Experian 2007 Annual Report Download - page 87

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10. Discontinued operations
The results for discontinued operations were as follows:
2007 2006
US$m US$m
Revenue:
Home Retail Group (including Wehkamp) 5,468 10,206
Burberry 844
Lewis Group 36
Total revenue 5,468 11,086
Operating profit:
Home Retail Group (including Wehkamp) 212 619
Burberry 168
Lewis Group 9
Total operating profit 212 796
Net financing income 16 33
Profit before tax of discontinued operations 228 829
Tax charge (74) (262)
Profit after tax of discontinued operations 154 567
Gains/(losses) on disposal of discontinued operations:
Profit on disposal of Lewis Group 64
Loss on disposal of Wehkamp (34)
Profit on disposal of shares in Burberry 18
Costs incurred relating to the demerger of Burberry (9)
Gains on disposals 39
Tax charge in respect of disposals (17)
(Loss)/profit after tax on disposals (17) 39
Profit for the financial year from discontinued operations 137 606
In May 2005, the Group announced the sale of its remaining 50% interest in Lewis Group Limited and in December 2005 divested its remaining
65% interest in BurberryGroup plc. In January2006, the Group sold Wehkamp, the leading home shopping brand in the Netherlands. These
operations wereclassified as discontinued in the financial statements of GUS plc for the year ended 31 March 2006. In October 2006, the net assets
of Home Retail Group were distributed by way of a dividend in specie. As a result, these operations have been reclassified as discontinued.
The tax charge in respect of disposals related to taxation assets no longer recoverable following earlier disposals.
Experian Annual Report2007 |85