Financial overview

Group Financial Summary

			% Total Change	% Total Change	% LFL Change
	2012/13⁽¹⁾	2011/12	Reported	Constant currency 52 week basis	Constant currency
Sales⁽¹⁾⁽²⁾	£10,573m	£10,831m	(2.4)%	+0.5%	(2.9)%
Retail profit⁽³⁾	£781m	£882m	(11.4)%	(7.3)%
Adjusted pre-tax profit⁽⁴⁾	£715m	£807m	(11.4)%
Adjusted basic EPS⁽⁴⁾	22.3p	25.1p	(11.2)%
Interim dividend	3.09p	2.47p	+25.1%
Final dividend	6.37p	6.37p	Flat
Full year dividend	9.46p	8.84p	+7.0%
Net cash/ (financial net debt)	£38m	£(88)m	n/a

In the UK & Ireland Kingfisher reports each financial year up to the nearest Saturday to 31 January. This year this has resulted in a 53 week year. Outside the UK & Ireland, figures are on a calendar month basis.
Joint Venture (Koçtaş JV) and Associate (Hornbach) sales are not consolidated.
Retail profit is operating profit stated before central costs, exceptional items, amortisation of acquisition intangibles and the Group's share of interest and tax of JVs and associates.
Adjusted measures are before exceptional items, financing fair value remeasurements, amortisation of acquisition intangibles, related tax items and tax on prior year items. A reconciliation to statutory amounts is set out in the Financial Review (Section 4).

Results significantly impacted by:
- Weaker consumer confidence resulting in declining LFL markets in our three key territories
- £39 million adverse foreign exchange movements when translating euro and zloty overseas profits into sterling for reporting purposes
- Around £25 million less profit from record wet weather in the UK, significantly impacting footfall and sales of seasonal product (down 9%)
'Creating the Leader' programme well underway, on-going self-help initiatives helped limit the overall profit decline
Strong free cash flow generation, ending the year with £38 million net cash
Positive Economic Profit (KEP) despite the tough year
Full year dividend up 7%, dividend cover reduced to 2.4 times in line with new policy to target dividend cover of around 2.5 times