Annual report and financial statements 2011 - Analist.nl

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110 Key performance measures 2011 52 weeks £m 2010 53 weeks £m 2009 52 weeks £m 2008 52 weeks £m 2007 52 weeks £m Income statement Revenue ¹ UK 8,733.0 8,567.9 8,164.3 8,309.1 7,977.5 International 1,007.3 968.7 897.8 712.9 610.6 9,740.3 9,536.6 9,062.1 9,022.0 8,588.1 Operating profit ¹ UK 679.0 701.1 755.0 1,095.9 956.7 International 157.9 150.9 115.7 115.4 89.2 Total operating profit 836.9 852.0 870.7 1,211.3 1,045.9 Net interest payable (93.9) (160.1) (199.9) (141.1) (130.0) Pension finance income 37.6 10.8 35.4 58.9 20.8 Profit on ordinary activities before taxation – continuing operations 780.6 702.7 706.2 1,129.1 936.7 Analysed between: Underlying profit before tax 714.3 694.6 604.4 1,007.1 965.2 Adjustments to reported profit 66.3 8.1 101.8 122.0 (28.5) Income tax expense (182.0) (179.7) (199.4) (308.1) (277.5) Profit after taxation 598.6 523.0 506.8 821.0 659.2 2011 52 weeks 2010 53 weeks 2009 52 weeks 2008 52 weeks 2007 52 weeks Net margin¹ Operating profit/ 8.6% 8.9% 9.6% 13.4% 12.2% Revenue Net underlying operating margin 8.5% 8.8% 8.5% 12.1% 12.2% Basic earnings per share¹ Basic earnings/ 38.8p 33.5p 32.3p 49.2p 39.1p Weighted average ordinary shares in issue Underlying basic earnings per share¹ 34.8p 33.0p 28.0p 43.6p 40.4p Dividend per share declared in respect of the year 17.0p 15.0p 17.8p 22.5p 18.3p Dividend cover Profit attributable to shareholders/ 2.3x 2.2x 1.8x 2.3x 2.1x Dividend payable Retail fixed charge cover Operating profit before depreciation and operating lease charges/ 4.0x 4.0x 3.5x 5.3x 5.9x Fixed charges Net debt² (£m) 1,900.9 2,068.4 2,490.8 3,077.7 1,949.5 1 Based on continuing operations. 2 Excludes accrued interest. Marks and Spencer Group plc Annual report and financial statements 2011
Shareholder information 111 Overview Analysis of share register Ordinary shares As at 2 April 2011, there were 210,811 holders of ordinary shares whose shareholdings are analysed below. Managing your shares The Company’s register of shareholders is maintained by our Registrar, Equiniti. Shareholders with queries relating to their shareholding should contact Equiniti directly. Their contact details can be found overleaf. Alternatively, shareholders may find the ‘Investors’ section of our corporate website useful for general queries. Dividends Paid in January and July each year. We encourage shareholders to have dividends paid directly into their bank accounts to ensure efficient payment and cleared funds on the payment date. Those selecting this payment method receive an annual consolidated tax voucher in January, showing both dividend payments in the respective tax year. However, we are able to send separate tax vouchers with each payment, if preferred. To change how you receive your dividends either log on to shareview.co.uk or contact Equiniti. Duplicate documents Around 10,000 shareholders still receive duplicate documentation and split dividend payments due to having more than one account on the share register. If you think you fall into this group and would like to combine your accounts, please contact Equiniti. If you move house It is extremely important that you contact Equiniti to inform them of your new address as soon as possible. If you hold 1,500 shares or fewer, and reside in the UK, this can be done quickly over the phone. However, for holdings greater than 1,500 your instruction will need to be in writing, quoting your full name, previous address and new address. Number of holdings Percentage of total shareholders Number of ordinary shares Percentage of ordinary shares Range 1 – 500 106,294 50.42 20,940,524 1.32 501 –1,000 41,998 19.92 31,415,804 1.98 1,001 – 2,000 32,201 15.27 46,127,764 2.91 2,001 – 5,000 21,565 10.23 66,141,629 4.17 5,001 – 10,000 5,556 2.64 38,530,292 2.43 10,001 – 100,000 2,587 1.23 59,709,860 3.77 100,001 – 1,000,000 440 0.21 144,481,595 9.12 1,000,001 – HIGHEST 170 0.08 1,177,516,414 74.30 Total 210,811 100.00 1,584,863,882 100.00 Many private investors hold their shares through nominee companies, therefore the percentage of private holders is much higher than that shown – we estimate approximately 30%. Number of holdings Percentage of total shareholders Number of ordinary shares Percentage of ordinary shares Holders Private 202,200 95.92 285,522,151 18.02 Institutional and Corporate 8,611 4.08 1,299,341,731 81.99 Total 210,811 100.00 1,584,863,882 100.00 Corporate website Whether you are interested in learning more about our Heritage, our Social, Environmental and Ethical responsibilities, our approach to Corporate Governance or viewing our latest Press releases, the M&S corporate website provides a wealth of information for shareholders. If you have a general query regarding your shareholding, it can often be worthwhile making the ‘Investors’ section of our website your first port of call as it contains much of the information that is most frequently requested from our shareholder helpline. Shareholders are also encouraged to sign up to receive emailed news alerts, which include all financial news releases throughout the year. These are not mailed to shareholders. You can access the corporate website at marksandspencer.com/thecompany. The directors are responsible for the maintenance and integrity of the financial information on our website. This information has been prepared under the relevant accounting standards and legislation. ShareGift Do you have a small shareholding which is uneconomical to sell? You may want to consider donating it to ShareGift (Registered charity no. 1052686), a charity that specialises in donating unwanted small shareholdings to good causes. This year shareholders helped us donate £60,000, benefiting a variety of charities. You can find out more by visiting sharegift.org or by calling +44 (0)207 930 3737. Strategy Performance & Marketplace Operating review Financial review Governance Financial statements & other information To find out more visit marksandspencer.com/annualreport2011 Other information
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Annual report and financial stateme
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What’s in this report? P04 Read a
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How we’re governed Group Board Th
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05 Overview Investment in our UK bu
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07 Overview Total investment in our
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09 Overview Do Your Thing In April
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11 Overview Underlying Group profit
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13 Overview Consumer confidence ind
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Our campaigns highlight how we adap
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Lingerie and Beauty Value lingerie
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Fun fashion Our Autograph striped s
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We are never complacent and we cont
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Terribly Clever In September we lau
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Try it - then buy it In November we
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27 Overview Myleene’s Makeovers
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Made to measure Shoppers in our Sky
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31 Overview Autograph Leaves collec
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33 Overview Keeping up to date We
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35 Overview Summary of results Grou
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37 Overview Capital expenditure Yea
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39 Overview Progress has begun on s
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41 Overview What is our approach to
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43 Overview Ensuring the Board is r
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Accountability 45 Overview We belie
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47 Overview Risk description Mitiga
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Governance report Our Pensions 49 O
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Audit Committee 51 Overview Chairma
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53 Chairman’s introduction PART 1
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55 Chairman’s introduction For ex
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57 Chairman’s introduction Deputy
Page 61 and 62: 59 Chairman’s introduction Execut
Page 63 and 64: 61 Chairman’s introduction Contra
Page 65 and 66: 63 Chairman’s introduction PART 2
Page 67 and 68: 65 Chairman’s introduction Share
Page 69 and 70: 67 Chairman’s introduction Direct
Page 71 and 72: 69 Overview A special resolution wi
Page 73 and 74: 71 Overview treatment regardless of
Page 75 and 76: Independent auditors’ report to t
Page 77 and 78: 75 Consolidated statement of financ
Page 79 and 80: 77 Consolidated cash flow informati
Page 81 and 82: 79 1 Accounting policies continued
Page 83 and 84: 81 1 Accounting policies continued
Page 85 and 86: 83 3 Expense analysis Underlying £
Page 87 and 88: 85 7 Income tax expense A. Tax char
Page 89 and 90: 87 10 Employees A. Aggregate remune
Page 91 and 92: 89 11 Retirement benefits continued
Page 93 and 94: 91 12 Marks & Spencer UK Pension Sc
Page 95 and 96: 93 14 Intangible assets Goodwill £
Page 97 and 98: 95 16 Investment property Cost At s
Page 99 and 100: 97 22 Borrowings and other financia
Page 101 and 102: 99 23 Financial instruments continu
Page 103 and 104: 101 23 Financial instruments contin
Page 105 and 106: 103 25 Deferred tax Deferred tax is
Page 107 and 108: 105 29 Analysis of net debt A. Reco
Page 109 and 110: 107 Company statement of financial
Page 111: 109 C5 Investments continued B. Pri
Page 115 and 116: Index A Page Accountability 45 Acco
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