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Wolseley Annual Report 2009
Group income statement
Year ended 31 July 2009
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| Notes | 2009 Before exceptional items £m |
2009 Exceptional items (note 4) £m |
2009 Total £m |
2008 Before exceptional items (restated) £m |
2008 Exceptional items (restated) (note 4) £m |
2008 Total (restated) £m |
|
|---|---|---|---|---|---|---|---|
| Continuing operations | |||||||
| Revenue | 2 | 14,441 | – | 14,441 | 14,814 | – | 14,814 |
| Cost of sales | (10,436) | (28) | (10,464) | (10,632) | (1) | (10,633) | |
| Gross profit | 4,005 | (28) | 3,977 | 4,182 | (1) | 4,181 | |
| Distribution costs | (2,831) | (266) | (3,097) | (2,738) | (61) | (2,799) | |
| Administrative expenses: | |||||||
| amortisation of acquired intangibles | (105) | – | (105) | (105) | – | (105) | |
| impairment of acquired intangibles | (490) | – | (490) | (57) | – | (57) | |
| other | (743) | (164) | (907) | (693) | (8) | (701) | |
| Administrative expenses: total | (1,338) | (164) | (1,502) | (855) | (8) | (863) | |
| Other income | 16 | – | 16 | 36 | – | 36 | |
| Operating (loss)/profit | 2, 3 | (148) | (458) | (606) | 625 | (70) | 555 |
| Finance revenue | 5 | 72 | – | 72 | 72 | – | 72 |
| Finance costs | 6 | (217) | – | (217) | (228) | – | (228) |
| Share of after tax loss of associate | 7 | (9) | (6) | (15) | – | – | – |
| (Loss)/profit before tax | (302) | (464) | (766) | 469 | (70) | 399 | |
| Tax income/(expense) | 8 | (72) | 106 | 34 | (182) | 25 | (157) |
| (Loss)/profit from continuing operations | (374) | (358) | (732) | 287 | (45) | 242 | |
| Loss from discontinued operations | 9 | (265) | (176) | (441) | (164) | (4) | (168) |
| (Loss)/profit for the year attributable to equity shareholders | (639) | (534) | (1,173) | 123 | (49) | 74 | |
| (Loss)/earnings per share | 11 | ||||||
| Continuing operations and discontinued operations | |||||||
| Basic (loss)/earnings per share | (558.0)p | 41.0p | |||||
| Diluted (loss)/earnings per share | (558.0)p | 40.9p | |||||
| Continuing operations only | |||||||
| Basic (loss)/earnings per share | (348.2)p | 134.0p | |||||
| Diluted (loss)/earnings per share | (348.2)p | 133.8p | |||||
| Non-GAAP measures of performance | 11, 12 | ||||||
| Continuing operations only | |||||||
| Trading profit | 447 | 787 | |||||
| Profit before tax, exceptional items and the amortisation and impairment of acquired intangibles | 293 | 631 | |||||
| Basic earnings per share before exceptional items and the amortisation and impairment of acquired intangibles | 95.6p | 240.3p | |||||
| Diluted earnings per share before exceptional items and the amortisation and impairment of acquired intangibles | 95.5p | 239.9p |
The income statement for 2008 has been restated to present Stock Building Supply as a discontinued operation.
The accompanying notes are an integral part of these consolidated financial statements.