Annual report 2010 - Imperial Tobacco Group

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Consolidated Income Statementfor the year ended 30 September 2010Strategy Performance Governance FinancialsYear ended30 September2010Year ended30 September2009£ million unless otherwise indicated NotesRevenue 1 28,173 26,517Duty and similar items (13,155) (11,769)Other cost of sales (9,563) (9,432)Cost of sales (22,718) (21,201)Gross profit 5,455 5,316Distribution, advertising and selling costs (2,001) (1,979)Administrative and other expenses (926) (1,000)Operating profit 1 2,528 2,337Investment income 5 844 1,180Finance costs 5 (1,254) (2,572)Net finance costs 5 (410) (1,392)Profit before taxation 2 2,118 945Taxation 6 (596) (268)Profit for the year 1,522 677Attributable to:Owners of the parent 1,505 663Non-controlling interests 17 14Earnings per ordinary share (pence)– Basic 8 148.5 65.5– Diluted 8 148.0 65.3All activities derive from continuing operations.98
Consolidated Statement ofComprehensive Incomefor the year ended 30 September 2010Year ended30 September2010Year ended30 September2009£ millionProfit for the year 1,522 677Other comprehensive incomeExchange movements (174) 709Tax effect of exchange movements (9) (112)Net actuarial losses on retirement benefits (111) (582)Deferred tax relating to net actuarial losses on retirement benefits 19 173Other comprehensive (loss)/income for the year, net of tax (275) 188Total comprehensive income for the year 1,247 865Attributable to:Owners of the parent 1,229 845Non-controlling interests 18 20Total comprehensive income for the year 1,247 865Reconciliation from operating profit to adjusted operating profitYear ended30 September2010Year ended30 September2009£ million NotesOperating profit 2,528 2,337Acquisition accounting adjustments 29 24 –Amortisation of acquired intangibles 451 451Restructuring costs 3 64 145Adjusted operating profit 3,067 2,933Reconciliation from net finance costs to adjusted net finance costsYear ended30 September2010Year ended30 September2009£ million NotesNet finance costs (410) (1,392)Fair value (gains)/losses on derivative financial instruments providingcommercial hedges 5 (210) 660Post-employment benefits net financing cost 5 20 32Adjusted net finance costs (600) (700)99
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Imperial Tobacco Group PLCAnnual Re
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…to deliver sustainableshareholde
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Operational HighlightsDelivering Su
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and product portfolio to evolving c
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In this section9 Strategic Review10
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Our StrategyWe are focused on deliv
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Total Tobacco5 % Our Powerful Brand
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Our global strategic cigarette bran
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Our global team is fully aligned be
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Satisfying consumers and aligning o
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We are a responsive business with s
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Operating responsibly, combined wit
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Our growth drivers of sales growth,
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Principal Risks and UncertaintiesA
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Competition LawOverviewWe take comp
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Reconciliation of Adjusted Performa
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Key Performance Indicators (KPIs) 1
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Lambert & Butler and Richmond remai
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Within this the travel retail marke
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OutlookThe strength of our portfoli
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Blondes. In the Middle East, we aga
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Corporate ResponsibilityOur Corpora
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Corporate Responsibility and our St
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We have revised our IMS and employe
Page 49 and 50: Environmental Performance 1Absolute
Page 51 and 52: across the business. More informati
Page 53 and 54: Supplier RelationshipsOur main supp
Page 55 and 56: Non-financial performance indicator
Page 57 and 58: “High standards of corporategover
Page 59 and 60: 5. Pierre Jungels, CBE (HON), PHD,
Page 61 and 62: Management and Corporate StructureB
Page 63 and 64: Meetings of the Board, Board Commit
Page 65 and 66: and supplemented by our Non-Executi
Page 67 and 68: 6 Performance evaluation: How do we
Page 69 and 70: The Board recognises that we operat
Page 71 and 72: Assurance process for financial rep
Page 73 and 74: - receiving reports from, and quest
Page 75 and 76: Directors’ Report: Other Informat
Page 77 and 78: - state whether IFRSs as adopted by
Page 79 and 80: We understand that a purported coll
Page 81 and 82: This Report covers the following:1
Page 83 and 84: 2 Directors’ Emoluments for the Y
Page 85 and 86: Directors’ Interests in Ordinary
Page 87 and 88: Executive Directors’ Service Agre
Page 89 and 90: When setting base salary the Remune
Page 91 and 92: First ElementFifty per cent of the
Page 93 and 94: In respect of the October 2007 - Oc
Page 95 and 96: Any annual bonus earned up to 100 p
Page 97 and 98: Benefit Trusts have also been provi
Page 99: Independent Auditors’ Reportto th
Page 103 and 104: Consolidated Statement of Changes i
Page 105 and 106: Accounting PoliciesBasis of Prepara
Page 107 and 108: Duty and Similar ItemsDuty and simi
Page 109 and 110: InventoriesInventories are stated a
Page 111 and 112: Restructuring CostsSignificant one-
Page 113 and 114: Property, Plant and Equipment and I
Page 115 and 116: Tobacco net revenue£ million 2010
Page 117 and 118: 3 Restructuring Costs£ million 201
Page 119 and 120: Factors affecting the tax charge fo
Page 121 and 122: 9 Intangible Assets2010£ million G
Page 123 and 124: 10 Property, Plant and Equipment201
Page 125 and 126: 13 Trade and Other Receivables2010
Page 127 and 128: Sensitivity analysisIFRS 7 requires
Page 129 and 130: At 30 September 2009Balance sheetam
Page 131 and 132: (iii) Currency analysis and effecti
Page 133 and 134: (iv) Derivative financial instrumen
Page 135 and 136: Matures in financial year ending in
Page 137 and 138: The following tables are provided i
Page 139 and 140: Matures in financial year ending in
Page 141 and 142: (vi) Hedge of net investments in fo
Page 143 and 144: 18 Retirement Benefit SchemesThe Gr
Page 145 and 146: Assumptions regarding future mortal
Page 147 and 148: 21 Share SchemesThe Group recognise
Page 149 and 150: Year from 1 October 2008 to 30 Sept
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23 CommitmentsCapital commitments£
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27 Reconciliation of Cash Flow to M
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Imperial Tobacco Group PLC Balance
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(iii) Debtors: Amounts Falling Due
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Principal SubsidiariesThe principal
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Shareholder InformationRegistered O
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IndexAAccounting Policies 103Acquis
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Annual report 2010 - Imperial Tobacco Group

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