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Five year financial summary
| 2006/07(1) £m |
2005/06 £m |
2004/05 £m |
2003/04(2) £m |
2002/03(2) £m |
||
|---|---|---|---|---|---|---|
| Income statement: | ||||||
| Sales | 1,893.2 | 1,752.3 | 1,615.5 | 1,605.5 | 1,598.5 | |
| Cost of sales | (1,644.9) | (1,516.3) | (1,371.8) | (1,372.7) | (1,378.2) | |
| Gross profit | 248.3 | 236.0 | 243.7 | 232.8 | 220.3 | |
| Administrative expenses | (75.6) | (74.1) | (69.8) | (67.3) | (65.0) | |
| Other operating income | 48.7 | 46.3 | 38.6 | 37.6 | 38.6 | |
| Operating profit | 221.4 | 208.2 | 212.5 | 203.1 | 193.9 | |
| Financing costs (net) | (8.2) | (7.8) | (8.6) | (10.4) | (14.0) | |
| Profit before tax | 213.2 | 200.4 | 203.9 | 192.7 | 179.9 | |
| Taxation | (71.7) | (69.6) | (69.1) | (69.4) | (65.3) | |
| Profit for the period | 141.5 | 130.8 | 134.8 | 123.3 | 114.6 | |
| Earnings per share(3) | 8.2p | 7.5p | 7.8p | 7.2p | 6.7p | |
| Dividends per share | 3.60p(4) | 3.30p | 3.00p | 2.50p | 2.11p | |
| Balance sheet: | ||||||
| Working capital | 888.2 | 693.8 | 726.0 | 661.9 | 626.5 | |
| Total assets | 1,505.1 | 1,471.0 | 1,310.3 | 1,265.5 | 1,239.5 | |
| Cash and cash equivalents | 77.3 | 52.5 | 102.4 | 128.0 | 89.2 | |
| Short term debt | (2.8) | (151.1) | (53.1) | (61.7) | (55.3) | |
| Long term debt | (192.9) | - | (132.8) | (146.2) | (174.0) | |
| Total equity | 886.3 | 878.9 | 771.7 | 700.2 | 646.8 | |
| Shares in issue (million) | 1,713.6 | 1,738.8 | 1,735.6 | 1,726.2 | 1,713.8 | |
| Cash flow: | ||||||
| Capital expenditure | 66.2 | 75.9 | 70.5 | 50.9 | 49.5 | |
| Investment in working capital | 92.3 | 71.2 | 86.1 | 45.7 | 56.0 | |
| Depreciation and amortisation | 50.3 | 46.2 | 41.7 | 40.4 | 37.8 | |
| Net debt(3) | (118.4) | (98.6) | (83.5) | (79.9) | (140.1) | |
| Ratios: | ||||||
| Gearing(3) | 13.4% | 11.2% | 10.8% | 11.4% | 21.6% | |
| Return on capital employed(3) | 22.8% | 22.4% | 26.3% | 25.7% | 24.9% | |
| Fixed charge cover(3) | 2.0x | 2.0x | 2.2x | 2.1x | 2.1x | |
| Store data: | ||||||
| Stores numbers (at end of period) | ||||||
| US | 1,308 | 1,221 | 1,156 | 1,103 | 1,050 | |
| UK | 581 | 593 | 602 | 604 | 610 | |
| Percentage increase/(decrease) in like for like sales: | ||||||
| US | 6.2% | 7.1% | 5.9% | 4.6% | 5.4% | |
| UK | 1.2% | (8.2)% | 3.0% | 5.5% | 5.2% | |
| Group | 4.8% | 2.4% | 5.0% | 4.9% | 5.3% | |
| Average sales per store (£'000s)(5) | ||||||
| US | 1,068 | 1,072 | 976 | 1,028 | 1,074 | |
| UK | 831 | 813 | 866 | 824 | 747 | |
| Number of employees (full-time equivalents) | 16,836 | 15,652 | 15,145 | 14,502 | 14,160 | |
(2) Based on Historic UK GAAP, restated for Adopted IFRS, and are therefore unaudited.
(3) Earnings per share, net debt, gearing, return on capital employed and fixed charge cover are defined in Definitions.
(4) Final dividend translated at US dollar to pound sterling exchange rate of 2.00, being the Noon Buying Rate on 17 April 2007.
(5) Including only stores operated for the full financial period.
The financial data included in the Five year financial summary above has been derived, in part, from the consolidated accounts for such periods included elsewhere in this Annual Report. The financial data should be read in conjunction with the accounts, including the notes thereto, and the Financial review included in financial review.
Further selected financial data is shown here. The accounts of the Group for 2006/07, 2005/06 and 2004/05 have been prepared in accordance with Adopted IFRS, which differs in certain respects from US GAAP. The Group took the exemption not to restate comparatives for IAS 32 ’Financial instruments: disclosure and presentation' and IAS 39 ’Financial instruments: recognition and measurement' in 2005/06. See notes to the accounts for information on the material differences between Adopted IFRS and US GAAP that affect the Group's profit and shareholders' equity. The data for 2003/04 and 2002/03 is based on Historic UK GAAP accounts restated for Adopted IFRS and is therefore unaudited.