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96 MARKS AND SPENCER GROUP PLC
Group financial record
The figures for 2005 to 2008 are prepared under IFRS. The figures for 2004 are UK GAAP figures presented in the same format
as the 2005 to 2008 figures.
IFRS IFRS IFRS IFRS UK GAAP
2008 2007 2006 2005 2004
52 weeks 52 weeks 52 weeks 52 weeks 53 weeks
£m £m £m £m £m
Income statement
Revenue – continuing operations 9,022.0 8,588.1 7,797.7 7,490.5 7,728.1
Operating profit – continuing operations
UK Retail 1,095.9 956.7 784.5 528.0 738.6
International Retail 115.4 89.2 65.6 70.1 45.0
Total operating profit 1,211.3 1,045.9 850.1 598.1 783.6
Net interest payable (141.1) (130.0) (121.9) (104.4) (45.7)
Pension finance income/(charge) 58.9 20.8 17.5 11.4 (15.2)
Profit on ordinary activities before taxation – continuing operations
1,129.1 936.7 745.7 505.1 722.7
Analysed between:
Before property disposals and exceptional items 1,007.1 965.2 751.4 556.1 746.1
Profit/(loss) on property disposals 27.0 1.9 (5.7) (0.4) 18.7
Exceptional pension credit 95.0 ––––
Exceptional finance costs –(30.4) – – –
Exceptional operating costs –– – (50.6) (42.1)
Income tax expense (308.1) (277.5) (225.1) (150.1) (225.1)
Profit after taxation 821.0 659.2 520.6 355.0 497.6
Profit from discontinued operations –0.7 2.5 231.2 54.7
Minority interests 0.7 ––––
Profit attributable to shareholders 821.7 659.9 523.1 586.2 552.3
IFRS IFRS IFRS1IFRS1UK GAAP
2008 2007 2006 2005 2004
£m £m £m £m £m
Balance sheet
Non-current assets
Intangible assets 305.5 194.1 163.5 165.4 –
Property, plant and equipment (including investment properties) 4,729.0 4,069.6 3,614.3 3,624.8 3,497.6
Joint venture and other financial assets 12.6 12.3 12.3 9.0 10.0
Retirement benefit asset 504.0 ––––
Trade and other receivables 428.2 247.0 242.8 211.2 1,779.3
Deferred tax assets –11.6 83.9 73.0 203.5
Non-current assets 5,979.3 4,534.6 4,116.8 4,083.4 5,490.4
Current assets 1,181.7 846.4 1,142.1 832.3 2,086.7
Total assets 7,161.0 5,381.0 5,258.9 4,915.7 7,577.1
Current liabilities (1,988.9) (1,606.2) (2,017.0) (1,237.4) (1,919.9)
Non-current liabilities
Retirement benefit deficit (20.5) (283.3) (794.9) (676.0) (669.5)
Other non-current liabilities (3,187.6) (1,843.3) (1,243.3) (2,044.7) (2,533.7)
Total liabilities (5,197.0) (3,732.8) (4,055.2) (3,958.1) (5,123.1)
Net assets 1,964.0 1,648.2 1,203.7 957.6 2,454.0
1 Non-current deferred tax assets have been restated by £48.4m in 2005 and 2006 due to a change in accounting policy (see note 25).