Interim results for the 26 weeks ended 30 July 2011

 

15 September 2011

 

Consolidated income statement (UNAUDITED)

£ millions Notes Half year ended 31 July 2011   Half year ended 31 July 2010
Before
exceptional
items
Exceptional
items
(note 5)
Total   Before
exceptional
items
Exceptional
items
(note 5)
Total
Sales 4 5,662 5,662   5,454 5,454
Cost of sales   (3,559) (3,559)   (3,455) (3,455)
Gross profit 2,103 2,103 1,999 1,999
Selling and distribution expenses   (1,407) (1,407)   (1,390) (9) (1,399)
Administrative expenses   (282) (282)   (260) (260)
Other income   16 16   14 2 16
Share of post-tax results of joint ventures and associates   13 13   11 11
Operating profit 443 443 374 (7) 367
                 
Analysed as:              
Retail profit 4 473 473   402 (7) 395
Central costs   (21) (21)   (20) (20)
Share of interest and tax of joint ventures and associates (9) (9) (8) (8)
                 
Finance costs (12) (12) (22) (22)
Finance income   7 7   6 6
Net finance costs 6 (5) (5)   (16) (16)
Profit before taxation   438 438   358 (7) 351
Income tax expense 7 (118) (118)   (107) 4 (103)
Profit for the period   320 320   251 (3) 248
                 
Attributable to:                
Equity shareholders of the Company       321       250
Non-controlling interests       (1)       (2)
        (320)       248
                 
Earnings per share 8              
Basic       13.7p       10.6p
Diluted       13.5p       10.5p
Adjusted basic     13.5p   10.6p
Adjusted diluted       13.2p       10.5p

The proposed interim dividend for the period ended 30 July 2011 is 2.47p per share.

£ millions Notes Year ended 29 January 2011
Before
exceptional
items
Exceptional
items
(note 5)
Total
Sales 4 10,450 10,450
Cost of sales   (6,545) (6,545)
Gross profit 3,905 3,905
Selling and distribution expenses   (2,739) (9) (2,748)
Administrative expenses   (527) (527)
Other income   34 3 37
Share of post-tax results of joint ventures and associates   31 31
Operating profit 704 (6) 698
         
Analysed as:        
Retail profit 4 762 (6) 756
Central costs   (41) (41)
Share of interest and tax of joint ventures and associates   (17) (17)
         
Finance costs (46) (46)
Finance income   19 19
Net finance costs 6 (27) (27)
Profit before taxation 677 (6) 671
Income tax expense 7 (183) 3 (180)
Profit for the year   494 (3) 491
         
Attributable to:      
Equity shareholders of the Company       494
Non-controlling interests       (3)
    491
         
Earnings per share 8      
Basic       21.0p
Diluted     20.7p
Adjusted basic       20.5p
Adjusted diluted       20.2p