Marks and Spencer 2002 Annual Report Download - page 54

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52 Marks and Spencer Group p.l.c.
Group financial record
2002 2001 2000 1999 1998
£m £m £m £m £m
52 weeks 52 weeks 53 weeks 52 weeks 52 weeks
Profit and loss account1,2
Turnover:
Continuing operations
General 3,848.1 3,740.7 3,985.4 4,151.8 4,286.6
Foods 3,420.5 3,238.8 3,133.6 3,030.5 3,001.8
Retailing 7,268.6 6,979.5 7,119.0 7,182.3 7,288.4
Financial Services 350.8 363.1 364.6 348.6 274.8
Total continuing operations 7,619.4 7,342.6 7,483.6 7,530.9 7,563.2
Discontinued operations 516.0 733.1 711.9 693.1 680.1
Total turnover (excluding sales taxes) 8,135.4 8,075.7 8,195.5 8,224.0 8,243.3
Operating profit
Continuing operations
United Kingdom 589.4 404.6 472.7 565.1 1,014.1
Overseas 33.3 41.9 24.0 14.5 54.5
Excess interest charged to cost of sales
of Financial Services 6.4 7.9 – 25.5 22.7
629.1 454.4 496.7 605.1 1,091.3
Discontinued operations 14.7 (13.9) (25.7) (93.1) 12.4
Total operating profit 643.8 440.5 471.0 512.0 1,103.7
Analysed as:
Before exceptional operating (charges)/income 643.8 467.0 543.0 600.5 1,050.5
Exceptional operating (charges)/income –(26.5) (72.0) (88.5) 53.2
Retailing
Continuing 538.5 350.2 380.8 468.9 979.3
Discontinued 14.7 (13.9) (25.7) (93.1) 12.3
Financial Services 84.2 96.3 115.9 110.7 89.4
Excess interest charged to cost of sales
of Financial Services 6.4 7.9 – 25.5 22.7
Provision for loss on operations to be discontinued –(224.0) – – –
Loss on closure of businesses (366.7) (1.7) (45.4) – –
Profit/(loss) on disposal of property and other fixed assets 41.2 (83.2) (22.3) 6.2 (2.8)
Net interest income 17.6 13.9 14.2 27.9 54.1
Profit before taxation 335.9 145.5 417.5 546.1 1,155.0
Taxation on ordinary activities (182.5) (149.5) (140.4) (175.7) (333.3)
Minority interests (0.4) (1.5) (0.6) 2.1 (0.4)
Profit attributable to shareholders 153.0 (5.5) 276.5 372.5 821.3
Dividends (238.9) (258.3) (258.6) (413.3) (409.1)
(Loss)/profit for the period (85.9) (263.8) 17.9 (40.8) 412.2
Balance sheet1,2
Intangible fixed assets ––1.3––
Tangible fixed assets 3,381.2 4,118.9 4,242.1 4,387.5 3,964.8
Fixed asset investments 50.3 58.3 55.0 61.2 69.7
Current assets 3,760.7 3,516.2 3,717.1 3,355.9 3,401.5
Total assets 7,192.2 7,693.4 8,015.5 7,804.6 7,436.0
Creditors due within one year (1,750.8) (1,981.6) (2,162.8) (2,029.8) (2,345.0)
Total assets less current liabilities 5,441.4 5,711.8 5,852.7 5,774.8 5,091.0
Creditors due after more than one year (2,156.3) (735.1) (804.3) (772.6) (187.2)
Provisions for liabilities and charges (203.8) (395.3) (199.4) (195.6) (122.0)
Net assets 3,081.3 4,581.4 4,849.0 4,806.6 4,781.8
1Restated for 1998 for the change in accounting policy relating to the depreciation of fit out.
2Restated for 2001 and prior years for the change in accounting policy for deferred taxation.