Marks and Spencer 2000 Annual Report Download - page 46

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44 Marks and Spencer p.l.c.
Group financial record
FOR THE YEAR ENDED 31 MARCH
2000 1999 1998 1997 1996
£m £m £m £m £m
53 weeks 52 weeks 52 weeks 52 weeks 52 weeks
Profit and loss account(1)(2)
Turnover:
General 4,629.6 4,765.1 4,811.4 4,601.7 4,181.4
Foods 3,201.3 3,110.3 3,157.1 3,024.1 2,871.3
Financial Services 364.6 348.6 274.8 216.1 181.0
Total turnover (excluding sales taxes) 8,195.5 8,224.0 8,243.3 7,841.9 7,233.7
Retailing – continuing 7,830.9 7,875.4 7,968.5 7,625.8 7,030.3
– discontinued –– – – 22.4
Financial Services 364.6 348.6 274.8 216.1 181.0
Operating profit
United Kingdom 472.7 565.1 1,014.1 931.3 852.4
Europe (excluding UK)(3) (14.8) (90.8) 31.9 37.3 31.7
Americas(4) 16.4 15.7 16.7 20.7 13.9
Far East (3.3) (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 471.0 512.0 1,103.7 1,022.0 924.0
Analysed as:
Before exceptional operating (charges)/income 543.0 600.5 1,050.5 1,022.0 924.0
Exceptional operating (charges)/income (72.0) (88.5) 53.2 – –
Retailing – continuing 355.1 375.8 991.6 946.3 867.2
– discontinued –– – – (2.2)
Financial Services 115.9 110.7 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)
Loss on closure of Canadian operation (45.4) ––––
(Loss)/profit on disposal of property and other fixed assets (22.3) 6.2 (2.8) (1.8) (4.2)
Net interest income 14.2 27.9 54.1 65.9 57.6
Profit before taxation 417.5 546.1 1,155.0 1,086.1 952.4
Taxation on ordinary activities (158.2) (176.1) (338.7) (346.1) (312.0)
Minority interests (0.6) 2.1 (0.4) (1.3) (1.2)
Profit attributable to shareholders 258.7 372.1 815.9 738.7 639.2
Dividends (258.6) (413.3) (409.1) (368.6) (320.9)
Profit/ (loss) for the year 0.1 (41.2) 406.8 370.1 318.3
Balance sheet(1)
Intangible fixed assets 1.3 ––––
Tangible fixed assets 4,242.1 4,387.5 3,964.8 3,412.0 3,246.4
Fixed asset investments 55.0 61.2 69.7 36.6 46.0
Current assets 3,717.1 3,355.9 3,401.5 3,203.0 2,874.3
Total assets 8,015.5 7,804.6 7,436.0 6,651.6 6,166.7
Creditors due within one year (2,162.8) (2,029.8) (2,345.0) (1,775.1) (1,674.9)
Total assets less current liabilities 5,852.7 5,774.8 5,091.0 4,876.5 4,491.8
Creditors due after more than one year (804.3) (772.6) (187.2) (495.8) (497.8)
Provisions for liabilities and charges (126.6) (105.0) (31.0) (31.8) (35.0)
Net assets 4,921.8 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) 1999 reflects £64m provision for impairment of fixed assets.
(4) Inclusive of discontinued operations.