Marks and Spencer 1999 Annual Report Download - page 46

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ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999
44
2000 1999 1998 1997 1996
£m £m £m £m £m
52 weeks 52 weeks 52 weeks 52 weeks 52 weeks
PROFIT AND LOSS ACCOUNT(1)(2)
Tur no ver :
General 4,765.1 4,811.4 4,601.7 4,181.4
Foods 3,110.3 3,157.1 3,024.1 2,871.3
Financial Services 348.6 274.8 216.1 181.0
Total turnover (excluding sales taxes) 8,224.0 8,243.3 7,841.9 7,233.7
Retailing – continuing 7,875.4 7,968.5 7,625.8 7,030.3
– discontinued –– – 22.4
Financial Services 348.6 274.8 216.1 181.0
Operating profit
United Kingdom 565.1 1,014.1 931.3 852.4
Europe (excluding UK)(4) (90.9) 31.8 37.0 31.7
Americas(3) 15.8 16.8 21.0 13.9
Far East (3.5) 18.3 32.7 26.0
Excess interest charged to cost of sales of
Financial Services 25.5 22.7 – –
Total operating profit 512.0 1,103.7 1,022.0 924.0
Analysed as:
Before exceptional operating (charges)/income 600.5 1,050.5 1,022.0 924.0
Exceptional operating (charges)/income (88.5) 53.2 – –
Retailing – continuing 375.8 991.6 946.3 867.2
– discontinued –– – (2.2)
Financial Services 110.7 89.4 75.7 59.0
Excess interest charged to cost of sales of
Financial Services 25.5 22.7 – –
Loss on disposal of discontinued operations –– – (25.0)
Profit/(loss) on disposal of property and other fixed assets 6.2 (2.8) (1.8) (4.2)
N et interest income 27.9 54.1 65.9 57.6
Profit before taxation 546.1 1,155.0 1,086.1 952.4
Taxation on ordinary activities (176.1) (338.7) (346.1) (312.0)
Minority interests 2.1 (0.4) (1.3) (1.2)
Profit attributable to shareholders 372.1 815.9 738.7 639.2
D ividends (413.3) (409.1) (368.6) (320.9)
(Loss)/profit for the year (41.2) 406.8 370.1 318.3
BALANCE SHEET(1)
Tangible fixed assets 4,387.5 3,964.8 3,412.0 3,246.4
Fixed asset investments 61.2 69.7 36.6 46.0
Current assets 3,355.9 3,401.5 3,203.0 2,874.3
Total assets 7,804.6 7,436.0 6,651.6 6,166.7
Creditors due within one year (2,029.8) (2,345.0) (1,775.1) (1,674.9)
Total assets less current liabilities 5,774.8 5,091.0 4,876.5 4,491.8
Creditors due after more than one year (772.6) (187.2) (495.8) (497.8)
Provisions for liabilities and charges (54.4) (31.0) (31.8) (35.0)
D eferred taxation (50.6) –––
Net assets 4,897.2 4,872.8 4,348.9 3,959.0
(1) Restated for 1998 and prior years for the change in accounting policy relating to the depreciation of fit out.
(2) Restated for 1997 and prior years to include turnover and operating profit by destination, the results of the Captive insurance company
within turnover and cost of sales and the results of the Treasury company within net interest income.
(3) Inclusive of discontinued operations.
(4) 1999 reflects £64m provision for impairment of fixed assets.
GRO UP FIN AN CIAL RECO RD
FO R THE YEAR EN D ED 31 MARCH
The paper used for this report is produced from fully sustainable forests.
D esigned and produced by H olmes & Marchant Corporate Design. Printed in England by Burrups Ltd,St Ives plc.