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WOOLWORTHS HOLDINGS LIMITED - AMENDMENT TO INTERIM RESULTS 30 DECEMBER 2001
WOOLWORTHS HOLDINGS LIMITED
AMENDMENT TO INTERIM RESULTS 30 DECEMBER 2001
A minor error occurred in our results announcement for the six months ended
30 December 2001 announced on 21 February 2002. To avoid any confusion it
may have caused, the position is corrected below.
The allocation between continuing and discontinued operations in the
restated results for the year ended 30 June 2001 was inaccurate. Headline
earnings from all operations for the year ended 30 June 2001 remains
unaffected. Headline earnings per share from continuing operations for the
year ended 30 June 2001 was 32,3 cents per share and not 31,5 cents per
share, as previously stated. The results for the interim period ended 30
December 2001 remain unchanged.
The full details of the changes are as follows :
WOOLWORTHS HOLDINGS LIMITED
AUDITED GROUP RESULTS FOR
THE YEAR ENDED 30 JUNE 2001
INCOME STATEMENT
Year ended 30 June 2001
As reported Restated
Rm Rm
Revenue 7 411.1 7 411.1
Continuing operations 7 173.1 7 120.6
Discontinued operations 238.0 290.5
Expenses 6 994.5 6 994.5
Continuing operations 6 746.1 6 685.2
Cost of merchandise 4 511.7 4 484.5
Depreciation 201.3 199.9
Occupancy cost 383.4 374.6
Employment cost 1 050.9 1 042.6
Other operating cost 562.7 547.5
Interest paid 36.1 36.1
Discontinued operations 248.4 309.3
Share of loss from joint venture
- continuing operations 1.7 1.7
Net profit/(loss) before exceptional items 414.9 414.9
Continuing operations 425.3 433.7
Discontinued operations (10.4) (18.8)
Exceptional items - -
Provision for discontinuance - -
Restructuring costs - -
Write-down of listed investment - -
Net profit before tax 414.9 414.9
Continuing operations 425.3 433.7
Discontinued operations (10.4) (18.8)
Tax 147.2 147.2
Net profit after tax 267.7 267.7
Outside shareholders` interest 3.6 3.6
Net profit attributable to ordinary shareholders 271.3 271.3
Headline earnings per share (cents)
- All operations 30.5 30.5
- Continuing operations 31.5 32.3
Earnings per share (cents)
- All operations 30.1 30.1
- Continuing operations 31.1 31.9
Diluted earnings per share (cents) 29.9 29.9
Dividend per share (cents) 15.0 15.0
Dividend cover (based on headline earnings) 2.0 2.0
Number of shares issued (millions) 908.1 908.1
Weighted average number of shares in
issue (millions) 899.8 899.8
Year ended 30 June 2001
As reported Restated
Rm Rm
GROUP ANALYSIS
Revenue
Turnover 7 069.3 7 069.3
Woolworths 5 955.4 5 955.4
- Textiles 3 258.9 3 258.9
- Foods 2 566.0 2 566.0
- Other 130.5 130.5
Country Road 1 113.9 1 113.9
Continuing operations 875.9 823.4
Discontinued operations 238.0 290.5
Interest 294.6 294.6
Other revenue 47.2 47.2
7 411.1 7 411.1
Net profit/(loss) before
tax and exceptional items
Woolworths 446.4 446.4
Country Road (31.5) (31.5)
Continuing operations (21.1) (12.7)
Discontinued operations (10.4) (18.8)
414.9 414.9
Contact person: Norman Thomson (acting financial director)
Tel: (021) 407-3337
Date: 23/05/2002 08:30:00 AM Produced by the SENS Department
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