We use cookies to give you the best possible experience on our site.
By continuing to use the site you agree to our use of cookies.

We have a new privacy policy

Accept Cookies

Interim results for the 26 weeks ended 31 July 2010

 

16 September 2010

 

Notes to the condensed consolidated financial statements (UNAUDITED)

for the 26 weeks ended 31 July 2010

4. Segmental analysis

Income statement

Half year ended 31 July 2010
£ millions UK & Ireland France Other International
Poland Other Total
Sales 2,328 2,185 524 417 5,454
Retail profit 171 160 65 6 402
Exceptional items         (7)
Central costs         (20)
Share of interest and tax of joint ventures and associates         (8)
Operating profit         367
Net finance costs         (16)
Profit before taxation         351
Half year ended 1 August 2009
£ millions UK & Ireland France Other International
Poland Other Total
Sales 2,401 2,209 493 399 5,502
Retail profit 148 146 63 (10) 347
Central costs         (20)
Share of interest and tax of joint ventures and associates         (7)
Operating profit         320
Net finance costs         (32)
Profit before taxation         288
Year ended 30 January 2010
£ millions UK & Ireland France Other International
Poland Other Total
Sales 4,442 4,242 1,012 807 10,503
Retail profit 217 322 125 - 664
Exceptional items         17
Central costs         (41)
Share of interest and tax of joint ventures and associates         (17)
Operating profit         623
Net finance costs         (57)
Profit before taxation         566

Balance sheet

At 31 July 2010
£ millions UK & Ireland France Other International
Poland Other Total
Segment assets 1,068 1,108 406 516 3,098
Central liabilities         (401)
Goodwill         2,394
Net cash         19
Net assets         5,110
At 1 August 2009
£ millions UK & Ireland France Other International
Poland Other Total
Segment assets 1,061 1,229 444 512 3,246
Central liabilities         (170)
Goodwill         2,396
Net debt         (740)
Net assets         4,732
At 30 January 2010
£ millions UK & Ireland France Other International
Poland Other Total
Segment assets 997 1,187 463 562 3,209
Central liabilities         (399)
Goodwill         2,395
Net debt         (250)
Net assets         4,955

The 'Other International' segment consists of Poland, China, Spain, Russia, the joint venture Koçtaş in Turkey and the associate Hornbach which has operations in Germany and other European countries. Poland has been shown separately due to its significance.

Central costs principally comprise the costs of the Group's head office. Central liabilities comprise unallocated head office and other central items including pensions, interest and tax balances.

The Group's sales, although not highly seasonal in nature, do increase over the Easter period and during the summer months leading to slightly higher sales usually being recognised in the first half of the year.