Accounts

Group five year financial summary

£ millions	2005/06 ¹ 52 weeks	2006/07 ^1,2 53 weeks	2007/08 ^1,2 52 weeks	2008/09 52 weeks	2009/10 52 weeks
Income statement, like-for-like sales growth, effective tax rate, basic and adjusted earnings per share and gross capital expenditure restated for discontinuance of Castorama Italy in 2008/09. Like-for-like sales growth in 2006/07 calculated by comparing 53 weeks against the equivalent 53 weeks of the prior year. 2007/08 growth calculated by comparing 52 weeks against the equivalent 52 weeks of the prior year. This only impacted UK operations with all other operations reporting on a calendar basis. The effect of the 53rd week on 2006/07 results was an increase of £79m in reported sales, but with no significant impact on operating profit. Net current assets/(liabilities) and other net non-current liabilities reported above exclude any components of net debt. Excluding business acquisitions.
Income statement
Sales	7,743	8,364	9,050	10,026	10,503
Retail profit	504	473	469	503	664
Central costs	(38)	(39)	(40)	(41)	(41)
Share of interest and tax of joint ventures and associates	(10)	(13)	(5)	(16)	(17)
Operating profit before exceptional items	456	421	424	446	606
Net finance costs before financing fair value remeasurements	(40)	(55)	(67)	(78)	(59)
Adjusted pre-tax profit	416	366	357	368	547
Exceptional items	(215)	49	4	(273)	17
Financing fair value remeasurements	2	5	5	(5)	2
Profit before taxation	203	420	366	90	566
Income tax expense	(82)	(102)	(114)	(88)	(181)
Profit from continuing operations	121	318	252	2	385

Balance sheet
Goodwill and other intangible assets	2,660	2,641	2,617	2,469	2,465
Property, plant and equipment and investment property	3,281	3,240	3,727	3,723	3,636
Investments in joint ventures and associates	185	185	204	219	234
Net current assets/(liabilities) ³	72	(51)	(23)	(278)	(648)
Post employment benefits	(240)	(55)	77	(74)	(198)
Other net non-current liabilities ³	(282)	(245)	(319)	(257)	(284)
Capital employed	5,676	5,715	6,283	5,802	5,205
Equity shareholders’ funds	4,311	4,414	4,713	4,783	4,945
Minority interests	10	7	11	15	10
Net debt	1,355	1,294	1,559	1,004	250
Capital employed	5,676	5,715	6,283	5,802	5,205

KPIs
Like-for-like sales growth	(2.4%)	0.8%	2.8%	(4.1%)	(1.5%)
Effective tax rate	33%	32%	31%	31%	30%
Basic earnings per share (pence)	5.2	13.6	10.9	0.2	16.5
Adjusted basic earnings per share (pence)	11.8	10.6	10.6	11.0	16.4
Dividend per share (pence)	10.65	10.65	7.25	5.325	5.5
Gross capital expenditure ⁴	482	436	513	390	256

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