 |
| Consolidated profit and loss account(1) |
|
|
|
|
|
|
| £million |
2001/02 |
2000/01 |
1999/00 |
1998/99 |
1997/98 |
|
| Turnover |
4,888.2 |
4,688.2 |
3,889.9 |
3,156.3 |
2,791.9 |
| percentage change |
4.3% |
20.5% |
23.2% |
13.1% |
14.1% |
|
| Underlying operating profit(2) |
284.8 |
282.0 |
242.2 |
210.5 |
197.1 |
| Net interest |
12.4 |
(4.2) |
21.5 |
28.1 |
20.5 |
|
| Underlying profit before taxation(2) |
297.2 |
277.8 |
263.7 |
238.6 |
217.6 |
| percentage change |
7.0% |
5.3% |
10.5% |
9.7% |
14.4% |
| Discontinued operations – Freeserve |
– |
(48.2) |
(22.9) |
(1.5) |
– |
| Exceptional items(3) |
(14.9) |
417.5 |
231.3 |
(5.8) |
(4.3) |
|
| Profit before taxation |
282.3 |
647.1 |
472.1 |
231.3 |
213.3 |
| Taxation |
(65.1) |
(49.6) |
(55.9) |
(48.9) |
(50.0) |
| Minority interest |
(6.0) |
(2.5) |
(4.3) |
(3.0) |
(1.2) |
|
| Profit for the period |
211.2 |
595.0 |
411.9 |
179.4 |
162.1 |
 |
| Dividends |
(117.3) |
(105.9) |
(126.5) |
(75.2) |
(63.7) |
|
| Retained profit for the period |
93.9 |
489.1 |
285.4 |
104.2 |
98.4 |
|
| |
|
|
|
|
|
| Diluted earnings per ordinary share (pence)(4) |
10.8p |
30.6p |
21.0p |
9.2p |
8.4p |
| |
|
|
|
|
|
| Adjusted diluted earnings per ordinary share (pence)(4) |
11.6p |
10.3p |
10.0p |
9.4p |
8.4p |
| percentage change |
12.6% |
3.0% |
6.4% |
11.9% |
15.1% |
|
| |
|
|
|
|
|
| Dividends per ordinary share (pence)(4) |
6.050p |
5.500p |
4.600p |
3.825p |
3.175p |
| percentage change |
10.0% |
19.6% |
20.3% |
20.5% |
21.0% |
| Special dividend |
– |
– |
1.88p |
– |
– |
|
| |
|
|
|
|
|
| Segmental information – continuing operations
(5) |
|
|
|
|
|
|
| Turnover |
|
|
|
|
|
| UK Retail(6) |
4,121.8 |
3,979.4 |
3,563.7 |
3,057.9 |
2,668.1 |
| International Retail |
688.4 |
601.6 |
244.4 |
31.6 |
21.0 |
| European Property |
78.0 |
62.4 |
63.8 |
64.1 |
102.8 |
|
| |
4,888.2 |
4,643.4 |
3,871.9 |
3,153.6 |
2,791.9 |
|
| Underlying operating profit (2) |
|
|
|
|
|
| UK Retail(6) |
253.6 |
244.8 |
221.7 |
202.2 |
193.9 |
| International Retail |
11.4 |
22.3 |
10.4 |
0.3 |
(1.2) |
| European Property |
16.0 |
14.9 |
10.1 |
8.0 |
4.4 |
|
| |
281.0 |
282.0 |
242.2 |
210.5 |
197.1 |
| Associated undertakings |
3.8 |
– |
– |
– |
– |
|
| |
284.8 |
282.0 |
242.2 |
210.5 |
197.1 |
|
| Consolidated balance sheet(1) |
|
|
|
|
|
|
| £million |
2002 |
2001 |
2000 |
1999 |
1998 |
|
| Fixed assets |
|
|
|
|
|
| Intangible assets |
484.2 |
432.7 |
443.3 |
– |
– |
| Tangible assets |
607.0 |
535.0 |
501.0 |
363.8 |
326.7 |
| Investments |
479.0 |
625.7 |
85.8 |
1.9 |
1.4 |
|
| |
1,570.2 |
1,593.4 |
1,030.1 |
365.7 |
328.1 |
| Current assets |
|
|
|
|
|
| Stocks |
650.0 |
580.7 |
512.5 |
427.3 |
434.5 |
| Debtors |
422.8 |
383.9 |
358.3 |
288.0 |
275.4 |
| Short term investments |
813.9 |
793.0 |
788.8 |
746.3 |
615.9 |
| Cash at bank and in hand |
38.6 |
64.4 |
103.9 |
11.0 |
38.4 |
|
| |
1,925.3 |
1,822.0 |
1,763.5 |
1,472.6 |
1,364.2 |
| Creditors – falling due within one year |
|
|
|
|
|
| Borrowings |
(193.8) |
(195.8) |
(68.8) |
(42.9) |
(37.8) |
| Other creditors |
(1,061.3) |
(929.7) |
(878.4) |
(620.1) |
(616.9) |
|
| |
(1,255.1) |
(1,125.5) |
(947.2) |
(663.0) |
(654.7) |
|
|
|
|
|
|
| Net current assets |
670.2 |
696.5 |
816.3 |
809.6 |
709.5 |
|
|
|
|
|
|
|
| Total assets less current liabilities |
2,240.4 |
2,289.9 |
1,846.4 |
1,175.3 |
1,037.6 |
|
|
|
|
|
|
| Creditors – falling due after more than one
year |
|
|
|
|
|
| Borrowings |
(303.0) |
(462.1) |
(556.9) |
(202.5) |
(218.1) |
| Other creditors |
(239.8) |
(264.9) |
(233.8) |
(173.7) |
(150.6) |
|
| |
(542.8) |
(727.0) |
(790.7) |
(376.2) |
(368.7) |
| Provisions for liabilities and charges |
(80.9) |
(87.7) |
(77.6) |
(73.7) |
(59.6) |
|
| |
1,616.7 |
1,475.2 |
978.1 |
725.4 |
609.3 |
|
|
|
|
|
|
|
| Equity shareholders’ funds |
1,581.1 |
1,446.3 |
935.9 |
715.6 |
602.5 |
| Equity minority interests |
35.6 |
28.9 |
42.2 |
9.8 |
6.8 |
|
| |
1,616.7 |
1,475.2 |
978.1 |
725.4 |
609.3 |
|
| |
|
|
|
|
|
| Capital expenditure |
189.9 |
180.3 |
210.4 |
113.2 |
119.4 |
|
| |
|
|
|
|
|
| Net funds/(debt) and investments(7) |
55.7 |
(85.1) |
(75.8) |
270.4 |
184.3 |
|
| |
|
|
|
|
|
| Notes:
(1) Where appropriate, prior year comparatives have been restated
to take account of FRS 19 “Deferred tax”.
(2) Underlying figures exclude the effects of exceptional items
and discontinued operations (Freeserve).
(3) Net exceptional items before taxation include both operating
and non-operating exceptional items.
(4) Diluted earnings and dividends per ordinary share have been
restated on the basis that the notional four for one share split
effected on 8 March 2000 was in existence throughout the five year
period. Adjusted diluted earnings per share which exclude exceptional
items and discontinued operations have been shown to disclose the
impact of these items on underlying earnings.
(5) Management and development responsibility for the Internet
Services division, previously reported separately, has been integrated
with the appropriate retail division. Comparative figures have been
restated to reflect this change in responsibility.
(6) Excludes Freeserve.
(7) Net cash and investments excludes funds held under trust in
respect of extended warranty and service contract liabilities, and
funds held by Freeserve.
|
|
|
