Vodafone 2006 Annual Report Download - page 130

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128 Vodafone Group Plc Annual Report 2006
Notes to the Consolidated Financial Statements
continued
40. Transition to IFRS on first-time adoption continued
Reconciliation of the UK GAAP consolidated profit and loss account to the IFRS consolidated income statement
Year ended 31 March 2005 Measurement
Presentation and recognition Discontinued
UK GAAP differences differences operations IFRS
UK GAAP format £m £m £m £m £m IFRS format
Turnover 34,133 – (60) (7,395) 26,678 Revenue
Cost of sales (20,753) – (711) 5,664 (15,800) Cost of sales
Gross profit 13,380 – (771) (1,731) 10,878 Gross profit
Selling and distribution costs (2,031) – (15) 397 (1,649) Selling and distribution expenses
Administrative expenses (16,653) 315 12,812 670 (2,856) Administrative expenses
404 1,576 – 1,980 Share of result in associated
undertakings
(315) (160) – (475) Other income and expense
Operating loss (5,304) 404 13,442 (664) 7,878 Operating profit
Share of result in associated undertakings 1,193 (1,193)
Exceptional non-operating items 13 (13)
8 (2) (13) (7) Non-operating income and expense
324 (21) (9) 294 Investment income
Net interest payable and similar items (604) (113) (183) 20 (880) Financing costs
Loss on ordinary activities before taxation (4,702) (583) 13,236 (666) 7,285 Profit before taxation
Tax on loss on ordinary activities (2,236) 538 265 (436) (1,869) Tax on profit
Loss on ordinary activities after taxation (6,938) (45) 13,501 (1,102) 5,416 Profit on ordinary activities after
taxation from continuing operations
– – – 1,102 1,102 Profit on ordinary activites after
taxation from discontinued
operations
(6,938) (45) 13,501 – 6,518 Profit for the financial year
Minority interest (602) 45 449 – (108) Profit for the financial year
attributable to minority interests
Loss for the financial year (7,540) – 13,950 – 6,410 Profit for the financial year
attributable to equity shareholders