Dave Forsey Chief Executive 19 July 2012 - Sports Direct International

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110 / FINANCIAL STATEMENTS AND NOTES notes to the company Financial Statements 5. Called up share capital Authorised 999,500,010 ordinary shares of 10p each 99,950 99,950 499,990 redeemable preference shares of 10p each 50 50 2012 (£’000) 2011 (£’000) 100,000 100,000 Called up and fully paid 640,602,369 (2011: 640,552,369) ordinary shares of 10p each 64,060 64,055 Share capital At 24 April 2011 64,055 64,050 Issue of shares 5 5 At 29 April 2012 64,060 64,055 6. Reserves Share premium account (£’000) Treasury share reserve (£’000) Permanent contribution to capital (£’000) Capital redemption reserve (£’000) Own share reserve (£’000) Profit and loss account (£’000) At 24 April 2011 874,300 (85,088) 50 8,005 (6,094) 129,579 Transfer of shares to EBT - 51,590 - - (51,590) - Difference between original cost and market value of shares transferred to EBT - (22,341) - - - (22,341) Loss for the financial period - - - - - (2,015) Share based payments - - - - - 20,643 At 29 April 2012 874,300 (55,839) 50 8,005 (57,684) 170,548 The Company holds 42,000,000 ordinary shares in Treasury. 7. Reconciliation of movement on shareholders’ funds Opening shareholders’ funds 984,807 Issue of shares 5 Loss for the financial period (2,015) Share based payments 20,643 Closing shareholders’ funds 1,003,440 8. post balance sheet events No material post balance sheet events occurred after 29 April 2012 to the date of this Annual Report. 2012 (£’000)
consolidated five year record Unaudited income statement Continuing operations: 53 weeks IFRS 29 April 2012 (£’000) 52 weeks IFRS 24 April 2011 (£’000) 52 weeks IFRS 25 April 2010 (£’000) 52 weeks IFRS 26 April 2009 (£’000) 52 weeks IFRS 27 April 2008 (£’000) Revenue 1,835,756 1,599,237 1,451,621 1,367,321 1,259,510 Cost of sales (1,091,480) (940,330) (862.490) (809,685) (709,809) Gross profit 744,276 658,907 589,131 557,636 549,701 Selling, distribution and administrative expenses (594,368) (527,273) (524,611) (463,297) (444,109) Other operating income 3,268 5,289 3,493 4,004 4,023 Costs of admission to the London Stock Exchange - - - - - Past performance bonuses - - - - - Profit on disposal of certain retail concessions - - - - - Leofelis legal claim - - - - - Reorganisation costs - - - - - Regulatory enquiries - - (7,800) - - Legal dispute 2,309 (3,128) (2,186) - - Impairment of intangible fixed assets - - - (14,832) - Impairment of Freehold property - - - (15,682) - Profit on disposal of leasehold property 724 - - - - Profit on disposal of freehold property 962 - - - - Profit on disposal of intangible asset 1,624 876 - - - Exceptional items 5,619 (2,252) (9,986) (30,514) - Operating profit 158,795 134,671 58,027 67,829 109,615 Investment (costs) / income (5,800) (9,481) 24,653 (51,949) 43,874 Finance income 6,426 2,560 40,150 15,927 5,370 Finance costs (8,481) (8,953) (10,528) (23,633) (45,006) Share of profit of associated undertakings and joint ventures 558 (8) 7,200 2,482 5,020 Profit before taxation 151,498 118,789 119,502 10,656 118,873 Taxation (45,867) (35,566) (30,286) (26,164) (41,126) Profit for the period 105,631 83,223 89,216 (15,508) 77,747 Equity holders of the Group 106,198 84,173 89,433 (15,838) 78,182 Non-controlling interests (567) (950) (217) 330 (435) Profit for the period 105,631 83,223 89,216 (15,508) 77,747 Notes to the consolidated income statement five year record: 1. All information is presented under IFRS. 2. The five year record has been prepared on the same basis as the financial statements for the 53 weeks ended 29 April 2012, as set out in Note 1, basis of preparation, of the consolidated financial statements. 111
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Dave Forsey Chief Executive 19 July
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Sports Direct is the UK’s leading
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financial highlights The Financial
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Further expansion of the Internatio
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fascias As at 29 April 2012 the Gro
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Online revenue (£’m) FY09 15.1 F
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Firetrap The Group made acquisition
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onus share scheme key performance i
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Our Business Model The Group’s fi
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Key performance Indicators The Grou
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Review by business segment Retail R
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uk store portfolio 29 April 2012 24
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international store portfolio 29 Ap
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tennis cricket outdoor winter sport
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During the year we combined fashion
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31 Eoin Morgan Slazenger Brand Amba
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Area Risk Mitigation Market Forces
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35 Fernando Verdasco Dunlop Brand A
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37 Lee Westwood and Darren Clarke D
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Ebitda and profit before tax EBITDA
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The items adjusted for arriving at
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Cash flow and net debt Net debt dec
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Simon Bentley (aged 57) Senior Inde
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Shareholders No shareholder enjoys
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Going concern The Group’s busines
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Presentations are also given on bus
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Audit Committee Attendance at meeti
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Code of securities dealing The Comp
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Executive Bonus Share Scheme The Ex
Page 59 and 60: Directors’ emoluments An analysis
Page 61 and 62: Corporate Responsibility Report Mee
Page 63 and 64: Environment The Group is aware that
Page 65 and 66: official T-Shirt retailer for Sport
Page 67 and 68: Independent auditor’s report to t
Page 69 and 70: consolidated statement of comprehen
Page 71 and 72: consolidated cash flow statement Fo
Page 73 and 74: notes to the Financial Statements F
Page 75 and 76: Government grants and similar incom
Page 77 and 78: Employee Benefit Trust The cost of
Page 79 and 80: At each balance sheet date, there w
Page 81 and 82: Other segment items included in the
Page 83 and 84: 8. Employee costs The average month
Page 85 and 86: 13. Earnings per share from total a
Page 87 and 88: 15. Intangible assets Cost Goodwill
Page 89 and 90: Associates The business activity of
Page 91 and 92: The administrator of KSF appealed t
Page 93 and 94: Contingent share awards The Executi
Page 95 and 96: 24. Retirement benefit obligations
Page 97 and 98: The movements in the present value
Page 99 and 100: Loans and payables (£’000) Liabi
Page 101 and 102: Interest rate sensitivity analysis
Page 103 and 104: 30. Cash inflow from operating acti
Page 105 and 106: 35. principal subsidiary undertakin
Page 107 and 108: company balance sheet Fixed assets
Page 109: 2. Investments Shares in Group unde
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Dave Forsey Chief Executive 19 July 2012 - Sports Direct International

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