Preliminary results for the year ended 30 January 2010

 

25 March 2010

 

Consolidated income statement

Year ended 30 January 2010

        2009/10     2008/09
£ millions Notes Before
exceptional
items
Exceptional
items
(note 4)
Total Before
exceptional
items
Exceptional
items
(note 4)
Total
Sales 3 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   26 26 22 (36) (14)
Operating profit   606 17 623 446 (273) 173
               
Analysed as:              
Retail profit 3 664 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 5 (57) (57) (83) (83)
               
Profit before taxation   549 17 566 363 (273) 90
Income tax expense 6 (174) (7) (181) (95) 7 (88)
Profit from continuing operations   375 10 385 268 (266) 2
Profit from discontinued operations   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 7            
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.

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