Marks and Spencer 1999 Annual Report Download - page 29

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27
MARKS AN D SPEN CER p.l.c.
5.Taxation on ordinary activities
2000 1999
£m £m £m £m
The taxation charge comprises:
Current taxation
UK corporation tax at • % (last year 31%):
Current year 169.2
Prior years (3.5)
165.7
D ouble taxation relief –
165.7
O verseas taxation 2.8
168.5
D eferred taxation (see note 21)
Current year 9.1
Prior years (1.5)
7.6
176.1
6. Profit for the financial year
As permitted by Section 230 of the Companies Act 1985, the profit and loss account of the Company is not presented as part of these financial statements.
The consolidated profit for the financial year of £• m (last year £372.1m) includes £• m (last year £371.6m) which is dealt with in the financial statements
of the Company.
7. D ividends
2000 1999
£m £m
O rdinary shares
Interim paid of • p per share (last year 3.7p) 106.1
Proposed final of • p per share (last year 10.7p) 307.2
413.3
8. Earnings per share
The calculation of earnings per ordinary share is based on earnings after tax and minority interests of £• m (last year £372.1m), and on • ordinary shares
(last year 2,864,724,900), being the weighted average number of ordinary shares in issue during the year ended 31 March 2000.
The weighted average number of ordinary shares used in the calculation of fully diluted earnings per ordinary share is • ordinary shares (last year
2,883,306,200).This has been adjusted for the effect of potentially dilutive share options under the Group’s share option schemes.
An adjusted earnings per share figure has been calculated in addition to the earnings per share required by FRS14,‘Earnings per Share’ and is based on
earnings excluding the effect of the exceptional operating charges/income. It has been calculated to allow the shareholders to gain a clearer understanding
of the trading performance of the Group. D etails of the adjusted earnings per share are set out below:
1999
2000 As restated
Basic Diluted Basic D iluted
pppp
Basic earnings per share 13.0 12.9
Exceptional restructuring costs 0.6 0.6
Exceptional fixed asset provision 2.2 2.2
Exceptional operating income ––
Adjusted earnings per share 15.8 15.7
N OTES TO THE FIN AN CIAL STATEMEN TS
ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999