Income Statement Summary
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| Statutory 52 weeks to 1 March 2008 |
Pro forma 52 weeks to 3 March 2007 |
Statutory period to 3 March 2007 (short period) |
|
|---|---|---|---|
| Argos | 4,320.9 | 4,164.0 | 3,912.8 |
| Homebase | 1,568.5 | 1,594.2 | 1,606.3 |
| Financial Services | 95.4 | 93.2 | 87.6 |
| Sales | 5,984.8 | 5,851.4 | 5,606.7 |
| Cost of sales | (3,852.2) | (3,852.2) | (3,680.5) |
| Gross profit | 2,103.8 | 1,999.2 | 1,926.2 |
| Net operating expenses before exceptional items and costs related to demerger incentive schemes | (1,705.8) | (1,639.8) | (1,592.5) |
| Argos | 376.2 | 325.0 | 300.9 |
| Homebase | 45.1 | 53.4 | 51.2 |
| Financial Services | 5.5 | 5.0 | 4.5 |
| Central Activities | (28.8) | (24.0) | (22.9) |
| Benchmark operating profit | 398.0 | 359.4 | 333.7 |
| Net interest income (see below) | 33.3 | 16.6 | n/a |
| Share of post-tax results of joint venture and associates | 1.6 | 0.7 | 0.7 |
| Benchmark PBT | 432.9 | 376.7 | n/a |
| Net interest costs attributable to GUS capital structure (see below) | - | (39.2) | (21.0) |
| Exceptional items included in operating profit | 0.8 | (22.7) | (22.7) |
| Costs related to demerger incentive schemes | (11.7) | (5.8) | (5.8) |
| Financing fair value remeasurements | (9.0) | (0.1) | (0.1) |
| Financing impact on retirement benefit balances | 13.0 | 12.3 | 12.1 |
| Profit before tax | 426.0 | 321.2 | 296.9 |
| Taxation | (131.4) | (117.5) | (109.5) |
| of which: taxation attributable to pro forma benchmark PBT | (138.5) | (122.1) | n/a |
| Profit for the period | 294.6 | 203.7 | 187.4 |
| Basic benchmark EPS | 33.9p | 29.3p | n/a |
| Basic EPS | 34.0p | n/a | 21.6p |
| Number of shares for basic EPS | 867.7m | 869.6m | 869.6m |
| Net interest reconciliation: | |||
| Third party net interest income/(expense) | 13.7 | (1.2) | n/a |
| Financing costs charged to Financial Services | 19.6 | 17.8 | n/a |
| Pro forma net interest income | 33.3 | 16.6 | n/a |
| Interest costs attributable to GUS capital structure | - | (46.1) | (44.3) |
| Exceptional finance income | - | 6.9 | 6.9 |
| Financing costs charged to Financial Services | - | - | 16.4 |
| Net interest costs attributable to GUS capital structure |
- | (39.2) | (21.0) |
| Financing fair value remeasurements | (9.0) | (0.1) | (0.1) |
| Financing impact on retirement benefit balances | 13.0 | 12.3 | 12.1 |
| Income statement net financing income/(costs) | 37.3 | (10.4) | (9.0) |
