Marks and Spencer 2000 Annual Report Download - page 30

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5. NET INTEREST INCOME 2000 1999
£m £m £m £m
Bank and other interest income 309.3 306.1
Less: amounts included in turnover of Financial Services (293.2) (278.2)
16.1 27.9
Interest expenditure (107.4) (76.8)
Less: interest charged to cost of sales of Financial Services 105.5 102.3
Intra group interest charged to cost of sales of Financial Services (see note 2) –(25.5)
(1.9) –
Net interest income 14.2 27.9
Interest expenditure comprises:
Amounts repayable within five years:
Bank loans, overdrafts and other borrowings (33.2) (30.5)
Medium term notes (74.2) (36.2)
73⁄8% Guaranteed bonds 1998 –(8.1)
US$ Promissory note 1998 –(2.0)
(107.4) (76.8)
6. TAXATION ON ORDINARY ACTIVITIES 2000 1999
£m £m £m £m
The taxation charge comprises:
Current taxation
UK corporation tax at 30% (last year 31%):
Current year 151.1 169.2
Prior years 2.7 (3.5)
153.8 165.7
Overseas taxation 6.4 2.8
160.2 168.5
Deferred taxation (see note 22)
Current year (1.9) 9.1
Prior years (0.1) (1.5)
(2.0) 7.6
158.2 176.1
Included in the tax charge for the year is a credit of £19.0m (last year £7.6m) which is attributable to exceptional operating charges.
7. 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 £258.7m (last year £372.1m) includes £280.6m (last year £371.6m) which is dealt
with in the financial statements of the Company.
8. DIVIDENDS 2000 1999
£m £m
Ordinary shares
Interim paid of 3.7p per share (last year 3.7p) 106.3 106.1
Proposed final of 5.3p per share (last year 10.7p) 152.3 307.2
Total ordinary dividend of 9.0p per share (last year 14.4p) 258.6 413.3
28 Marks and Spencer p.l.c.
Notes to the financial statements