CHOPPIES ENTERPRISES LIMITED
For and on behalf of the Board
www.choppies.co.bw
ABRIDGED UNAUDITED GROUP FINANCIAL RESULTS
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Choppies Enterprises Botswana HY 2014 results

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Choppies Enterprises Botswana HY 2014 results

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Choppies Enterprises Botswana HY 2014 results

  1. 1. CHOPPIES ENTERPRISES LIMITED For and on behalf of the Board www.choppies.co.bw ABRIDGED UNAUDITED GROUP FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2013 F.G. Mogae (Chairman) R. Ottapathu (Chief Executive Officer) Registered Office Unit 5, Plot 115, Kgale Mews. P O Box 406, Gaborone, Botswana. Transfer Secretaries Grant Thornton Business Services (Pty) Ltd., Acumen Park, Plot 50370, Fairground Office Park. P O Box 1157, Gaborone Botswana. Auditors KPMG., Plot 67977, Off Tlokweng Road, Fairground Office Park. P O Box 1519, Gaborone, Botswana. Revenue 25% Gross Profit 31% 31% Earnings per Share COMMENTARY 1. Basis of presentation and accounting policies The financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) (which includes, IAS 34 Interim Financial Reporting), to the extent applicable to Interim Financial Reporting. The accounting policies have been applied consistently to all the periods presented. The financial statements are presented in Pula, which is considered the functional currency. The interim financial statements were reviewed, but not audited by KPMG. 2. Performance highlights – compared to 6 months ended 31 December 2012. Revenue up by 25% Gross profit up by 31% Operating profit up by 26% Profit after tax up by 31% Total current number of stores 104 Total current retail space 150,656 square meters Total employment crossed 10,000 Value addition of more than P 500 million for six months 3. Botswana Opened 11 new stores including 6 Supa Save Stores in the 6 months ended 31 December 2013. Retail space of 14,788 square meters were added Total number of stores – 67 Total retail space 87,654 square meters Total number of employees 6,399 Net Profit 4. South Africa Opened 5 new stores in the 6 months ended 31 December 2013. Retail space of 10,690 square meters added. After 31 December 2013, three more new stores were opened Total current number of stores 24 Total current retail space 47,878 square meters Total number of employees 2,994 5. Zimbabwe Commenced operations in Zimbabwe with 11 stores on 26 October, 2013. Added one new store in December 2013 and another one in January 2014 Total current retail space 15,124 square meters Total number of employees 882 6. Prospects As part of our further expansion plans, we expect to open many more stores in South Africa, Zimbabwe and Botswana in the current fiscal year. 7. Dividend A dividend will only be declared and distributed after the finalisation of the financial statements for the year ended 30 June 2014. ABRIDGED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ABRIDGED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ABRIDGED CONSOLIDATED STATEMENT OF CASHFLOWS ABRIDGED SEGMENTAL RESULTS ABRIDGED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 48% Asset Value 25% * *Two months of operation

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