As explained in Note 1, adjusted information is presented as it provides both management and investors with valuable additional information on the performance of the business. The following items are excluded from adjusted information:
- exceptional items including profits and losses on disposals of businesses, impairments, and closure and restructuring provisions; and
- amortisation of intangibles acquired through business combinations.
The following table shows the reconciliation of the statutory information presented in the income statement to the adjusted information:
| (XLS:) Download Excel |
|
|
Year to 31 March 2011 |
Year to 31 March 2010 | ||||
|
£m (unless otherwise stated) |
Reported |
Exceptional/ amortisation |
Adjusted |
Reported |
Exceptional/ amortisation |
Adjusted |
|
Continuing operations |
|
|
|
|
|
|
|
Sales |
2 720 |
– |
2 720 |
2 533 |
– |
2 533 |
|
Operating profit/(loss) |
303 |
18 |
321 |
(44) |
312 |
268 |
|
Net finance expense |
(58) |
– |
(58) |
(72) |
– |
(72) |
|
Profit/(loss) before tax |
245 |
18 |
263 |
(116) |
312 |
196 |
|
Income tax (expense)/credit |
(49) |
– |
(49) |
95 |
(136) |
(41) |
|
Non-controlling interests |
– |
– |
– |
– |
– |
– |
|
Profit/(loss) attributable to equity holders of the Company |
196 |
18 |
214 |
(21) |
176 |
155 |
|
|
|
|
|
|
|
|
|
Basic EPS (pence) |
42.6 |
3.9 |
46.5 |
(4.7) |
38.6 |
33.9 |
|
Diluted EPS (pence) |
41.9 |
3.8 |
45.7 |
(4.7) |
38.4 |
33.7 |
|
Tax rate |
19.7% |
|
18.5% |
81.9% |
|
20.8% |
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
Sales |
590 |
– |
590 |
1 074 |
– |
1 074 |
|
Operating (loss)/profit |
(45) |
43 |
(2) |
50 |
(22) |
28 |
|
Net finance income |
– |
– |
– |
1 |
– |
1 |
|
(Loss)/profit before tax |
(45) |
43 |
(2) |
51 |
(22) |
29 |
|
Income tax credit/(expense) |
16 |
(19) |
(3) |
(11) |
5 |
(6) |
|
Non-controlling interests |
(4) |
– |
(4) |
(4) |
– |
(4) |
|
(Loss)/profit attributable to equity holders of the Company |
(33) |
24 |
(9) |
36 |
(17) |
19 |
|
|
|
|
|
|
|
|
|
Basic EPS (pence) |
(7.3) |
5.4 |
(1.9) |
8.0 |
(3.7) |
4.3 |
|
Diluted EPS (pence) |
(7.2) |
5.3 |
(1.9) |
8.0 |
(3.7) |
4.3 |
|
|
|
|
|
|
|
|
|
Total operations |
|
|
|
|
|
|
|
Sales |
3 310 |
– |
3 310 |
3 607 |
– |
3 607 |
|
Operating profit |
258 |
61 |
319 |
6 |
290 |
296 |
|
Net finance expense |
(58) |
– |
(58) |
(71) |
– |
(71) |
|
Profit/(loss) before tax |
200 |
61 |
261 |
(65) |
290 |
225 |
|
Income tax (expense)/credit |
(33) |
(19) |
(52) |
84 |
(131) |
(47) |
|
Non-controlling interests |
(4) |
– |
(4) |
(4) |
– |
(4) |
|
Profit attributable to equity holders of the Company |
163 |
42 |
205 |
15 |
159 |
174 |
|
|
|
|
|
|
|
|
|
Basic EPS (pence) |
35.3 |
9.3 |
44.6 |
3.3 |
34.9 |
38.2 |
|
Diluted EPS (pence) |
34.7 |
9.1 |
43.8 |
3.3 |
34.7 |
38.0 |
|
Tax rate |
16.4% |
|
19.7% |
129.2% |
|
20.9% |