Annual Report & Accounts 2008
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- Consolidated Income Statement
Financial year ended 3 February 2008
| Note |
2008 (53 weeks) £m |
2007 (52 weeks) (restated) £m |
|
|---|---|---|---|
| Continuing operations | |||
| Revenue | 1 | 744.7 | 723.3 |
| Cost of sales | (449.2) | (437.8) | |
| Gross profit | 295.5 | 285.5 | |
| Net operating expenses | 2 | (207.5) | (202.4) |
| Operating profit | 1 | 88.0 | 83.1 |
| Finance income (interest receivable) | 3 | 0.9 | 0.6 |
| Finance costs | |||
| – interest payable | (11.7) | (13.6) | |
| – preference dividends | (5.6) | (6.7) | |
| – premium on redemption of preference shares | 15 | (1.3) | (1.4) |
| – gain on purchase of preference shares | 15 | 0.9 | 0.3 |
| Total finance costs | 3 | (17.7) | (21.4) |
| Profit before taxation | 4 | 71.2 | 62.3 |
| Taxation | 5 | (21.4) | (20.0) |
| Profit after taxation from continuing operations | 49.8 | 42.3 | |
| (Loss)/profit after taxation from discontinued operations | 24 | (13.5) | 10.1 |
| Profit attributable to ordinary shareholders | 22 | 36.3 | 52.4 |
| Earnings per share (pence) | 6 | ||
| Basic | 10.0p | 14.4p | |
| Diluted | 9.9p | 14.4p | |
| Earnings per share from continuing operations (pence) | 6 | ||
| Basic | 13.7p | 11.6p | |
| Diluted | 13.6p | 11.6p | |
| Ordinary dividends | 7 | ||
| Interim – proposed | 4.0p | 4.0p | |
| Final – proposed | 5.2p | 5.0p | |
| Paid | 9.0p | 9.0p | |
| Impact on shareholders’ funds ( £m) | 32.7 | 32.6 |
Prior year figures have been restated to reflect the reclassification of the BuckHickman business as a discontinued operation following its disposal on 10 April 2007. Further details are given in note 24.
Consolidated statement of recognised income and expense
Financial year ended 3 February 2008
| Note | 2008 (53 weeks) £m |
2007 (52 weeks) (restated) £m |
|
|---|---|---|---|
| Profit after taxation | 36.3 | 52.4 | |
| Net exchange adjustments net of tax credit of £1.4 million (2007: tax charge of £0.8 million) | 22 | 6.6 | (0.6) |
| Actuarial (losses)/gains on pensions and other post-retirement obligations | 22 | (1.8) | 12.2 |
| Deferred tax credit/(charge) on actuarial (losses)/gains on pensions and other | |||
| post-retirement obligations | 22 | 0.8 | (4.4) |
| Net gains not recognised in the income statement | 5.6 | 7.2 | |
| Total recognised income for the financial year attributable to ordinary shareholders | 41.9 | 59.6 | |
| The accounting policies and notes are an integral part of these consolidated financial statements. | |||