Cosalt plc Annual report & financial statements 2008

Financial statements Notes to the financial statements
2 Segment reporting
(a) Primary
The Group is organised into two main business segments: Marine and Offshore.
The primary segment reporting format is determined to be Business as the Group’s risks and returns are predominantly affected by
differences in the products and services provided by these different activities. The operating business segments are organised and
managed separately.
Continuing operations
52 weeks ended 26 Oct 08
Discontinued operations
Head office/ Holiday
Marine Offshore unallocated Total Schoolwear Homes Total
£000 £000 £000 £000 £000 £000 £000
Revenue
Operating profit/(loss) before
63,161 41,846 – 105,007 5,958 37,148 148,113
special items 2,095 8,336 (933) 9,498 (2,552) (14,940) (7,994)
Special items (455) (150) (4,420) (5,025) – – (5,025)
Operating profit /(loss) 1,640 8,186 (5,353) 4,473 (2,552) (14,940) (13,019)
Total assets 36,230 29,526 52,490 118,246 – – 118,246
Total liabilities (22,999) (11,608) (46,131) (80,738) – – (80,738)
Total net assets 13,231 17,918 6,359 37,508 – – 37,508
Capital expenditure 1,532 1,560 188 3,280 12 808 4,100
Depreciation 1,762 927 117 2,806 102 2,023 4,931
Amortisation of intangible assets 1,388 1,206 7 2,601 26 64 2,691
52 weeks ended 28 Oct 07
Continuing operations Discontinued operations
Head office/ Holiday
Marine Offshore unallocated Total Schoolwear Homes Total
£000 £000 £000 £000 £000 £000 £000
Revenue 55,467 11,439 – 66,906 18,475 49,749 135,130
Operating profit/(loss)
before special items 2,346 1,773 (1,419) 2,700 1,248 1,004 4,952
Special items (1,966) – 1,051 (915) 415 (367) (867)
Operating profit /(loss) 380 1,773 (368) 1,785 1,663 637 4,085
Total assets 28,218 24,247 43,550 96,015 11,277 23,296 130,588
Total liabilities (18,336) (9,268) (23,415) (51,019) (5,587) (15,172) (71,778)
Total net assets 9,882 14,979 20,135 44,996 5,690 8,124 58,810
Capital expenditure 1,248 152 64 1,464 40 391 1,895
Depreciation 1,807 122 129 2,058 207 368 2,633
Amortisation of intangible assets 860 49 7 916 59 52 1,027
Operating profits are shown before Head Office charges.
* Unallocated assets and liabilities principally represent investment properties, taxation, dividends, and pension scheme liability.
(b) Secondary
Geographical segments:
Segment information for the years ended 26 October 2008 and 28 October 2007 is as follows:
Revenue Assets Capital
2008 2007 2008 2007 2008 2007
£000 £000 £000 £000 £000 £000
UK continuing 70,222 43,265 103,048 87,661 2,469 852
UK discontinuing 42,309 66,999 – 34,573 820 434
UK total 112,531 110,264 103,048 122,234 3,289 1,286
Rest of Europe continuing 34,785 23,641 15,198 8,354 811 609
Rest of Europe discontinuing 797 1,225 – – – –
Rest of Europe total 35,582 24,866 15,198 8,354 811 609
Total 148,113 135,130 118,246 130,588 4,100 1,895
Revenue is based on the region in which the customer is located. Total assets and capital expenditure are based on the region in
which the assets are located.
Cosalt plc Annual report & financial statements 2008
51