Preliminary results for the year ended 29 January 2011

 

24 March 2011

 

Notes to the consolidated financial statements

4. Exceptional items

£ millions 2010/11 2009/10
Included within selling and distribution expenses    
UK restructuring (9)
  (9)
Included within other income    
Profit on disposal of properties 3 17
  3 17
Exceptional items before tax (6) 17
Tax on exceptional items 3 (7)
Exceptional items (3) 10

The UK restructuring charge of £9m reflects plans announced by the Group to consolidate its distribution network in the UK through the construction of a new regional distribution centre in the south of England and the closure of other sites. The provision covers primarily future costs of redundancies and dilapidations on the sites to be exited.

The Group has recorded an exceptional profit of £3m on the disposal of properties (2009/10: £17m profit).

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