Page 34 - C:\Users\Mziwenkosi Donga\OneDrive\Documents\Flip PDF\Sustainability Report 2021\

Growth

Turnover Cost of Goods Sold Gross profit Expenses Net profit
2021 R 69,938,146 R 44,856,492 R 25,081,492 R 21,747,933 R 2,721,532
2020 R 52,126,029 R 26,252,400 R 25,873,629 R 22,445,308 R 3,042,716

Difference R 17,812,117 R 18,604,254 -R 768,523 -R 698,333 -R 304,182
Total 34% 71% -3% -3% -10%

Corporate Governance

Executive Directors Salaries Fees
Mr. W. Arewa R 916,337

Mr. A. Peacock R 709,454
Total R 1,625,791

Profitability Measures

Operating profit was at R 4,225 m (FY 2020: R 3,779 m). Although we have large increases in insurance and
professional fees at the end of the financial year, this along with occupancy costs has resulted in a 3%
decrease in expenses as detailed below:

Year Ended Year Ended
Growth Rate %
28 Feb 2021 (R’000) 28 Feb 2020 (R’000)
Salaries and wages R 10,316 R 10,249 1%
Rental R 3,158 R 3,953 -20%

Office admin R 826 R 983 -16%
Insurance R 527 R 401 31%

Professional fees R 611 R 539 13%
Total R 21,746 R 22,445 (3%)

23