Carphone Warehouse 2003 Annual Report Download - page 29

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2 Segmental analysis
Divisional results are analysed as follows:
2003 2002
Profit Profit (loss)
Turnover before tax Net assets Turnover before tax Net assets
£’000 £’000 £’000 £’000 £’000 £’000
Distribution 876,144 44,031 441,108 742,372 39,024 379,152
Wholesale 806,624 4,096 – 343,003 3,495 –
Telecoms Services 158,757 9,886 18,435 67,342 3,950 28,875
1,841,525 58,013 459,543 1,152,717 46,469 408,027
Amortisation (20,585) (14,736)
Operating exceptional items – (24,863)
37,428 6,870
Non-operating exceptional items (1,946) (30,227)
Net interest (payable) receivable (995) 342
Profit (loss) before tax 34,487 (23,015)
Divisional results for the period ended 30 March 2002 have been re-analysed to reflect the inclusion of the Group’s ongoing revenue within
Distribution and the allocation of common costs and depreciation to each division.
Results by geographical location are analysed by origin as follows:
2003 2002
Profit Profit (loss)
Turnover before tax Net assets Turnover before tax Net assets
£’000 £’000 £’000 £’000 £’000 £’000
United Kingdom 1,368,244 40,537 371,668 777,872 35,372 329,639
Rest of Europe 473,281 17,476 87,875 374,845 11,097 78,388
1,841,525 58,013 459,543 1,152,717 46,469 408,027
Amortisation (20,585) (14,736)
Operating exceptional items – (24,863)
37,428 6,870
Non-operating exceptional items (1,946) (30,227)
Net interest (payable) receivable (995) 342
Profit (loss) before tax 34,487 (23,015)
Geographical results for the period ended 30 March 2002 have been re-analysed to reflect the allocation of common costs and depreciation
to each geographical segment.
Tur nover originating in the United Kingdom includes £591.1m (2002 – £22.2m) of sales to the Rest of Europe; otherwise there is not a material
difference between turnover by destination and turnover by origin.
Acquisitions during the period generated the following turnover and profit before tax by segment:
Turnover Profit before tax Net liabilities
£’000 £’000 £’000
Telecoms Services 75,875 3,540 (8,915)
United Kingdom 75,875 3,540 (8,915)
Details of acquisitions are given in note 14.
3 Analysis of profit and loss account
2003 2002
Existing
operations Acquisitions Total Total
£’000 £’000 £’000 £’000
Cost of sales (1,396,543) (56,975) (1,453,518) (834,413)
Gross profit 369,107 18,900 388,007 318,304
Depreciation (29,557) (2,420) (31,977) (26,335)
Amortisation (18,509) (2,076) (20,585) (14,736)
Exceptional operating expenses – – – (24,863)
Other operating expenses (287,436) (10,581) (298,017) (245,500)
Total operating expenses (335,502) (15,077) (350,579) (311,434)
Operating profit 33,605 3,823 37,428 6,870
Total operating expenses for statutory purposes are analysed as follows:
2003 2002
Existing
operations Acquisitions Total Total
£’000 £’000 £’000 £’000
Distribution costs (255,997) (13,910) (269,907) (216,389)
Administrative expenses (79,505) (1,167) (80,672) (70,182)
Exceptional operating expenses – – – (24,863)
Total operating expenses (335,502) (15,077) (350,579) (311,434)
27
The Carphone Warehouse Group PLC Annual Report 2003