Download full Annual Report and Accounts - Kingfisher

110
Group fi ve year
fi nancial summary
Kingfi sher plc
Annual Report
and Accounts
2009/10
2005/06 1 2006/07 1,2 2007/08 1,2 2008/09 2009/10
£ millions 52 weeks 53 weeks 52 weeks 52 weeks 52 weeks
Income statement
Sales 7,743 8,364 9,050 10,026 10,503
Retail profi t 504 473 469 503 664
Central costs (38) (39) (40) (41) (41)
Share of interest and tax of joint ventures and associates (10) (13) (5) (16) (17)
Operating profi t before exceptional items 456 421 424 446 606
Net fi nance costs before fi nancing fair value remeasurements (40) (55) (67) (78) (59)
Adjusted pre-tax profi t 416 366 357 368 547
Exceptional items (215) 49 4 (273) 17
Financing fair value remeasurements 2 5 5 (5) 2
Profi t before taxation 203 420 366 90 566
Income tax expense (82) (102) (114) (88) (181)
Profi t from continuing operations 121 318 252 2 385
Balance sheet
Goodwill and other intangible assets 2,660 2,641 2,617 2,469 2,465
Property, plant and equipment and investment property 3,281 3,240 3,727 3,723 3,636
Investments in joint ventures and associates 185 185 204 219 234
Net current assets/(liabilities) 3 72 (51) (23) (278) (648)
Post employment benefi ts (240) (55) 77 (74) (198)
Other net non-current liabilities 3 (282) (245) (319) (257) (284)
Capital employed 5,676 5,715 6,283 5,802 5,205
Equity shareholders’ funds 4,311 4,414 4,713 4,783 4,945
Minority interests 10 7 11 15 10
Net debt 1,355 1,294 1,559 1,004 250
Capital employed 5,676 5,715 6,283 5,802 5,205
KPIs
Like-for-like sales growth (2.4%) 0.8% 2.8% (4.1%) (1.5%)
Effective tax rate 33% 32% 31% 31% 30%
Basic earnings per share (pence) 5.2 13.6 10.9 0.2 16.5
Adjusted basic earnings per share (pence) 11.8 10.6 10.6 11.0 16.4
Dividend per share (pence) 10.65 10.65 7.25 5.325 5.5
Gross capital expenditure 4 482 436 513 390 256
1 Income statement, like-for-like sales growth, effective tax rate, basic and adjusted earnings per share and gross capital expenditure restated for discontinuance of Castorama Italy
in 2008/09.
2 Like-for-like sales growth in 2006/07 calculated by comparing 53 weeks against the equivalent 53 weeks of the prior year. 2007/08 growth calculated by comparing 52 weeks
against the equivalent 52 weeks of the prior year. This only impacted UK operations with all other operations reporting on a calendar basis. The effect of the 53rd week on 2006/07
results was an increase of £79m in reported sales, but with no signifi cant impact on operating profi t.
3 Net current assets/(liabilities) and other net non-current liabilities reported above exclude any components of net debt.
4 Excluding business acquisitions.