2002/05/23
WOOLWORTHS HOLDINGS LIMITED - AMENDMENT TO INTERIM RESULTS 30 DECEMBER 2001 [JSE Securities Exchange - SENS]
 
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
Source: JSE Securities Exchange - SENS
 
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