Carphone Warehouse 2004 Annual Report Download - page 33

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The Carphone Warehouse Group PLC Annual Report 2004
31
2 Segmental analysis
Divisional results are analysed as follows:
2004 2003
Profit Profit Restated
Turnover before tax Net assets Turnover before tax Net assets
£’000 £’000 £’000 £’000 £’000 £’000
Distribution 1,128,939 66,939 440,521 876,144 44,031 437,159
Telecoms Services 554,491 15,021 31,322 158,757 9,886 18,435
Wholesale 178,067 (813) – 806,624 4,096 –
Eliminations (12,486) –––––
1,849,011 81,147 471,843 1,841,525 58,013 455,594
Amortisation of goodwill (25,417) (20,585)
Operating exceptional items (4,733) –
50,997 37,428
Non-operating exceptional items (1,652) (1,946)
Net interest payable (4,858) (995)
Profit before tax 44,487 34,487
Results by geographical location are analysed by origin as follows:
2004 2003
Profit Profit Restated
Turnover before tax Net assets Turnover before tax Net assets
£’000 £’000 £’000 £’000 £’000 £’000
United Kingdom 1,102,185 49,836 177,144 1,368,244 40,537 367,719
Rest of Europe 746,826 31,311 294,699 473,281 17,476 87,875
1,849,011 81,147 471,843 1,841,525 58,013 455,594
Amortisation of goodwill (25,417) (20,585)
Operating exceptional items (4,733) –
50,997 37,428
Non-operating exceptional items (1,652) (1,946)
Net interest payable (4,858) (995)
Profit before tax 44,487 34,487
Tur nover originating in the United Kingdom includes £25.3m (2003 – £591.1m) of sales to the Rest of Europe; otherwise there is not a material
difference between turnover by destination and turnover by origin.
The information above includes the following amounts in respect of acquisitions during the period:
Profit Net assets
Turnover before tax (liabilities)
£’000 £’000 £’000
Distribution 5,062 145 (16)
Telecoms Services 211,100 7,308 24,480
216,162 7,453 24,464
United Kingdom 5,062 145 (16)
Rest of Europe 211,100 7,308 24,480
216,162 7,453 24,464
Details of acquisitions are given in note 15.
3Analysis of profit and loss account
2004 2003
Existing
operations Acquisitions Total Total
£’000 £’000 £’000 £’000
Cost of sales (1,129,965) (173,281) (1,303,246) (1,453,518)
Gross profit 502,884 42,881 545,765 388,007
Depreciation (40,132) (1,552) (41,684) (31,977)
Amortisation of goodwill (24,076) (1,341) (25,417) (20,585)
Exceptional operating expenses (4,733) – (4,733) –
Other operating expenses (391,310) (31,624) (422,934) (298,017)
Total operating expenses (460,251) (34,517) (494,768) (350,579)
Operating profit 42,633 8,364 50,997 37,428
Total operating expenses for statutory purposes are analysed as follows:
2004 2003
Existing
operations Acquisitions Total Total
£’000 £’000 £’000 £’000
Distribution costs (358,706) (28,837) (387,543) (269,907)
Administrative expenses (96,812) (5,680) (102,492) (80,672)
Exceptional operating expenses (4,733) – (4,733) –
Total operating expenses (460,251) (34,517) (494,768) (350,579)