Tesco 2000 Annual Report Download - page 20

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TESCO PLC
18
2000 1999
note £m £m
Sales at net selling prices 120,358 18,546
Value added tax (1,562) (1,388)
Turnover excluding value added tax 1/2 18,796 17,158
Operating expenses
– Normal operating expenses (17,712) (16,155)
– Employee profit-sharing 3(41) (38)
– Integration costs 2(6) (26)
– Goodwill amortisation 11 (7) (5)
Operating profit 1/2 1,030 934
Net loss on disposal of fixed assets (9) (8)
Share of operating profit of joint ventures 111 6
Profit on ordinary activities before interest 1,032 932
Net interest payable 7(99) (90)
Profit on ordinary activities before taxation 4933 842
Profit before integration costs, net loss on disposal
of fixed assets and goodwill amortisation 955 881
Integration costs (6) (26)
Net loss on disposal of fixed assets (9) (8)
Goodwill amortisation (7) (5)
Tax on profit on ordinary activities 8(259) (237)
Profit on ordinary activities after taxation 674 605
Minority interest –1
Profit for the financial year 674 606
Dividends 9(302) (277)
Retained profit for the financial year 24 372 329
Pence Pence
Earnings per share 10 10.07 9.14
Adjusted for integration costs after taxation 0.06 0.27
Adjusted for net loss on disposal of fixed assets after taxation 0.13 0.12
Adjusted for goodwill amortisation 0.10 0.06
Adjusted earnings per share 10 10.36 9.59
Diluted earnings per share 10 9.89 8.93
Adjusted for integration costs after taxation 0.06 0.26
Adjusted for net loss on disposal of fixed assets after taxation 0.13 0.12
Adjusted for goodwill amortisation 0.10 0.06
Adjusted diluted earnings per share 10 10.18 9.37
Dividend per share 94.48 4.12
Dividend cover (times) 2.27 2.27
Accounting policies and notes forming part of these financial statements are on pages 22 to 39.
group profit and loss account
52 weeks ended 26 February 2000