Group five-year summary
| Income statement | 52-week period to 26 February 2011 £m |
52-week period to 27 February 2010 £m |
52-week period to 28 February 2009 £m |
52-week period to 1 March 2008 £m |
52-week pro forma to 3 March 2007 £m |
|---|---|---|---|---|---|
| Argos | 4,194.3 | 4,346.8 | 4,281.9 | 4,320.9 | 4,164.0 |
| Homebase | 1,550.7 | 1,571.9 | 1,513.2 | 1,568.5 | 1,594.2 |
| Financial Services | 106.9 | 104.0 | 102.3 | 95.4 | 93.2 |
| Sales | 5,851.9 | 6,022.7 | 5,897.4 | 5,984.8 | 5,851.4 |
| Argos | 219.0 | 266.2 | 303.6 | 376.2 | 325.0 |
| Homebase | 47.6 | 41.2 | 14.9 | 45.1 | 53.4 |
| Financial Services | 6.0 | 5.7 | 6.1 | 5.5 | 5.0 |
| Central Activities | (21.8) | (23.4) | (24.2) | (28.8) | (24.0) |
| Benchmark operating profit | 250.8 | 289.7 | 300.4 | 398.0 | 359.4 |
| Net financing income | 3.2 | 5.2 | 29.7 | 33.3 | 16.6 |
| Share of post-tax profit/(loss) of joint ventures and associates | 0.1 | (2.0) | (2.4) | 1.6 | 0.7 |
| Benchmark PBT | 254.1 | 292.9 | 327.7 | 432.9 | 376.7 |
| Statistics | |||||
|---|---|---|---|---|---|
| Argos | 52-week period to 26 February 2011 |
52-week period to 27 February 2010 |
52-week period to 28 February 2009 |
52-week period to 1 March 2008 |
52-week pro forma to 3 March 2007 |
| Like-for-like change in sales | (5.6%) | (2.1%) | (4.8%) | 0.7% | 2.4% |
| Net space contribution to sales change | 2.1% | 3.6% | 3.9% | 3.1% | 5.5% |
| Total sales change | (3.5%) | 1.5% | (0.9%) | 3.8% | 7.9% |
| Number of stores at year-end | 751 | 745 | 730 | 707 | 680 |
| Homebase | |||||
| Like-for-like change in sales | (0.3%) | 2.7% | (10.2%) | (4.1%) | (1.4%) |
| Net space contribution to sales change | (1.1%) | 1.2% | 6.7% | 2.5% | 3.6% |
| Total sales change | (1.4%) | 3.9% | (3.5%) | (1.6%) | 2.2% |
| Number of stores at year-end | 341 | 349 | 345 | 331 | 310 |
| Of which contain a mezzanine floor | 186 | 190 | 188 | 181 | 165 |
| Financial Services | |||||
| Store card gross receivables (£m) | 530 | 497 | 488 | 482 | 448 |
| Balance sheet | 26 February 2011 £m |
27 February 2010 £m |
28 February 2009 £m |
1 March 2008 £m |
3 March 2007 £m |
|---|---|---|---|---|---|
| Invested capital | 2,512.8 | 2,377.7 | 2,435.5 | 3,138.0 | 3,014.0 |
| Retirement benefit (obligations)/assets | (7.5) | (24.9) | (46.4) | 83.7 | 9.3 |
| Net tax assets/(liabilities) | 4.6 | 52.1 | 32.7 | (52.0) | (2.6) |
| Derivative financial instruments | (28.0) | 47.7 | 52.2 | 1.5 | (2.2) |
| Financing net cash | 259.3 | 414.0 | 284.4 | 174.0 | 60.2 |
| Reported net assets | 2,741.2 | 2,866.6 | 2,758.4 | 3,345.2 | 3,078.7 |
| Benchmark pre-tax return on invested capital | 52-week period to 26 February 2011 £m |
52-week period to 27 February 2010 £m |
52-week period to 28 February 2009 £m |
52-week period to 1 March 2008 £m |
52-week pro forma to 3 March 2007 £m |
|---|---|---|---|---|---|
| Benchmark operating profit | 250.8 | 289.7 | 300.4 | 398.0 | 359.4 |
| Share of post-tax profit/(loss) of joint ventures and associates | 0.1 | (2.0) | (2.4) | 1.6 | 0.7 |
| Benchmark pre-tax return | 250.9 | 287.7 | 298.0 | 399.6 | 360.1 |
| Benchmark pre-tax return on invested capital | 10.0% | 12.1% | 12.2% | 12.7% | 11.9% |
| Earnings and dividends | 52-week period to 26 February 2011 |
52-week period to 27 February 2010 |
52-week period to 28 February 2009 |
52-week period to 1 March 2008 |
52-week pro forma to 3 March 2007 |
|---|---|---|---|---|---|
| Basic benchmark EPS | 21.3p | 23.4p | 25.9p | 33.9p | 29.3p |
| Dividends per share (interim paid and final proposed) | 14.7p | 14.7p | 14.7p | 14.7p | 13.0p |
| Dividend cover | 1.45x | 1.59x | 1.76x | 2.31x | 2.25x |
The change in both the year-end and the Group’s capital structure on demerger in 2006 resulted in statutory reported results that are non-comparable. To assist with analysis and comparison, certain pro forma information has therefore been provided in respect of the comparative periods to eliminate the distortions of these two impacts on the performance of the Group.
