Download our latest Annual Report - Bakkavor
Download our latest Annual Report - Bakkavor
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BAKKAVOR ANNUAL REPORT AND ACCOUNTS 2012<br />
notes to the consolidated financial statements<br />
continued<br />
4<br />
SEGMENT INFORMATION CONTINUED<br />
The following table provides an analysis of the Group’s segment information for the period to 31 December 2011 as restated:<br />
£m UK International Un-allocated Group total Discontinued Continuing<br />
operations operations total<br />
Revenue 1,387.8 289.9 – 1,677.7 111.9 1,565.8<br />
Segment profit/(loss) 59.4 (5.0) – 54.4 (2.1) 56.5<br />
Exceptional items 8.5 (1.3) – 7.2 (0.2) 7.4<br />
Impairment of assets (37.3) (39.6) – (76.9) (13.2) (63.7)<br />
<strong>Bakkavor</strong> Group ehf management charge (1.2) – (1.2)<br />
Loss on disposal of subsidiary (1.0) – (1.0)<br />
Loss on disposal of associate (1.6) – (1.6)<br />
Loss on disposal of property, plant and equiptment (0.3) – (0.3)<br />
Share of results of associates 1.1 – 1.1<br />
Operating loss (18.3) (15.5) (2.8)<br />
Investment revenue 0.1 – 0.1<br />
Finance costs (65.2) (0.2) (65.0)<br />
Other gains (net) 6.0 – 6.0<br />
Loss before tax (77.4) (15.7) (61.7)<br />
Tax 2.4 (0.1) 2.5<br />
Loss for the period (75.0) (15.8) (59.2)<br />
Other segment information:<br />
Depreciation and amortisation (41.2) (12.1) – (53.3) (4.3) (49.0)<br />
Adjusted EBITDA 100.6 7.1 – 107.7 2.2 105.5<br />
Capital additions 31.6 4.9 – 36.5 1.5 35.0<br />
Total assets 1,082.4 189.8 40.8 1,313.0 42.7 1,270.3<br />
Discontinued operations relate to the Group’s International segment.<br />
The effect of reclassifying certain overseas operations on revenue and adjusted EBITDA for 2011 is £19.6 million and £0.2 million profit respectively<br />
which reduces the UK segment and increases the International segment by these amounts.<br />
Major customers<br />
In 2012 the Group’s five largest customers accounted for 80% (2011: 80%) of <strong>our</strong> total revenue from continuing operations, with no single customer<br />
representing more than 31% (2011: 30%) of <strong>our</strong> global revenue from continuing operations. The Group does not enter into long-term contracts with<br />
its retail customers.<br />
5<br />
REVENUE<br />
52 weeks 52 weeks<br />
ended ended<br />
29 December 31 December<br />
£m 2012 2011<br />
Continuing operations<br />
Sales of goods 1,588.6 1,565.8<br />
Investment revenue 0.1 0.1<br />
1,588.7 1,565.9<br />
Discontinued operations<br />
Sales of goods (note 14) 105.6 111.9<br />
PAGE 69 VIEW THE FULL REPORT AT ANNUALREPORT12.BAKKAVOR.COM
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