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Tesco PLC Annual Report and
Financial Statements 2008
60 www.tesco.com/annualreport08
Note 7 Discontinued operation and assets classified as held for sale
Discontinued operation
On 31 May 2006, the Group sold its business operation in Taiwan to Carrefour as part of a transaction to acquire Carrefour’s Czech business.
The net result of the Taiwanese business has been presented as a discontinued operation in the Group Income Statement for the prior year.
The table below shows the results of the Taiwan business that are included in results of the Group for the prior period and included within
discontinued operation.
Income Statement
2008 2007
£m £m
Revenue –46
Cost of sales –(36)
Administrative expenses –(14)
Operating loss before tax of discontinued operation –(4)
Profit on disposal of discontinued operation –22
Profit for the year from discontinued operation –18
The table below shows the amounts relating to the discontinued operation that are included within the Group cash flows for the prior year.
Cash Flow Statement
2008 2007
£m £m
Net cash flows from operating activities –(7)
Net cash flows from investing activities –(2)
Net cash flows from financing activities –11
–2
Notes to the Group financial statements continued