Unilever 2008 Annual Report Download - page 133

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Notes to the consolidated accounts Unilever Group
130 Unilever Annual Report and Accounts 2008
Financial statements
27 Assets held for sale and discontinued operations
Included under this heading are the results of the majority of Unilever’s European frozen foods businesses following the sale to Permira Funds in
November 2006.
An analysis of the result of discontinued operations, and the result recognised on disposal of discontinued operations is as follows:
€ million € million € million
Income statement of discontinued operations 2008 2007 2006
Turnover –– 1 033
Expenses –– (863)
Operating profit –– 170
Net finance costs –– (3)
Profit before tax –– 167
Taxation –– (25)
Profit after taxation –– 142
Gain/(loss) on disposal of discontinued operations(a) –89 1 349
Recycling of currency retranslation upon disposal –––
Taxation arising on disposal –(9) (161)
Gain/(loss) after taxation on disposal –80 1 188
Net profit from discontinued operations –80 1 330
(a) In 2007, a one-off gain of €50 million was recognised for future performance-based consideration from the sale of UCI.
€ million € million € million
Segment analysis of discontinued operations 2008 2007 2006
Turnover
Western Europe –– 1 033
The Americas –––
Asia, Africa and Central & Eastern Europe ––
–– 1 033
Foods –– 1 033
Personal care –––
–– 1 033
Operating profit
Western Europe –– 170
The Americas –––
Asia, Africa and Central & Eastern Europe ––
–– 170
Foods –– 164
Personal care ––6
–– 170