Marks and Spencer 2000 Annual Report Download - page 27

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Notes to the financial statements
1. TRADING PERIOD
The results for the year comprise store sales and related costs for the 53 weeks to 1 April 2000 (last year 52 weeks to 27 March 1999).
All other activities are for the year to 31 March 2000. All results are derived from continuing operations.
2. SEGMENTAL IN FORM ATION
A Classes of business
The Group has two classes of business: Retailing and Financial Services.
Retailing: Turnover represents goods sold to customers outside the Group, less returns and sales taxes.
Financial Services: Turnover represents the interest and other income attributable to the Financial Services companies and the Captive
insurance company and arises wholly within the United Kingdom and the Channel Islands.
TURNOVER OPERATING PROFIT OPERATING ASSETS
2000 1999 2000 1999 2000 1999
£m £m £m £m £m £m
Retailing activities 7,830.9 7,875.4 355.1 375.8 4,494.5 4,518.7
Before exceptional operating charges 427.1 464.3
Exceptional operating charges (see note 4A) (72.0) (88.5)
Financial Services(1) 364.6 348.6 115.9 110.7 448.7 388.7
Total operating activities 8,195.5 8,224.0 471.0 486.5 4,943.2 4,907.4
Add: excess interest charged to cost of sales
of Financial Services(1) –25.5
Total operating profit 471.0 512.0
Loss on termination of Canadian operation (45.4) –
(Loss)/profit on sale of property and other fixed assets (22.3) 6.2
Net interest income 14.2 27.9
Profit on ordinary activities before taxation 417.5 546.1
Unallocated liabilities (21.4) (10.2)
Net assets 4,921.8 4,897.2
B Geographical segments
(2)
TURNOVER OPERATING PROFIT OPERATING ASSETS
2000 1999 2000 1999 2000 1999
£m £m £m £m £m £m
United Kingdom
Retail(3) 6,482.7 6,601.1 356.8 454.4 3,905.2 3,965.8
Before exceptional operating charges 420.1 478.9
Exceptional operating charges (see note 4A) (63.3) (24.5)
Financial Services(1) 364.6 348.6 115.9 110.7 448.7 388.7
6,847.3 6,949.7 472.7 565.1 4,353.9 4,354.5
International Retail
Europe (excluding UK)(4) 555.6 554.0 (14.8) (90.8) 387.8 354.1
Before exceptional operating charges (6.1) (26.8)
Exceptional operating charges (see note 4A) (8.7) (64.0)
The Americas 691.4 629.5 16.4 15.7 201.2 192.2
Far East(4) 101.2 90.8 (3.3) (3.5) 0.3 6.6
1,348.2 1,274.3 (1.7) (78.6) 589.3 552.9
Total operating activities 8,195.5 8,224.0 471.0 486.5 4,943.2 4,907.4
Add: excess interest charged to cost of sales
of Financial Services(1) –25.5
Total operating profit 471.0 512.0
(1) Financial Services operating profit is stated after charging £105.5m (last year £102.3m) of interest to cost of sales. This interest
represents the cost of funding the Financial Services business as a separate segment, including both intra group interest and third
party funding. The amount of third party interest payable by the Group amounted to £107.4m (last year £76.8m) (see note 5).
Intra group interest of £nil (last year £25.5m), being the excess of third party interest payable, has been added back in the
segmental analysis to arrive at total operating profit.
25 Annual Report and Financial Statements 2000