Carphone Warehouse 2001 Annual Report Download - page 53

Download and view the complete annual report

Please find page 53 of the 2001 Carphone Warehouse annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

2001 2000 1999 1998
£m £m £m £m
Results
Turnover 1,110.7 697.7 316.1 180.2
EBITDA 66.0 41.4 26.1 16.0
PBT* 49.6 30.6 19.8 13.9
Profit for the financial period 38.2 16.3 12.8 9.5
Assets employed
Fixed assets 396.1 101.7 34.6 18.9
Net current assets (liabilities) 93.2 (2.7) 28.3 10.3
Creditors: Amounts falling due after more than one year (14.1) (21.0) (14.0) (6.2)
Provisions for liabilities and charges (36.8) (34.6) (21.2) (7.4)
Net assets 438.4 43.4 27.7 15.6
Financed by
Shareholders’ funds 436.7 44.2 28.4 15.5
Minority interests 1.7 (0.8) (0.7) 0.1
438.4 43.4 27.7 15.6
Key statistics
Basic earnings per share 5.0p2.7p2.1p1.6p
Diluted earnings per share 4.9p2.6p2.1p1.6p
EPS† 5.4p3.8p2.1p1.6p
*PBT is defined as Profit before exceptional items and amortisation
†EPS is defined as Profit before exceptional items and amortisation, expressed on a per share basis.
Defined contribution schemes
The Group also operates a number of defined contribution schemes for which the pension cost for the period amounted to £1,328,000
(2000 – £681,000).
Other schemes
The Group provides pension arrangements to a minority of full time employees through a self-administered scheme and the related costs
are assessed in accordance with the advice of professionally qualified actuaries.
There were employer contributions to the scheme in the period of £117,000 (2000 – £114,000).
28 Related party transactions
D P J Ross
On 24 May 2000, the Group acquired the holding of D P J Ross in Phone House Holdings (UK) Limited, in consideration for 81.9m ordinary
shares in the Company.
G Roux De Bezieux
On 26 June 2000 the Group entered into an arrangement with G Roux De Bezieux to acquire his interest in The Phone House SA (France)
in exchange for 28.5m ordinary shares in the Company, on Admission of the Group to the London Stock Exchange on 14 July 2001.
Clareville Capital
During the period ended 31 March 2001 the Group realised funds on an arm’s length basis of £5.3m from an equity fund managed by
Clareville Capital Limited, a company in which at that time C W Dunstone and D P J Ross had an interest. This interest was sold prior to
31 March 2001.
29 Post-balance sheet events
As detailed in note 6b, the Group is in the process of restructuring its involvement in certain non-key markets. Whilst provision has been
made for the anticipated loss on disposal of certain fixed assets, the Directors expect additional exceptional restructuring costs of £3m to
arise in the period ended 30 March 2002.
The Carphone Warehouse Group PLC Annual Report 2001 51
Four year record (unaudited)