Five year record

 
£ millions 2012/13(1)(2)(4)
53 weeks(3)
2013/14(1)(2)
52 weeks(3)
2014/15(1)(2)(5)
52 weeks
2015/16
Calendar year(6)
2016/17
Calendar year(6)
  1. Adjusted pre-tax profit and adjusted basic earnings per share restated to exclude contribution from Hornbach, following its disposal in 2014/15. There was no contribution from Hornbach in 2014/15.
  2. Sales, retail profit, adjusted pre-tax profit, like-for-like sales growth and adjusted basic earnings per share restated to exclude B&Q China operating results, following the disposal of a 70% controlling stake in 2015/16.
  3. Like-for-like sales growth in 2012/13 was calculated by comparing 53 weeks against the equivalent 53 weeks of the prior year. Like-for-like sales growth in 2013/14 is calculated by comparing 52 weeks against the equivalent 52 weeks of the prior year. This only impacts the UK & Ireland businesses with all of the other businesses reporting on a calendar basis. The effect of the 53rd week on the results of the Group in 2012/13 was the inclusion of an additional £72m sales and an immaterial benefit to retail profit.
  4. 2012/13 restated for IAS 19 (revised), ‘Employee benefits’, resulting in the reclassification of £3m of pension administration costs from net finance costs to retail profit.
  5. 2014/15 restated for IFRIC 21, ‘Levies’, resulting in a restatement of balance sheet payables, deferred tax and equity shareholders’ funds.
  6. In 2015/16 the Group moved its year end to 31 January (previously the nearest Saturday to 31 January) resulting in a calendar year ended 31 January 2016. This only impacts the UK & Ireland businesses with all other businesses already reporting on a calendar basis. This change had no material impact on the Group’s results.
  7. Other net current (liabilities)/assets and other net non-current liabilities reported above exclude any components of net cash.
  8. Excluding business acquisitions.
  9. Excluding joint ventures and associates.
Income statement          
Sales 10,573 11,125 10,966 10,441 11,225
B&Q China sales (374) (421) (361) (110)
Adjusted sales 10,199 10,704 10,605 10,331 11,225
Retail profit 761 785 742 746 847
Central costs (42) (42) (40) (45) (48)
Share of interest and tax of joint ventures and associates (6) (5) (6) (5) (5)
Net finance costs before financing fair value
remeasurements and exceptional items
(3) (2) (12) (10) (7)
Underlying pre-tax profit 710 736 684 686 787
Transformation costs (before exceptional items) - (44)
Adjusted pre-tax profit 710 736 684 686 743
B&Q China operating loss (9) (6) (9) (4)
Share of Hornbach post-tax results 14 14
Exceptional items (before tax) (26) 17 (35) (166) 17
Financing fair value remeasurements 2 (2) 4 (4) (1)
Profit before taxation 691 759 644 512 759
Income tax expense (including exceptional items) (127) (49) (71) (100) (149)
Profit for the year 564 710 573 412 610
           
Balance sheet          
Goodwill and other intangible assets 2,565 2,639 2,672 2,673 2,707
Property, plant and equipment and investment property 3,814 3,675 3,233 3,237 3,613
Investments in joint ventures and associates 289 32 28 23 23
Investment in B&Q China 62
Assets and liabilities held for sale 208 79 6
Other net current (liabilities)/assets(7) (128) (19) 182 55 51
Post-employment benefits (100) 112 159 131
Other net non-current liabilities(7) (422) (356) (405) (575) (395)
Capital employed 6,118 6,079 5,901 5,640 6,130
Equity shareholders’ funds 6,148 6,308 6,220 6,186 6,771
Non-controlling interests 8 9 10
Net cash (38) (238) (329) (546) (641)
Capital employed 6,118 6,079 5,901 5,640 6,130
           
Other financial data          
Like-for-like sales growth (3.0%) 0.3% 0.9% 2.3% 2.3%
Effective tax rate 27% 26% 27% 26% 26%
Basic earnings per share (pence) 24.1 30.0 24.3 17.8 27.1
Adjusted basic earnings per share (pence) 22.1 23.0 21.3 22.0 24.4
Underlying basic earnings per share (pence) 22.1 23.0 21.3 22.0 25.9
Ordinary dividend per share (pence) 9.46 9.9 10.0 10.1 10.4
Gross capital expenditure(8) 316 304 275 333 406
Number of stores(9) 988 1,079 1,153 1,156 1,194