Marks and Spencer 2001 Annual Report Download - page 43

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www.marksandspencer.com 43
2001 2000 1999 1998 1997
£m £m £m £m £m
52 weeks 53 weeks 52 weeks 52 weeks 52 weeks
Profit and loss account1,2
Turnover:
General 4,413.5 4,629.6 4,765.1 4,811.4 4,601.7
Foods 3,299.1 3,201.3 3,110.3 3,157.1 3,024.1
Financial Services 363.1 364.6 348.6 274.8 216.1
Total turnover (excluding sales taxes) 8,075.7 8,195.5 8,224.0 8,243.3 7,841.9
Retailing 7,712.6 7,830.9 7,875.4 7,968.5 7,625.8
Financial Services 363.1 364.6 348.6 274.8 216.1
Operating profit
United Kingdom 404.6 472.7 565.1 1,014.1 931.3
Europe (excluding UK)3(11.4) (14.8) (90.8) 31.9 37.3
North America 32.0 16.4 15.7 16.7 20.7
Far East 7.4 (3.3) (3.5) 18.3 32.7
Excess interest charged to cost of sales of Financial Services 7.9 – 25.5 22.7 –
Total operating profit 440.5 471.0 512.0 1,103.7 1,022.0
Analysed as:
Before exceptional operating (charges)/income 467.0 543.0 600.5 1,050.5 1,022.0
Exceptional operating (charges)/income (26.5) (72.0) (88.5) 53.2 –
Retailing 336.3 355.1 375.8 991.6 946.3
Financial Services 96.3 115.9 110.7 89.4 75.7
Excess interest charged to cost of sales of Financial Services 7.9 – 25.5 22.7 –
Loss on operations to be discontinued (224.0) ––––
Loss on closure of businesses (1.7) (45.4) – – –
(Loss)/profit on disposal of property and other fixed assets (83.2) (22.3) 6.2 (2.8) (1.8)
Net interest income 13.9 14.2 27.9 54.1 65.9
Profit before taxation 145.5 417.5 546.1 1,155.0 1,086.1
Taxation on ordinary activities (142.7) (158.2) (176.1) (338.7) (346.1)
Minority interests (1.5) (0.6) 2.1 (0.4) (1.3)
Profit attributable to shareholders 1.3 258.7 372.1 815.9 738.7
Dividends (258.3) (258.6) (413.3) (409.1) (368.6)
(Loss)/profit for the year (257.0) 0.1 (41.2) 406.8 370.1
Balance sheet1
Intangible fixed assets –1.3 – – –
Tangible fixed assets 4,118.9 4,242.1 4,387.5 3,964.8 3,412.0
Fixed asset investments 58.3 55.0 61.2 69.7 36.6
Current assets 3,516.2 3,717.1 3,355.9 3,401.5 3,203.0
Total assets 7,693.4 8,015.5 7,804.6 7,436.0 6,651.6
Creditors due within one year (1,981.6) (2,162.8) (2,029.8) (2,345.0) (1,775.1)
Total assets less current liabilities 5,711.8 5,852.7 5,774.8 5,091.0 4,876.5
Creditors due after more than one year (735.1) (804.3) (772.6) (187.2) (495.8)
Provisions for liabilities and charges (315.7) (126.6) (105.0) (31.0) (31.8)
Net assets 4,661.0 4,921.8 4,897.2 4,872.8 4,348.9
1Restated for 1998 and prior years for the change in accounting policy relating to the depreciation of fit out.
2Restated for 1997 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.
31999 reflects £64.0m provision for impairment of fixed assets.
Group financial record
FOR THE YEAR ENDED 31 MARCH