Marks and Spencer 2004 Annual Report Download - page 56

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54
Marks and Spencer Group plc
Group financial record
2003
2004 52 weeks 2002 2001 2000
53 weeks As restated 52 weeks 52 weeks 53 weeks
£m £m £m £m £m
Profit and loss account
Turnover:
Continuing operations
Retailing 7,971.5 7,689.2 7,268.6 6,979.5 7,119.0
Financial Services 330.0 329.9 350.8 363.1 364.6
Total continuing operations 8,301.5 8,019.1 7,619.4 7,342.6 7,483.6
Discontinued operations –– 516.0 733.1 711.9
Total turnover (excluding sales taxes) 8,301.5 8,019.1 8,135.4 8,075.7 8,195.5
Operating profit
Continuing operations
United Kingdom 776.5 686.3 589.4 404.6 472.7
Overseas 47.4 42.8 33.3 41.9 24.0
Excess interest charged to cost of sales
of Financial Services –– 6.4 7.9 –
823.9 729.1 629.1 454.4 496.7
Discontinued operations –– 14.7 (13.9) (25.7)
Total operating profit 823.9 729.1 643.8 440.5 471.0
Analysed as:
Before exceptional operating charges 866.0 773.0 643.8 467.0 543.0
Exceptional operating charges (42.1) (43.9) – (26.5) (72.0)
Retailing
Continuing 773.3 642.7 538.5 350.2 380.8
Discontinued –– 14.7 (13.9) (25.7)
Financial Services 50.6 86.4 84.2 96.3 115.9
Excess interest charged to cost of sales
of Financial Services –– 6.4 7.9 –
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 18.7 1.6 41.2 (83.2) (22.3)
Net interest (expense)/income (45.8) (40.5) 17.6 13.9 14.2
Other finance (charge)/income (15.2) 27.0–––
Profit before taxation 781.6 715.7 335.9 145.5 417.5
Taxation on ordinary activities (229.3) (208.8) (182.5) (149.5) (140.4)
Minority interests –0.4 (0.4) (1.5) (0.6)
Profit attributable to shareholders 552.3 507.3 153.0 (5.5) 276.5
Dividends (263.2) (246.0) (238.9) (258.3) (258.6)
Profit/(loss) for the period 289.1 261.3 (85.9) (263.8) 17.9
Comparatives for 2003 have been restated following the adoption of FRS 17 – ‘Retirement Benefits’, Application Note G
of FRS 5 – ‘Revenue Recognition’ and UITF 38 – ‘Accounting for ESOP Trusts’. Comparatives for prior years have not been
restated as in the opinion of the directors, unnecessary expense would be incurred to obtain the relevant information.
Comparatives for 2000 and 2001 were restated in 2002 following the adoption of FRS 19 – ‘Deferred Taxation’ in 2002.