| 2. DIVISIONAL ANALYSIS | Turnover | Trading Profit | Net Assets | |||
| 1999 | 1998 | 1999 | 1998 | 1999 | 1998 | |
| £m | £m | £m | £m | £m | £m | |
| Home Shopping | ||||||
| - United Kingdom & other | 1,787.5 | 1,720.4 | 105.5 | 126.4 | 788.3 | 667.3 |
| - Continental Europe | 373.7 | 356.4 | 29.3 | 29.3 | 247.8 | 227.2 |
| 2,161.2 | 2,076.8 | 134.8 | 155.7 | 1,036.1 | 894.5 | |
| Argos | 1,812.1 | 116.0 | 245.9 | |||
| Experian | 898.5 | 615.3 | 192.2 | 141.9 | 287.5 | 210.1 |
| Finance Division | 235.8 | 227.2 | 112.6 | 116.9 | 1,180.8 | 1,117.0 |
| Burberry | 206.9 | 254.5 | 10.7 | 24.9 | 85.5 | 103.7 |
| Overseas Retailing | 152.1 | 188.9 | 42.7 | 47.9 | 133.1 | 144.8 |
| Property | 31.9 | 41.3 | 249.0 | 262.4 | ||
| 5,466.6 | 3,362.7 | 640.9 | 528.6 | 3,217.9 | 2,732.5 | |
| Goodwill (principally Argos) | (72.6) | 1,503.5 | ||||
| Exceptional items | 9.4 | 68.6 | ||||
| Profit on ordinary activities before interest | 577.7 | 597.2 | ||||
| Net interest (expense)/income | (127.3) | 26.5 | ||||
| Profit before taxation | 450.4 | 623.7 | ||||
| Net (borrowings)/cash (including non-recourse borrowings) | (2,069.8) | 284.9 | ||||
| Loan to BL Universal PLC - Senior debt | 45.0 | |||||
| Dividends and taxation | (242.5) | (286.8) | ||||
| Acquisition consideration due | (537.7) | |||||
| Exceptional VAT balances | 72.6 | |||||
| Net assets | 2,409.1 | 2,310.5 | ||||
| The trading profit for the Property Division represents the Group's share of the trading profit of the joint venture, BL Universal PLC. The net assets of the Property Division comprise the Group's share of the net assets of the joint venture of £110.2m (1998 £92.4m) and loans to the joint venture (other than the Senior debt) of £138.8m (1998 £170.0m). | ||||||
| 3. GEOGRAPHICAL ANALYSIS | Turnover by destination |
Turnover by origin |
Trading Profit | Net Assets | ||||
| 1999 | 1998 | 1999 | 1998 | 1999 | 1998 | 1999 | 1998 | |
| £m | £m | £m | £m | £m | £m | £m | £m | |
| United Kingdom | 3,971.7 | 2,129.5 | 4,119.1 | 2,238.0 | 403.6 | 326.9 | 2,584.7 | 2,158.4 |
| Western Europe | 642.0 | 468.8 | 534.1 | 419.8 | 39.1 | 32.9 | 277.6 | 257.6 |
| North America | 659.2 | 545.7 | 653.6 | 536.3 | 148.6 | 115.9 | 225.2 | 182.8 |
| Rest of World | 193.7 | 218.7 | 159.8 | 168.6 | 49.6 | 52.9 | 130.4 | 133.7 |
| 5,466.6 | 3,362.7 | 5,466.6 | 3,362.7 | 640.9 | 528.6 | 3,217.9 | 2,732.5 | |
| Goodwill | (72.6) | 1,503.5 | ||||||
| Exceptional items | 9.4 | 68.6 | ||||||
| 577.7 | 597.2 | |||||||
| Net interest (expense)/income | (127.3) | 26.5 | ||||||
| Profit before taxation | 450.4 | 623.7 | ||||||
| Net (borrowings)/cash (including non-recourse borrowings) | (2,069.8) | 284.9 | ||||||
| Loan to BL Universal PLC - Senior debt | 45.0 | |||||||
| Dividends and taxation | (242.5) | (286.8) | ||||||
| Acquisition consideration due | (537.7) | |||||||
| Exceptional VAT balances | 72.6 | |||||||
| Net assets | 2,409.1 | 2,310.5 | ||||||