Accounts
Consolidated income statement
Year ended 30 January 2010
| 2009/10 | 2008/09 | |||||||
|---|---|---|---|---|---|---|---|---|
£ millions |
Notes |
Before exceptional items | Exceptional items (note 5) |
Total |
Before exceptional items | Exceptional items (note 5) |
Total |
|
| Sales | 4 | 10,503 | – | 10,503 | 10,026 | – | 10,026 | |
| Cost of sales | (6,706) | – | (6,706) | (6,504) | (21) | (6,525) | ||
| Gross profit | 3,797 | – | 3,797 | 3,522 | (21) | 3,501 | ||
| Selling and distribution expenses | (2,712) | – | (2,712) | (2,624) | (105) | (2,729) | ||
| Administrative expenses | (536) | – | (536) | (496) | (124) | (620) | ||
| Other income | 31 | 17 | 48 | 22 | 13 | 35 | ||
| Share of post-tax results of joint ventures and associates | 17 | 26 | – | 26 | 22 | (36) | (14) | |
| Operating profit | 606 | 17 | 623 | 446 | (273) | 173 | ||
| Analysed as: | ||||||||
| Retail profit | 4 | 664 | 17 | 681 | 503 | (113) | 390 | |
| Impairment of goodwill and investment in associate | – | – | – | – | (160) | (160) | ||
| Central costs | (41) | – | (41) | (41) | – | (41) | ||
| Share of interest and tax of joint ventures and associates | (17) | – | (17) | (16) | – | (16) | ||
| Finance costs | (76) | – | (76) | (119) | – | (119) | ||
| Finance income | 19 | – | 19 | 36 | – | 36 | ||
| Net finance costs | 6 | (57) | – | (57) | (83) | – | (83) | |
| Profit before taxation | 7 | 549 | 17 | 566 | 363 | (273) | 90 | |
| Income tax expense | 9 | (174) | (7) | (181) | (95) | 7 | (88) | |
| Profit from continuing operations | 375 | 10 | 385 | 268 | (266) | 2 | ||
| Profit from discontinued operations | 34 | – | – | – | 26 | 178 | 204 | |
| Profit for the year | 375 | 10 | 385 | 294 | (88) | 206 | ||
| Attributable to: | ||||||||
| Equity shareholders of the Company | 388 | 209 | ||||||
| Minority interests | (3) | (3) | ||||||
| 385 | 206 | |||||||
| Earnings per share | 10 | |||||||
| Continuing operations: | ||||||||
| Basic | 16.5p | 0.2p | ||||||
| Diluted | 16.4p | 0.2p | ||||||
| Adjusted basic | 16.4p | 11.0p | ||||||
| Adjusted diluted | 16.3p | 11.0p | ||||||
| Total operations: | ||||||||
| Basic | 16.5p | 8.9p | ||||||
| Diluted | 16.4p | 8.9p | ||||||
The proposed final dividend for the year ended 30 January 2010, subject to approval by shareholders at the Annual General Meeting, is 3.575p per share.