Group five year summary
| Profit by division |
UK GAAP |
UK GAAP 2003 £m |
UK GAAP 2004 £m |
UK GAAP 2005 £m |
IFRS 2005 £m |
IFRS 2006 £m |
|||||
| Continuing operations: | |||||||||||
| Argos Retail Group | |||||||||||
| Argos | 212 | 241 | 298 | 309 | 304 | 291 | |||||
| Homebase | – | 2 | 102 | 92 | 96 | 52 | |||||
| Financial Services | (18) | (13) | (5) | – | – | 6 | |||||
| 194 | 230 |
395 | 401 | 400 | 349 | ||||||
| Experian | 224 | 256 | 282 | 318 | 317 | 417 | |||||
| Central activities | (7) | (16) | (20) | (24) | (22) | (20) | |||||
| 411 | 470 | 657 | 695 | 695 | 746 | ||||||
| Discontinued operations: | |||||||||||
| Argos Retail Group (Home Shopping, Reality and Wehkamp) | 61 | 55 | 21 | 20 | 23 | 20 | |||||
| Burberry | 90 | 117 | 141 | 166 | 161 | 94 | |||||
| Lewis Group | 31 | 32 | 44 | 55 | 55 | 5 | |||||
| Property | 25 | 26 | 18 | – | – | – | |||||
| 207 | 230 | 224 | 241 | 239 | 119 | ||||||
| EBIT | 618 | 700 | 881 | 936 | 934 | 865 | |||||
| Net interest | (67) | (58) | (54) | (26) | (24) | (36) | |||||
| Benchmark profit | 551 | 642 | 827 | 910 | 910 | 829 | |||||
| Include: amortisation of acquisition intangibles (UK GAAP: goodwill) | (99) | (143) | (193) | (207) | (11) | (37) | |||||
| Include: exceptional items relating to continuing operations | (72) | (90) | 53 | (7) | (7) | (4) | |||||
| Include: store impairment charges | – | – | – | – | – | (13) | |||||
| Include: financing fair value remeasurements | – | – | – | – | – | (3) | |||||
| Include: tax expense on continuing operations’ share of profits of associates | – | – | – | (1) | (1) | (1) | |||||
| Exclude: EBIT of discontinued operations | (207) | (230) | (224) | (241) | (239) | (119) | |||||
| Exclude: net interest of discontinued operations | – | – | (2) | (4) | (4) | (3) | |||||
| Profit before tax | 173 | 179 | 461 | 450 | 648 | 649 | |||||
| Group tax expense on continuing operations | (104) | (93) | (125) | (144) | (176) | (165) | |||||
| Profit after tax from continuing operations | 69 | 86 | 336 | 306 | 472 | 484 | |||||
| Profit for the financial year from discontinued operations | 189 | 182 | 164 | 166 | 173 | 111 | |||||
| Profit for the financial year | 258 | 268 | 500 | 472 | 645 | 595 | |||||
| Attributable to | |||||||||||
| Equity shareholders in the parent company | 257 | 251 | 473 | 423 | 596 | 569 | |||||
| Minority interests | 1 | 17 | 27 | 49 | 49 | 26 | |||||
| Profit for the financial year | 258 | 268 | 500 | 472 | 645 | 595 | |||||
| Balance sheet | |||||||||||
| Tangible and intangible fixed assets (other than goodwill) | 1,039 | 1,221 | 1,197 | 1,327 | 1,354 | 1,491 | |||||
| Fixed asset investments | 278 | 295 | 103 | 114 | 118 | 150 | |||||
| Working capital | 1,416 | 1,053 | 765 | 978 | 684 | 366 | |||||
| Trading assets | 2,733 | 2,569 | 2,065 | 2,419 | 2,156 | 2,007 | |||||
| Goodwill | 1,422 | 2,436 | 2,338 | 2,333 | 2,485 | 3,068 | |||||
| Tax (UK GAAP: and dividends) | (257) | (286) | (363) | (353) | (1) | (44) | |||||
| Transaction consideration | (22) | (37) | 131 | 98 | 98 | 75 | |||||
| Net borrowings (including non-recourse borrowings) | (1,485) | (2,086) | (1,200) | (1,427) | (1,427) | (1,974) | |||||
| Net assets | 2,391 | 2,596 | 2,971 | 3,070 | 3,311 | 3,132 | |||||
| Earnings and dividends | 2002 | 2003 | 2004 | 2005 | 2005 | 2006 | |||||
| Earnings per share | 25.7p | 25.1p | 47.4p | 42.3p | 59.6p | 60.2p | |||||
| Benchmark earnings per share | 41.7p | 47.8p | 60.7p | 63.8p | 62.0p | 62.3p | |||||
| Dividend per share | 21.7p | 23.3p | 27.0p | 29.5p | 29.5p | 31.5p | |||||
| Dividend cover | 1.92 | 2.05 | 2.25 | 2.16 | 2.10 | 1.98 | |||||
| Interest cover | 9.3 | 12.0 | 16.3 | 33.7 | 39.0 | 24.0 | |||||