R million %
Reconciliation of headline
earnings
1 457 Profit attributable to 872 808 8
shareholders
(7) Surplus on disposal of (7) (5)
property, plant and
equipment
2 Taxation thereon 2 1
1 452 Headline earnings 867 804 8
178 000 Number of shares in issue 178 500 178 000
(000)
(646) Treasury shares held (000) (406) (1 355)
177 354 Number of shares held 178 094 176 645
outside the Group (000)
Weighted average number of
shares in issue (000)
176 271 - basic 177 631 175 540
180 964 - diluted 181 440 180 784
Headline earnings per share
(cents)
823,5 - basic 488,2 458,3 7
802,2 - diluted 477,9 445,0 7
412 Distribution to 246 230
shareholders (cents)
230 - Interim (proposed) 246 230 7
182 - Final
17,0 Operating margin (%) 17,2 18,3
The earnings and headline earnings per share are calculated on R thousands as
opposed to R million as presented.
CONDENSED BALANCE SHEET
Audited Reviewed Unaudited
31 Aug 28 Feb 28 Feb
2006 2007 2006
R million R million R million
Assets
1 380 Non-current assets 1 370 1 310
491 Property, plant and equipment 529 427
347 Goodwill 347 353
332 Intangible assets 313 351
124 Investments and loans 111 110
19 Interest in associate company 23 17
10 Interest in joint venture 8 8
57 Deferred taxation 39 44
8 735 Current assets 9 180 7 954
1 066 Inventories 1 304 1 078
6 046 Trade and other receivables (note 6 763 5 954
4)
5 Financial assets 1 -
1 Taxation 35 1
1 617 Bank balances and cash 1 077 921
10 115 Total assets 10 550 9 264
Equity and liabilities
Equity and reserves
2 057 Share capital and premium 2 072 2 057
(18) Treasury shares (11) (33)
193 Non-distributable and other 216 172
reserves
3 072 Retained income 3 505 2 747
322 Shareholders for dividend 438 406
5 626 Shareholders` equity 6 220 5 349
1 937 Non-current liabilities 1 687 1 528
1 151 Interest bearing long term 848 742
liabilities
65 Non-interest bearing long term 63 103
liability
721 Deferred taxation 776 683
2 552 Current liabilities 2 643 2 387
2 073 Trade, other payables and 2 169 1 969
provisions (note 6)
162 Interest bearing liabilities 388 256
317 Taxation 86 162
10 115 Total equity and liabilities 10 550 9 264
153 Directors` valuation of unlisted 142 135
investments
17 Capital expenditure authorised and 5 53
contracted
103 Capital expenditure authorised and 33 32
not yet contracted
1 227 Operating lease commitments 1 266 1 204
3 160,5 Net asset value per share (cents) 3 484,6 3 005,0
(5,4) Gearing ratio (net) (%) 2,6 1,4
CONDENSED CASH FLOW STATEMENT
Audited Reviewed Unaudited
12 months 6 months 6 months
ended ended ended
31 Aug 28 Feb 28 Feb
2006 2007 2006
R million R million R million
586 Cash flows from operating (413) 90
activities
2 193 Cash generated by trading 1 308 1 190
(704) Increase in working capital (855) (697)
1 489 Cash generated by operations 453 493
53 Investment income 36 25
(100) Finance costs - net (57) (48)
(155) Taxation paid (522) (87)
1 287 Cash (utilised by)/available from (90) 383
operating activities
(701) Dividends paid (323) (293)
(790) Cash flows from investing (72) (659)
activities
(516) Acquisition of Connection Group - (516)
(8) Acquisition of interest in joint - (8)
venture
21 Proceeds on disposal of Photo - -
Connection
(16) Investment and loan 13 -
receipts/(advances)
15 Proceeds on disposal of property, 10 6
plant and equipment
(286) Additions to property, plant and (95) (141)
equipment
237 Cash flows from financing (55) (94)
activities
60 Proceeds on disposal of treasury 22 45
shares by share incentive trust
500 Long term borrowings raised - -
(235) Long term borrowings repaid (33) (102)
(88) Finance lease liabilities repaid (44) (37)
33 Net (decrease)/increase in cash and (540) (663)
cash equivalents
1 584 Cash and cash equivalents at 1 617 1 584
beginning of period
1 617 Cash and cash equivalents at end of 1 077 921
period
286 Capital expenditure incurred 95 141
CONDENSED STATEMENT OF CHANGES IN EQUITY
Audited Reviewed Unaudited
31 Aug 2006 28 Feb 28 Feb
2007 2006
R million R million R million
2 057 Share capital and premium 2 072 2 057
1 995 Opening balance 2 057 1 995
62 Shares issued to share 15 62
incentive trust
(18) Treasury shares (11) (33)
(15) Opening balance (18) (15)
(62) Shares issued to share (15) (62)
incentive trust
60 Proceeds on disposal of 22 44
shares by share incentive
trust
(1) Profit on disposal of - -
treasury shares
93 Share-based payment reserve 109 75
54 Opening balance 93 54
39 Share-based payment 16 21
100 Non-distributable reserves 107 97
96 Opening balance 100 96
4 Translation of foreign 7 1
entities
3 072 Retained earnings 3 505 2 747
2 346 Opening balance 3 072 2 346
1 457 Profit attributable to 872 808
shareholders
(735) Distributable to shareholders (440) (412)
4 Distributable to share 1 5
incentive trust
322 Shareholders for dividend 438 406
292 Opening balance 322 292
735 Distributable to shareholders 440 412
(4) Distributable to share (1) (5)
incentive trust
(704) Paid to shareholders (325) (295)
3 Paid to share incentive trust 2 2
5 626 Balance at end of period 6 220 5 349
NOTES
1. Accounting policies
The accounting policies and methods of computation used in the preparation
of the interim profit announcement are consistent with those applied in the
previous financial year ended 31 August 2006, except for the adoption of the
following revised accounting standards which had no material impact on the
results:
- IAS 39 - Financial instruments: recognition and measurement
- IFRIC 4 - Determining whether an arrangement contains a lease
- IFRIC 8 - Scope of IFRS 2
- IFRIC 9 - Reassessment of embedded derivatives
These financial results were compiled in terms of IAS 34 Interim reporting
and the JSE Limited Listing Requirements.
2. Reconciliation of revenue to operating profit
Restated*
Audited Reviewed Unaudited
12 months 6 months 6 months
ended ended ended
31 Aug 28 Feb 28 Feb
2006 2007 2006
R million R million R million
11 939 Revenue 7 107 6 085
5 811 Cost of sales 3 494 2 895
250 Other direct operating expenses 113 135
618 Administration and IT 332 314
528 Debtors costs 379 272
380 Marketing 221 190
500 Occupancy 306 255
1 468 Employees 844 732
255 Transport and travel 140 127
33 Management fee 19 17
39 Share-based payment 16 21
33 Amortisation - intangible 19 15
assets
2 024 Operating profit 1 224 1 112
*The Group previously reflected discounts received from suppliers as other
income. In terms of circular 09/2006 issued by the South African Institute of
Chartered Accountants, the Group now accounts for discounts received from
suppliers as part of cost of sales (Impact for 28 February 2006: R37 million).
3. Finance costs - net
Audited Reviewed Unaudited
12 months 6 months 6 months
ended ended ended
31 Aug 28 Feb 28 Feb
2006 2007 2006
R million R million R million
Finance costs
151 Interest paid 77 69
1 Fair value losses on 4 1
financial instruments
152 81 70
Finance income
(51) Interest received (20) (21)
(6) Fair value gains on financial - (1)
instruments
(57) (20) (22)
95 Finance costs - net 61 48
4. Trade and other receivables
7 857 Instalment sale receivables(a) 8 840 7 907
(2 146) Less: Provisions (2 414) (2 202)
(1 100) Unearned finance charges (1 241) (1 150)
(488) Impairment (602) (469)
(558) Other(b) (571) (583)
5 711 Net instalment sale receivables 6 426 5 705
335 Other receivables 337 249
6 046 Total trade and other 6 763 5 954
receivables
27,3 Provisions as a percentage of 27,3 27,8
instalment sale receivables (%)
In accordance with industry norms, amounts due from instalment sale
receivables after one year are included in current assets. The credit terms
of instalment sale receivables range from 6 to 24 months.
a. Classified as loans and receivables and carried at amortised cost.
b. Other provisions consist of extended guarantees, unearned club and
insurance provisions.
5. Debtors costs
Audited Reviewed Unaudited
12 6 months 6 months
months
ended ended ended
31 Aug 28 Feb 28 Feb
2006 2007 2006
R R million R million
million
87 Increase in impairment 114 68
provision
441 Bad debts written off 265 204
528 379 272
6. Trade and other payables
The directors consider the carrying amount of trade and other payables to
approximate their fair values. The credit period of trade payables ranges
between 30 and 90 days.
7. Diluted earnings and headline earnings per share
The number of shares for diluted earnings purposes has been calculated
after considering the dilutive impact of share options and the cash value
to be received in future, in respect of unissued shares granted to
employees.
8. Related parties
The Group entered into various transactions with related parties which
occurred under terms that are no more favourable than those arranged with
independent third parties.
9. Contingent liabilities
Certain Group companies are involved in disputes where the outcome is
uncertain. In addition, the Group is regularly subject to an evaluation, by
the tax authorities, of its direct and indirect taxation filings and in
connection with such reviews, disputes sometimes arise with the taxation
authorities over the interpretation or application of certain taxation
rules applicable to the Group`s business. These disputes may not
necessarily be resolved in a manner that is favourable for the Group.
Additionally the resolution of the disputes could potentially result in an
obligation for the Group.
Towards the end of 2006, the South African Revenue Services ("SARS") issued
additional assessments against a group company, disallowing the tax
deduction that was claimed in relation to an intellectual property sale and
leaseback transaction entered into during 2001. The company objected
against the SARS assessment. The Group will, based on advice obtained from
senior counsel and other external advisors, continue to defend this
assessment and remains confident that is is unlikely that a significant
liability will arise in this regard.
During each of the periods presented, provisions have been made or adjusted
for estimated obligations related to taxation matters under review.
The Group remains in discussions with the relevant taxation authorities on
specific matters regarding the application and interpretation of taxation
legislation affecting the Group and the industry in which it operates. The
directors are confident that the Group will be able to defend any actions
and that the potential of significant outflow or settlement is remote.
10. Subsequent events
No significant events have occurred in the period between 28 February 2007
and the date of this announcement.
SEGMENTAL REPORT
6 months ended 28 February
Russells Joshua Doore
2007 2006 2007 2006
Revenue Rm 1 346 1 257 965 893
Operating Rm 373 343 244 224
profit
Depreciation Rm 1 1 1 1
Total assets Rm 1 891 1 707 1 424 1 258
Total current Rm 348 305 275 246
liabilities
Capital Rm 2 2 1 2
expenditure
Operating % 27,7 27,3 25,3 25,1
margin
Total sale of Rm 794 759 562 535
merchandise
Share of % 15,7 17,9 11,1 12,6
Group sale of
merchandise
Credit sales Rm 585 556 417 386
Percentage of % 73,7 73,3 74,2 72,1
total sales
Cash sales Rm 209 203 145 149
Percentage of % 26,3 26,7 25,8 27,9
total sales
Deposit rate on % 12,5 13,0 11,8 15,0
credit sales
Number of 203 201 149 146
stores
Retail square 143 534 141 986 110 517 111 403
metrage
Number of 3 385 3 238 2 778 2 607
employees
Instalment sale Rm 2 363 2 148 1 714 1 510
receivables -
gross
Bad debts Rm 71 58 45 34
written off
Bad debts % 3,0 2,7 2,6 2,3
written off as
a percentage of
gross
receivables
Receivables` Rm 204 171 120 95
arrears
Receivables` % 8,6 8,0 7,0 6,3
arrears as a
percentage of
gross
receivables
Collection rate % 6,9 7,2 6,9 7,1
Average length Months 14,5 13,9 14,5 14,1
of the book
Bradlows Price `n Pride
2007 2006 2007 2006
Revenue Rm 504 464 577 561
Operating Rm 112 95 124 128
profit
Depreciation Rm 1 1 1 1
Total assets Rm 742 658 930 876
Total current Rm 131 124 115 102
liabilities
Capital Rm 1 1 1 1
expenditure
Operating % 22,2 20,5 21,5 22,8
margin
Total sale of Rm 335 311 304 299
merchandise
Share of % 6,6 7,3 6,0 7,1
Group sale of
merchandise
Credit sales Rm 244 227 272 271
Percentage of % 72,8 73,0 89,5 90,6
total sales
Cash sales Rm 91 84 32 28
Percentage of % 27,2 27,0 10,5 9,4
total sales
Deposit rate on % 14,6 15,6 11,2 11,8
credit sales
Number of 93 88 124 119
stores
Retail square 68 950 65 144 72 091 72 315
metrage
Number of 1 547 1 462 2 040 1 997
employees
Instalment sale Rm 806 716 1 227 1 148
receivables -
gross
Bad debts Rm 14 11 58 41
written off
Bad debts % 1,7 1,5 4,7 3,6
written off as
a percentage of
gross
receivables
Receivables` Rm 50 45 140 119
arrears
Receivables` % 6,2 6,3 11,4 10,4
arrears as a
percentage of
gross
receivables
Collection rate % 7,6 7,9 5,9 6,0
Average length Months 13,2 12,7 16,9 16,7
of the book
Electric Express Morkels Barnetts
2007 2006 2007 2006 2007 2006
266 262 645 586 533 468
40 48 158 143 173 147
1 1
362 347 960 828 849 721
80 79 186 161 121 93
1 1 1 1
15,0 18,3 24,5 24,4 32,5 31,4
157 158 407 370 274 247
3,1 3,7 8,0 8,7 5,4 5,8
105 106 323 304 243 219
66,9 67,1 79,4 82,2 88,7 88,7
52 52 84 66 31 28
33,1 32,9 20,6 17,8 11,3 11,3
15,5 17,0 11,2 12,5 10,6 12,3
121 117 120 114 117 109
16 697 16 758 84 365 83 712 65 123 60 631
794 745 2 033 1 852 1 951 1 721
451 425 1 071 935 1 074 912
16 11 20 16 35 25
3,5 2,6 1,9 1,7 3,3 2,7
35 23 54 54 115 88
7,8 5,4 5,0 5,8 10,7 9,6
6,9 7,2 7,5 7,9 6,1 6,5
14,5 13,9 13,3 12,7 16,4 15,4
Credit chains
Supreme Sub-total
2007 2006 2007 2006
74 63 4 910 4 554
11 4 1 235 1 132
5 5
120 91 7 278 6 486
30 (1) 1 286 1 109
2 9 8
14,9 6,3 25,2 24,9
46 37 2 879 2 716
0,9 0,9 56,8 64,0
37 30 2 226 2 099
80,4 81,1 77,3 77,3
9 7 653 617
19,6 18,9 22,7 22,7
14,7 13,2 12,2 13,6
20 18 947 912
12 711 12 902 573 988 564 851
356 387 14 884 14 009
131 111 8 837 7 905
6 8 265 204
4,6 7,2 3,0 2,6
12 21 730 616
9,2 18,9 8,3 7,8
7,2 7,8 6,8 7,1
13,9 12,8 14,7 14,1
Hi-Fi Corporation Connection Group Abra
(3 months)
2007 2006 2007 2006 2007 2006
1 189 1 042 768 342 240 147
90 104 62 23 12 3
3 2 6 4 2 1
323 251 398 275 83 44
101 102 329 294 67 44
2 1 23 4 2 1
7,6 10,0 8,1 6,6 5,0 2,0
1 189 1 042 767 341 237 146
23,4 24,6 15,1 8,0 4,7 3,4
1 189 1 042 767 341 237 146
100,0 100,0 100,0 100,0 100,0 100,0
25 20 42 64 50 42
37 593 32 577 26 681 26 222 37 119 33 146
1 972 1 756 870 881 567 460
3 2
Corporate Group
2007 2006 2007 2006
7 107 6 085
(175) (150) 1 224 1 112
39 35 55 47
2 468 2 208 10 550 9 264
860 838 2 643 2 387
59 127 95 141
17,2 18,3
5 072 4 245
100,0 100,0
2 226 2 099
43,9 49,4
2 846 2 146
56,1 50,6
12,2 13,6
1 064 1 038
675 381 656 796
570 552 18 863 17 658
8 840 7 907
265 204
3,0 2,6
730 616
8,3 7,8
6,8 7,1
14,7 14,1
SEGMENTAL REPORT
Year ended 31 August 2006
Joshua Price
Russells Doore Bradlows `n Pride
Revenue Rm 2 372 1 674 885 1 014
Operating profit Rm 637 397 172 200
Depreciation Rm 2 2 1 2
Total assets Rm 1 696 1 249 659 839
Total current Rm 296 224 124 106
liabilities
Capital Rm 3 4 3 3
expenditure
Operating margin % 26,9 23,7 19,4 19,7
Total sale of Rm 1 414 989 591 527
merchandise
Share of Group % 16,8 11,8 7,0 6,3
sale of
merchandise
Credit sales Rm 1 022 713 429 472
Percentage of % 72,3 72,1 72,6 89,6
total sales
Cash sales Rm 392 276 162 55
Percentage of % 27,7 27,9 27,4 10,4
total sales
Deposit rate on % 13,0 14,4 15,6 12,1
credit sales
Number of stores 201 148 91 122
Revenue per R000 11 801 11 311 9 725 8 311
store
Retail square 141 843 109 105 66 913 72 571
metrage
Revenue per Rand 16 723 15 343 13 226 13 973
square metre
Number of 3 358 2 691 1 402 1 970
employees
Revenue per R000 706 622 631 515
employee
Instalment sale Rm 2 125 1 503 716 1 116
receivables -
gross
Bad debts Rm 119 73 25 88
written off
Bad debts % 5,6 4,9 3,5 7,9
written off as a
percentage of
gross
receivables
Receivables` Rm 180 100 43 127
arrears
Receivables` % 8,5 6,7 6,0 11,4
arrears as a
percentage of
gross
receivables
Collection rate % 7,2 7,1 7,9 6,0
Average length Months 13,9 14,1 12,7 16,7
of the book
Credit
Electric chains Hi-Fi
Express Morkels Barnetts Supreme Sub-total Corp
485 1 119 880 128 8 557 2 033
76 255 258 12 2 007 183
- 1 1 1 10 5
331 828 731 154 6 487 285
70 170 104 1 1 095 165
1 1 2 - 17 8
15,7 22,8 29,3 9,4 23,5 9,0
288 703 455 77 5 044 2 033
3,4 8,3 5,4 0,9 59,9 24,1
191 458 401 63 3 749
66,3 65,1 88,1 81,8 74,3
97 245 54 14 1 295 2 033
33,7 34,9 11,9 18,2 25,7 100,0
16,8 15,2 12,0 15,2 13,9
117 117 113 18 927 21
4 145 9 564 7 788 7 111 9 231 96 810
16 709 83 185 63 079 12 020 565 425 33 203
29 026 13 452 13 951 10 649 15 134 61 229
758 1 923 1 807 301 14 210 1 858
640 582 487 425 602 1 094
411 938 931 113 7 853 4
26 43 52 15 441
6,3 4,6 5,6 13,3 5,6
28 47 98 15 638
6,8 5,0 10,5 13,3 8,1
7,2 7,9 6,5 7,8 7,1
13,9 12,7 15,4 12,8 14,1
(9 months)
Connection
Group Abra Corporate Group
1 042 307 11 939
83 3 (252) 2 024
12 8 77 112
258 73 3 012 10 115
279 70 943 2 552
17 7 237 286
8,0 1,0 17,0
1 041 305 8 423
12,4 3,6 100,0
3 749
44,5
1 041 305 4 674
100,0 100,0 55,5
13,9
37 43 1 028
7 140 11 614
23 809 33 326 655 763
9 212 18 206
1 201 524 568 18 361
586 650
7 857
441
5,6
638
8,1
7,1
14,1
ADMINISTRATION
JD Group Limited ("JD" or "the Group")
Registration number 1981/009108/06
JSE code JDG
ISIN ZAE000030771
Executive directors ID Sussman (executive chairman), HC Strauss
(chief executive officer), JL Bezuidenhout,
JHC Kok, G Volkel
Non-executive director IS Levy
Independent non-executive ME King, Dr D Konar, M Lock, MJ Shaw
directors
Company secretary MI Jaye
Registered office 11th Floor, JD House, 27 Stiemens Street,
Braamfontein, Johannesburg, 2001
(PO Box 4208, Johannesburg, 2000)
Telephone +27 11 408 0408
Facsimile +27 11 408 0604
Email: info@jdg.co.za
Transfer secretaries Computershare Investor Services 2004
(Proprietary) Limited
70 Marshall Street, Johannesburg, 2001
Telephone +27 11 370 5000
Facsimile +27 11 370 5663
ADR depository File number 82-4401, The Bank of New York
Company Inc.
One Wall Street, New York, NY 10286,
United States of America
Telephone +1 212 495 1284
Facsimile +1 212 635 1121
Sponsor PSG Capital Limited, Building No 8, Woodmead
Estate
1 Woodmead Drive, Woodmead, Sandton, 2157
Telephone +27 11 797 8400
Facsimile +27 11 797 8435
Independent auditors Deloitte & Touche
ABRA
BARNETTS
BRADLOWS
ELECTRIC EXPRESS
HI-FI CORPORATION
INCREDIBLE CONNECTION
JOSHUA DOORE
MORKELS
PRICE `N PRIDE
RUSSELS
Date: 09/05/2007 15:10:07 Produced by the JSE SENS Department.
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