Jersey Post Annual Report and Accounts | 2012 - States Assembly
Jersey Post Annual Report and Accounts | 2012 - States Assembly
Jersey Post Annual Report and Accounts | 2012 - States Assembly
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<strong>Jersey</strong> <strong>Post</strong> <strong>Annual</strong> <strong>Report</strong> <strong>and</strong> <strong>Accounts</strong> | <strong>2012</strong><br />
Consolidated Profit <strong>and</strong> Loss Account<br />
Year Ended 31 December <strong>2012</strong><br />
Note<br />
Restated<br />
<strong>2012</strong> 2011<br />
£’000 £’000<br />
Turnover 44,247 64,868<br />
Cost of sales<br />
_______<br />
(36,550)<br />
_______<br />
(56,094)<br />
Gross profit 7,697 8,774<br />
Administrative expenses<br />
• FRS 17 Charge (1,027) (335)<br />
• Other<br />
_______<br />
(5,640)<br />
_______<br />
(6,983)<br />
(6,667) (7,318)<br />
Operating profit before exceptional costs 2 1,030 1,456<br />
Operating Exceptional Items<br />
• Restructuring costs 4 (239) (633)<br />
• Pension adjustment - 1,097<br />
_______<br />
_______<br />
Operating profit 791 1,920<br />
Interest <strong>and</strong> Dividends receivable 5 297 217<br />
Net gain on investments 6 45 -<br />
Net finance income 7 161 634<br />
_______<br />
_______<br />
Profit before taxation 1,294 2,771<br />
Taxation 8 - -<br />
_______<br />
_______<br />
Profit after taxation 1,294 2,771<br />
_______<br />
_______<br />
The basis of preparation of these financial statements is set out on page 36, <strong>and</strong> the notes on pages 36-50 form part of<br />
these financial statements.<br />
The above results are derived from continuing activities.<br />
The restatement of 2011 figures is due to a change in accounting treatment as explained in Note 15.<br />
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