Group Financial Summary
|% Total Change||% Total Change||% LFL Change|
|2012/13(1)||2011/12||Reported||Constant currency 52 week basis||Constant currency|
|Adjusted pre-tax profit(4)||£715m||£807m||(11.4)%|
|Adjusted basic EPS(4)||22.3p||25.1p||(11.2)%|
|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