Annual Report - JD Group

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Notes to the <strong>Group</strong> annual financial statements continued 38 2004 2003 Rm Rm 6. Taxation South African taxation Normal – current 142,1 20,0 – prior 0,8 (3,1) Deferred – current 178,3 143,6 – prior (0,9) – Secondary taxation on companies (deferred) 29,2 5,5 349,5 166,0 Foreign taxation Normal – current 4,6 – – prior 0,9 1,3 Deferred – current (2,2) (9,8) – prior 1,1 – – rate adjustment – 2,5 Withholding and other – 0,1 4,4 (5,9) Total taxation 353,9 160,1 Dealt with as follows Current taxation 148,4 23,8 Deferred taxation 205,5 136,3 Total taxation 353,9 160,1 Reconciliation of taxation charge Domestic standard normal rate of taxation (%) 30,0 30,0 Taxation at standard rate 343,2 182,4 Adjusted for Foreign tax rate differential 1,6 2,2 Expenditure disallowed 32,1 3,3 Exempt income (92,3) (58,2) Prior years 1,9 (3,1) Deferred tax asset not raised 38,2 25,4 Secondary taxation on companies (included in deferred taxation) 29,2 5,5 Withholding taxes – 0,1 Rate adjustment – 2,5 Taxation charged to income 353,9 160,1 Effective rate of taxation (%) 30,9 26,3 Estimated tax losses available for set off against future taxable income Tax losses available 419,8 331,5 Deferred tax assets not raised 243,3 98,2 Deferred tax assets raised 176,5 233,3 Tax effect at country rate of tax (note 13) 50,8 54,6 Deferred tax assets relating to tax losses of R243,3 million (2003: R98,2 million) have not been raised in accordance with <strong>Group</strong> policy because the probability of utilising these losses in the foreseeable future is considered to be remote.
39 2004 2003 7. Earnings per share and headline earnings per share The calculation of earnings per share is based on income attributable to shareholders of R million 790 449 Basic Weighted average number of shares in issue during the year of (000) 166 930 133 196 Cents Cents Earnings per share 473,3 337,3 Surplus on disposal of property, plant and equipment (4,2) (1,4) Goodwill amortised 1,2 4,2 Loss on disposal and closure of BoConcept 29,9 – Loss on closure of Profurn legacy stores 20,5 – Taxation effect thereon 1,3 0,4 Headline earnings per share 522,0 340,5 Diluted Dilutive effect of bonus element in share options (000) 5 563 1 575 Diluted weighted average number of shares in issue during the year of (000) 172 493 134 771 Cents Cents Earnings per share 458,1 333,4 Surplus on disposal of property, plant and equipment (4,1) (1,4) Goodwill amortised 1,2 4,1 Loss on disposal and closure of BoConcept 28,9 Loss on closure of Profurn legacy stores 19,8 Taxation effect thereon 1,3 0,4 Headline earnings per share 505,2 336,5 The above are calculated based on rand amounts. Rm Rm 8. Distribution to shareholders Final dividend prior year – declared 68 cents on 166 830 000 shares (2002: 22 cents on 112 730 000 shares) (113) (24) – paid 68 cents on 169 000 000 shares (2002: 22 cents on 112 730 000 shares) Interim dividend 115 24 – declared and paid 90 cents on 172 000 000 shares (2003: 42 cents on 112 730 000 shares) Final dividend 155 47 – declared 150 cents on 172 000 000 shares (2003: 68 cents on 166 830 000 shares) 258 113 Total distribution to shareholders 415 160
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21 Years Young Annual Report 2004
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In only 21 years, JD has grown from
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PROFILE JD Group, a mass consumer f
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Corporate objectives and opportunit
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Abra Barnetts Bradlows Electric Exp
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By 1986 trains can travel faster th
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Executive management Arie Neven (45
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Group value added statement 13 2004
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■ Revenue up by 52% to R9,1 billi
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“Wars are won in the planning roo
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possible for me to mention by name
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1990 1992 1994 The first McDonalds
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Social citizenship “. . . and our
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one million account holders. Based
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1996 1998 2000 Penny Heyns scoops 3
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Abra - practical solutions for your
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Bradlows - you’re the difference
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Hi-Fi Corporation - the lowest pric
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Morkels - your two year guarantee s
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Russells - your home lifestyle part
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Score is absorbed into a reposition
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Ensuring that Group credit manageme
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Managing the procurement, maintenan
Page 47 and 48: Comprises a direct audit services d
Page 49 and 50: Group marketing is tasked to consta
Page 51 and 52: Responsible for the Group’s prope
Page 53 and 54: Influencing and shaping the Group
Page 55 and 56: A dream made real through the dedic
Page 57 and 58: Maxx New Media Concept and design G
Page 59 and 60: A brighter future to come Annual Fi
Page 61 and 62: “the way you behave when you are
Page 63 and 64: JD Group Limited board and manageme
Page 65 and 66: The purpose of this committee is to
Page 67 and 68: Employment benefits funds Approxima
Page 69 and 70: Fraud and illegal acts JD Group doe
Page 71 and 72: 14 months 12 months 31 August 31 Au
Page 73 and 74: 14 months 12 months 31 August 31 Au
Page 75 and 76: To the members of JD Group Limited
Page 77 and 78: Subsidiary companies Details of the
Page 79 and 80: Retirement Medical Cash Share schem
Page 81 and 82: Options Sale/ Sale/ exercised Date
Page 83 and 84: Options Sale/ Sale/ exercised Date
Page 85 and 86: Basis of accounting The annual fina
Page 87 and 88: are allocated using the effective i
Page 89 and 90: unrecognised actuarial gains and lo
Page 91 and 92: 31 Group balance sheet Restated 200
Page 93 and 94: 33 Notes to the Group cash flow sta
Page 95 and 96: 35 Notes to the Group annual financ
Page 97: 37 2004 2003 Rm Rm 4. Finance costs
Page 101 and 102: Vehicles and Computer Office equipm
Page 103 and 104: Vehicles and Computer Office equipm
Page 105 and 106: 45 2004 2003 Rm Rm 12. Investments
Page 107 and 108: 47 2004 2003 Rm Rm 15. Share capita
Page 109 and 110: 18. Interest bearing liabilities co
Page 111 and 112: 22. Financial risk management conti
Page 113 and 114: 24. JD Group/Nedcor alliance The JD
Page 115 and 116: 55 Segmental analysis - geographica
Page 117 and 118: Electric Express Morkels Barnetts S
Page 119 and 120: Corporate Group 2004 2003 2004 2003
Page 121 and 122: Salient features of The JD Group Em
Page 123 and 124: 63 JD Group Limited - company finan
Page 125 and 126: Issued share capital Shares Direct
Page 127 and 128: 67 Notice to shareholders Notice is
Page 129 and 130: Material changes Other than the fac
Page 131 and 132: JD Group Limited (Registration numb
Page 133 and 134: Shareholders’ diary Financial yea
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Annual Report - JD Group

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