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PDF - 359KB - Truworths

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INTRODUCTIONHeadline earnings per share (HEPS) for the periodincreased by 21% to 456.0 cents, with fully dilutedHEPS 21% higher at 447.5 cents. Shareholders willreceive an annual dividend of 262 cents for the period,31% higher than the prior period. Headline earnings anddividends per share have grown at an annual compoundrate of 20% and 24% over the past five years, and 26%and 34% over the past ten years respectively.Wealth created for shareholders, comprising thegrowth in market capitalisation (excluding treasuryshares) and dividends declared, totalled R6.3 billionfor the period. Over the past five years the Group hascreated R24 billion in shareholder wealth.INTEGRATED REPORTINGThe introduction of integrated reporting this yearrepresents a fundamental shift in corporate reportingpractice. It is most encouraging that South Africa is atthe forefront of this practice which, over time, is expectedto become the global standard for financial reporting.We embrace integrated reporting and have attemptedthroughout this report to demonstrate the Group’s abilityto create and sustain value for our stakeholders.The Group’s corporate reporting has consistentlybeen rated in the ‘Excellent’ category in the Ernst &Young Excellence in Corporate Reporting awards. The2010 annual report has been placed in 7th position,and we have been ranked in the top ten in the countryfor the past four years. These independent awardsare acknowledged as the benchmark for corporatereporting in South Africa and recognise our ongoingcommitment to improving disclosure and enhancingreporting to stakeholders.As outlined in the introductory section, Commitment toIntegrated Reporting, on pages 2 and 3, the Group hasapplied the provisions of the new Companies Act (71of 2008, as amended) and will be providing summarisedfinancial statements to shareholders in this IntegratedAnnual Report. These audited abridged financialstatements appear on pages 118 to 126, whilethe Group audited annual financial statements areavailable on our website.O&.$,O&.$,NFNINKNMNGFIKMEJGGKGGLGGMGGNGG:RaD\R:Q0!@U:SRU1:@\U1V!0Q1RS!TR@OS!WR\D:Q!O\]T1RS_!:\!:QS!WSUSR1V!RS:1@VSR0!@U_SdNPPF NPPP MGGG MGGN MGGM MGGL MGGK MGGJ MGGI MGGH MGGF MGGP MGNG MGNNE!!:2(4"2$%,!@.$&2.+$-".+)!!_-6-7&.7,!?&2!,%+2&!!W&.&2+)!R&$+-)&2,!@.7&

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