Tesco 2001 Annual Report Download - page 20

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18 TESCO PLC
2001 2000
note £m £m
Sales at net selling prices 122,773 20,358
Value added tax (1,785) (1,562)
Turnover excluding value added tax 1/2 20,988 18,796
Operating expenses
– Normal operating expenses (19,770) (17,712)
– Employee profit-sharing 3(44) (41)
– Integration costs 2–(6)
– Goodwill amortisation 11 (8) (7)
Operating profit 1/2 1,166 1,030
Share of operating profit of joint ventures 21 11
Net loss on disposal of fixed assets (8) (9)
Profit on ordinary activities before interest and taxation 1,179 1,032
Net interest payable 7(125) (99)
Profit on ordinary activities before taxation 41,054 933
Profit before integration costs, net loss on disposal
of fixed assets and goodwill amortisation 1,070 955
Integration costs – (6)
Net loss on disposal of fixed assets (8) (9)
Goodwill amortisation (8) (7)
Tax on profit on ordinary activities 8(288) (259)
Profit on ordinary activities after taxation 766 674
Minority interests 1–
Profit for the financial year 767 674
Dividends 9(340) (302)
Retained profit for the financial year 24 427 372
Pence Pence
Earnings per share 10 11.29 10.07
Adjusted for integration costs after taxation – 0.06
Adjusted for net loss on disposal of fixed assets after taxation 0.12 0.13
Adjusted for goodwill amortisation 0.12 0.10
Adjusted earnings per share 10 11.53 10.36
Diluted earnings per share 10 11.07 9.89
Adjusted for integration costs after taxation – 0.06
Adjusted for net loss on disposal of fixed assets after taxation 0.12 0.13
Adjusted for goodwill amortisation 0.12 0.10
Adjusted diluted earnings per share 10 11.31 10.18
Dividend per share 94.98 4.48
Dividend cover (times) 2.27 2.27
Accounting policies and notes forming part of these financial statements are on pages 22 to 39.
GROUP PROFIT AND LOSS ACCOUNT
52 weeks ended 24 February 2001