Marks and Spencer 2003 Annual Report Download - page 53

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www.marksandspencer.co m 51
2003 2002 2001 2000 1999
£m £m £m £m £m
52 weeks 52 weeks 52 weeks 53 weeks 52 weeks
Profit and loss account1
Turnover:
Continuing operations
General 4,205.3 3,848.1 3,740.7 3,985.4 4,151.8
Foods 3,542.0 3,420.5 3,238.8 3,133.6 3,030.5
Retailing 7,747.3 7,268.6 6,979.5 7,119.0 7,182.3
Financial Services 329.9 350.8 363.1 364.6 348.6
Total continuing operations 8,077.2 7,619.4 7,342.6 7,483.6 7,530.9
Discontinued operations –516.0 733.1 711.9 693.1
Total turnover (excluding sales taxes) 8,077.2 8,135.4 8,075.7 8,195.5 8,224.0
Operating profit
Continuing operations
United Kingdom 674.4 589.4 404.6 472.7 565.1
Overseas 43.5 33.3 41.9 24.0 14.5
Excess interest charged to cost of sales
of Financial Services –6.4 7.9 – 25.5
717.9 629.1 454.4 496.7 605.1
Discontinued operations –14.7 (13.9) (25.7) (93.1)
Total operating profit 717.9 643.8 440.5 471.0 512.0
Analysed as:
Before exceptional operating income 761.8 643.8 467.0 543.0 600.5
Exceptional operating charges (43.9) – (26.5) (72.0) (88.5)
Retailing
Continuing 631.5 538.5 350.2 380.8 468.9
Discontinued –14.7 (13.9) (25.7) (93.1)
Financial Services 86.4 84.2 96.3 115.9 110.7
Excess interest charged to cost of sales
of Financial Services –6.4 7.9 – 25.5
Provision for loss on operations to be discontinued – (224.0) – –
Loss on closure of businesses (1.5) (366.7) (1.7) (45.4) –
Profit/(loss) on disposal of property and other fixed assets 1.6 41.2 (83.2) (22.3) 6.2
Net interest (expense)/income (40.5) 17.6 13.9 14.2 27.9
Profit before taxation 677.5 335.9 145.5 417.5 546.1
Taxation on ordinary activities (197.4) (182.5) (149.5) (140.4) (175.7)
Minority interests 0.4 (0.4) (1.5) (0.6) 2.1
Profit attributable to shareholders 480.5 153.0 (5.5) 276.5 372.5
Dividends (246.0) (238.9) (258.3) (258.6) (413.3)
Profit/(loss) for the period 234.5 (85.9) (263.8) 17.9 (40.8)
Balance sheet1
Intangible fixed assets –– – 1.3 –
Tangible fixed assets 3,435.1 3,381.2 4,118.9 4,242.1 4,387.5
Fixed asset investments 31.5 50.3 58.3 55.0 61.2
Current assets 3,289.1 3,760.7 3,516.2 3,717.1 3,355.9
Total assets 6,755.7 7,192.2 7,693.4 8,015.5 7,804.6
Creditors due within one year (1,678.9) (1,750.8) (1,981.6) (2,162.8) (2,029.8)
Total assets less current liabilities 5,076.8 5,441.4 5,711.8 5,852.7 5,774.8
Creditors due after more than one year (1,810.0) (2,156.3) (735.1) (804.3) (772.6)
Provisions for liabilities and charges (228.4) (203.8) (395.3) (199.4) (195.6)
Net assets 3,038.4 3,081.3 4,581.4 4,849.0 4,806.6
1Restated for 2001 and prior years for the change in accounting policy for deferred taxation.
Group financial record