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Selected financial data
| 2006/07(1) £m |
2006/07(1)(2) £m |
2005/06 £m |
2004/05 £m |
|
|---|---|---|---|---|
| Amounts under Adopted IFRS Income statement: | ||||
| Sales | 1,893.2 | 3,729.6 | 1,752.3 | 1,615.5 |
| Cost of sales(3) | (1,644.9) | (3,240.5) | (1,516.3) | (1,371.8) |
| Gross profit | 248.3 | 489.1 | 236.0 | 243.7 |
| Administrative expenses | (75.6) | (148.9) | (74.1) | (69.8) |
| Other operating income | 48.7 | 96.0 | 46.3 | 38.6 |
| Operating profit | 221.4 | 436.2 | 208.2 | 212.5 |
| Financing costs (net) | (8.2) | (16.2) | (7.8) | (8.6) |
| Profit before tax | 213.2 | 420.0 | 200.4 | 203.9 |
| Taxation | (71.7) | (141.2) | (69.6) | (69.1) |
| Profit for the period | 141.5 | 278.8 | 130.8 | 134.8 |
| Earnings per share – basic | 8.2p | $0.16 | 7.5p | 7.8p |
| Earnings per share – diluted | 8.2p | $0.16 | 7.5p | 7.8p |
| Earnings per ADS – basic | 81.9p | $1.61 | 75.3p | 77.8p |
| Earnings per ADS – diluted | 81.6p | $1.61 | 75.1p | 77.6p |
| Balance sheet (at period end): | ||||
| Working capital(4) | 888.2 | 1,749.8 | 693.8 | 726.0 |
| Total assets | 1,505.1 | 2,965.0 | 1,471.0 | 1,310.3 |
| Cash and cash equivalents | 77.3 | 152.3 | 52.5 | 102.4 |
| Long-term debt | (192.9) | (380.0) | – | (132.8) |
| Total debt | (195.7) | (385.5) | (151.1) | (185.9) |
| Total equity | 886.3 | 1,746.0 | 878.9 | 771.7 |
| 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. | ||||
| 2006/07(1) £m |
2006/07(1)(2) £m |
2005/06 £m |
2004/05 £m |
2003/04 £m |
2002/03 £m |
|
|---|---|---|---|---|---|---|
| Amounts under US GAAP Consolidated Statement of Income: | ||||||
| Operating income | 216.9 | 427.3 | 203.8 | 211.5 | 206.6 | 198.7 |
| Net income | 134.4 | 264.8 | 132.2 | 137.5 | 127.4 | 119.5 |
| Income per share – basic | 7.8p | 15.3¢ | 7.6p | 7.9p | 7.4p | 7.0p |
| Income per share – diluted | 7.6p | 15.0¢ | 7.6p | 7.9p | 7.4p | 6.9p |
| Income per ADS – basic | 77.8p | 153.3¢ | 76.1p | 79.4p | 74.1p | 69.9p |
| Income per ADS – diluted | 76.1p | 150.0¢ | 76.0p | 79.1p | 73.6p | 69.2p |
| Dividends proposed per share | 3.6p | 7.2¢ | 3.3p | 3.0p | 2.5p | 2.1p |
| Balance sheet data (at period end): | ||||||
| Total assets | 1,766.7 | 3,480.4 | 1,642.5 | 1,477.0 | 1,417.8 | 1,353.8 |
| Cash and cash equivalents | 77.3 | 152.3 | 52.5 | 102.4 | 128.0 | 89.2 |
| Long term debt | (192.9) | (380.0) | – | – | (8.3) | (24.2) |
| Total debt | (195.7) | (385.5) | (151.1) | (53.1) | (70.0) | (76.3) |
| Shareholders' equity | 1,130.9 | 2,227.9 | 1,165.5 | 1,056.0 | 988.5 | 947.5 |
| (1) 53 week year. (2) Amounts in pounds sterling are translated into US dollars solely for the convenience of the reader, at a rate of £1.00 to $1.97, the Noon Buying Rate on 3 February 2007. (3) Cost of sales includes all costs incurred in the purchase, processing and distribution of merchandise and in the operation and support of retail outlets. (4) Working capital represents current assets (excluding amounts recoverable after more than one year) less current liabilities. |
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The Group took the exemption not to restate comparatives for IAS 32 'Financial instruments: disclosure and presentation' and IAS39 'Financial instruments: recognition and measurement' in 2005/06.
The selected consolidated financial data set out on the preceding page for 2004/05, 2005/06 and 2006/07 has been derived, in part , from the audited consolidated accounts for such periods included elsewhere in this Annual Report & Accounts. The selected consolidate d financial data should be read in conjunction with the accounts, including the notes thereto, and the Financial review included here of this Annual Report & Accounts .
The accounts of the Group have been prepared in accordance with Adopted IFRS which differ in certain respects from US GAAP .
See here for information on the material differences between Adopted IFRS and US GAAP that affect the Group's profit an d shareholders' funds .
Results of operations
The following table sets out certain consolidated financial data as a percentage of reported sales:
| Percentage of sales | |||
|---|---|---|---|
| 2006/07(1) % |
2005/06 % |
2004/05 % |
|
| Sales | 100.0 | 100.0 | 100.0 |
| Cost of sales(3) | (86.9) | (86.5) | (84.9) |
| Gross profit | 13.1 | 13.5 | 15.1 |
| Administrative expenses | (4.0) | (4.2) | (4.3) |
| Other operating income | 2.6 | 2.6 | 2.4 |
| Operating profit | 11.7 | 11.9 | 13.2 |
| Net financing costs | (0.4) | (0.4) | (0.5) |
| Profit before taxation | 11.3 | 11.5 | 12.7 |
| Taxation | (3.8) | (4.0) | (4.4) |
| Profit for the period | 7.5 | 7.5 | 8.3 |
| (1) 53 week year. (2) Cost of sales includes all costs incurred in the purchase, processing and distribution of merchandise and in the operation and support of retail outlets. |
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