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definitions


Cash flow    
   Financing activities   Activities that result in changes to the capital structure of the group.
   Investing activities   Activities relating to the acquisition, holding and disposal of capital assets and long-term investments.
   Operating activities   Activities that are not financing or investing activities that arise from the operations conducted by the group.
Comparable stores turnover growth   Sales growth expressed as a percentage of growth for stores that have been operating for the full period during the current and previous financial years.
Current ratio   Current assets at year-end divided by current liabilities at year-end.
Distribution cover   Undiluted headline earnings per share for the year divided by the distribution per share for the year.
Distribution per share   Distribution per share is the actual interim cash dividend and/or capital distribution paid and the final cash dividend and/or capital distribution declared expressed as cents per share.
Earnings per share    
   Basic earnings per share   Profit for the year divided by the weighted average number of shares in issue for the year.
   Diluted earnings per share   Profit for the year divided by the weighted average diluted number of shares in issue for the year.
   Headline earnings per share   Headline earnings divided by the weighted average number of shares in issue for the year.
   Diluted headline earnings per share   Headline earnings divided by the weighted average diluted number of shares in issue for the year.
Effective tax rate   The tax charge in the income statement as a percentage of profit before tax.
Free float   The number of shares that are freely tradable on the JSE Limited, excluding treasury shares and shares held by directors and employee share schemes.
Gross profit margin   Gross profit expressed as a percentage of turnover.
Headline earnings   Profit for the year adjusted for the after tax effect of goodwill impairment and other capital items.
Headline earnings per employee   Headline earnings divided by the number of permanent employees in service at the year-end.
IFRS   International Financial Reporting Standards, as adopted by the International Accounting Standards Board (“IASB”), and interpretations issued by the International Reporting Interpretations Committee (“IFRIC”) of the IASB.
    New Clicks Holdings’ consolidated financial statements are prepared in accordance with IFRS.
Interest-bearing debt to shareholders’ 
interest at the end of the year
  Interest-bearing debt (including bank overdraft) at the end of the year divided by shareholders’ interest at the end of the year.
Inventory turn   Turnover for the year divided by the closing inventory at year-end.
JIBAR   Johannesburg Inter-Bank Agreement Rate, which is the rate that South African banks charge each other for wholesale money.
Market capitalisation   The market price per share at year-end multiplied by the number of shares in issue at year-end.
Net asset value per share   Net assets at year-end divided by the number of shares in issue at year-end (net of treasury shares).
Net tangible asset value per share   Net assets at year-end less intangible assets and goodwill, divided by the number of shares in issue at year-end (net of treasury shares).
Operating profit   Operating profit before financing costs as reported in the consolidated income statement, adjusted to exclude goodwill impairment, impairment of property, plant and equipment and profit/loss on disposal of property, plant and equipment.
Operating profit margin   Operating profit expressed as a percentage of turnover.
Percentage of shares traded   The number of shares traded on the JSE Limited during the year as a percentage of the weighted average number of shares in issue.
Price earnings ratio   The market price per share at year-end divided by undiluted headline earnings per share for the year.
Product price inflation    The change in the weighted average selling price of a sample of products for the year relative to the previous year expressed as a percentage of the weighted average selling price of the same sample of products for the previous year. Only products sold in both the current and previous years are included in the sample.
Return on assets managed   Operating profit/loss expressed as a percentage of average property, plant and equipment, inventory, investment properties, intangible assets (excluding goodwill and trademarks) and trade and other receivables for the year. Trade and other receivables are not allocated to retail business units.
Return on shareholders’ interest    Headline earnings expressed as a percentage of the average ordinary shareholders’ interest for the year.
Return on total assets   Headline earnings expressed as a percentage of the average total assets for the year.
Segmental reporting    
   Operational segment   A distinguishable type of operation within the group.
   Trading segment   A distinguishable trading brand or component of the group.
Shareholders’ interest   Ordinary share capital and share premium (reduced by the cost of treasury shares), and other reserves comprising equity.
Treasury shares    Ordinary shares in New Clicks Holdings Limited acquired by a group company in terms of an approved share repurchase programme or held by the New Clicks Holdings Share Trust.
Weighted average number of shares    The number of shares in issue, increased by shares issued during the year and decreased by treasury shares purchased or shares cancelled during the year, weighted on a time basis for the period during which they have participated in the income of the group.
Weighted average diluted number of shares   The weighted average number of shares, adjusted for the effects of all dilutive potential ordinary shares.