Marks and Spencer 1998 Annual Report Download - page 57

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1998 1997
£m £m £m £m
The taxation charge comprises:
Current tax ation
UK corporation tax at 31% (last year 33%):
Current year 346.5 328.4
Prior years (6.4) (7.4)
340.1 321.0
Double tax ation relief (18.3) Ð
321.8 321.0
Overseas tax ation 9.5 14.1
331.3 335.1
Deferred tax ation (see note 21)
Current year 6.6 10.7
Prior years 0.8 0.3
7.4 11.0
338.7 346.1
As permitted by Section 230 of the Companies A ct 1985, the profit and loss account of the Company is not presented as par t of these
financial statements.
The consolidated profit for the financial year of £828.9m (last year £754.6m) includes £724.2m (last year £645.9m) which is dealt with
in the financial statements of the Company.
1998 1997
£m £m
Ordinar y shares
Interim paid of 3.6p per share (last year 3.3p) 102.7 93.3
Proposed final of 10.7p per share (last year 9.7p) 306.4 275.3
409.1 368.6
Under the scrip dividend scheme, £30.8m of the 1996/ 97 final dividend and £21.3m of the 1997/ 98 interim dividend were paid by way
of shares, and these amounts have been added back to the profit and loss account reserve (see note 26).
6 PROFIT FOR THE FINANCIAL YEAR
5 TAXATION ON ORDINARY ACTIVITIES
7 DIVIDENDS
NO TES TO TH E FIN AN CIAL STATEM EN TS
MA RKS A ND SPENCER p.l.c. 55