Marks and Spencer 2006 Annual Report Download - page 102

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Marks and Spencer Group plc
Group financial record
The figures for 2006 and 2005 are prepared under IFRS. The figures for 2004, 2003 and 2002 are UK GAAP figures presented
in the same format as the 2005 and 2006 figures. The principal differences between UK GAAP and IFRS are described in
notes 33 and 34 to the financial statements which provides an explanation of the transition to IFRS.
Comparatives for 2002 were not restated following the adoption of FRS17 – ‘Retirement Benefits’, Application Note G of FRS 5 –
‘Revenue Recognition’ and UITF 38 – ‘Accounting for ESOP Trusts’ in 2004.
IFRS IFRS UK GAAP UK GAAP UK GAAP
2006 2005 2004 2003 2002
52 weeks 52 weeks 53 weeks 52 weeks 52 weeks
£m £m £m £m £m
Income statement
Revenue (excluding sales taxes) 7,797.7 7,490.5 7,728.1 7,399.0 6,939.9
Operating profit
United Kingdom 784.5 528.0 738.6 601.5 550.4
Overseas 65.6 70.1 45.0 34.9 16.9
Excess interest charged to cost of sales of financial services –– – – 6.4
Total operating profit 850.1 598.1 783.6 636.4 573.7
Analysed as
Before exceptional operating charges 850.1 648.7 825.7 680.3 523.5
Exceptional operating charges –(50.6) (42.1) (43.9) 50.0
Net interest (payable)/receivable (121.9) (104.4) (45.7) (40.6) 16.8
Other finance income/(charge) 17.5 11.4 (15.2) 27.0 –
Profit before taxation 745.7 505.1 722.7 622.8 590.5
Taxation on ordinary activities (225.1) (150.1) (225.1) (182.1) (158.2)
Minority interests –– – 0.4 (0.4)
Profit after taxation and minority interests 520.6 355.0 497.6 441.1 431.9
Profit from discontinued operations 2.5 231.2 54.7 66.2 (278.9)
Profit attributable to shareholders 523.1 586.2 552.3 507.3 153.0
100 www.marksandspencer.com/groupfinancialrecord2006