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42 The Carphone Warehouse Group PLC Annual Report 2009
Consolidated Income Statement
For the year ended 31 March 2009
Restated**
Before After Before Restated**
amortisation Amortisation amortisation amortisation Amortisation Restated**
of acquisition of acquisition of acquisition of acquisition of acquisition After
intangibles and intangibles and intangibles and intangibles intangibles and amortisation
exceptional exceptional exceptional and exceptional exceptional of acquisition
items items* items items items* intangibles
2009 2009 2009 2008 2008 2008
Notes £m £m £m £m £m £m
Continuing operations
Revenue 2 1,385 – 1,385 1,424 – 1,424
Cost of sales (658) – (658) (792) – (792)
Gross profit 727 – 727 632 – 632
Operating expenses
excluding amortisation
and depreciation 3,4 (556) (31) (587) (530) (15) (545)
EBITDA 2 171 (31) 140 102 (15) 87
Depreciation 2,3 (41) – (41) (34) – (34)
Amortisation 2,3 (16) (71) (87) (13) (75) (88)
Share of results of joint ventures
and associates 2,4,16 23 (18) 5 (6) – (6)
Profit (loss) before interest
and taxation 3 137 (120) 17 49 (90) (41)
Interest expense 4,8 (30) (85) (115) (51) – (51)
Interest income 8 26 – 26 6 – 6
Profit (loss) before taxation 133 (205) (72) 4 (90) (86)
Taxation 4,9 (19) 50 31 (5) 27 22
Net profit (loss) for the year
from continuing operations 114 (155) (41) (1) (63) (64)
Net (loss) prot for the year
from discontinued operations 2,4 (2) 593 591 138 (1) 137
Net profit for the year 112 438 550 137 (64) 73
Earnings per share
Basic
Continuing operations 12 12.8p (4.6)p (0.1)p (7.1)p
Discontinued operations 12 (0.2)p 66.2p 15.3p 15.2p
Total 12 12.6p 61.6p 15.2p 8.1p
Diluted
Continuing operations 12 12.5p (4.5)p (0.1)p (6.8)p
Discontinued operations 12 (0.2)p 64.8p 14.7p 14.6p
Total 12 12.3p 60.3p 14.6p 7.8p
* A reconciliation of Headline information to statutory information is provided in note 11 to the nancial statements.
** Prior year information has been restated to reclassify the results of discontinued operations (see note 5) and to reect a change in the Group’s
accounting policy for subscriber acquisition costs (see note 1c). A reconciliation of restated results to the nancial statements previously
published is provided in note 33.