Tesco 2012 Annual Report Download - page 94

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Group income statement
Year ended 25 February 2012 notes
52 weeks
2012
£m
52 weeks
2011*
£m
Continuing operations
Revenue 264,539 60,455
Cost of sales (59,278) (55,330)
Gross profit 5,261 5,125
Administrative expenses (1,652) (1,640)
Profits/losses arising on property-related items 376 432
Operating profit 3,985 3,917
Share of post-tax profits of joint ventures and associates 13 91 57
Finance income 5176 150
Finance costs 5(417) (483)
Profit before tax 33,835 3,641
Taxation 6(879) (864)
Profit for the year from continuing operations 2,956 2,777
Discontinued operations
Loss for the year from discontinued operations 7(142) (106)
Profit for the year 2,814 2,671
Attributable to:
Owners of the parent 2,806 2,655
Non-controlling interests 8 16
2,814 2,671
Earnings per share from continuing and discontinued operations
Basic 934.98p 33.10p
Diluted 934.88p 32.94p
Earnings per share from continuing operations
Basic 936.75p 34.43p
Diluted 936.64p 34.25p
Non-GAAP measure: underlying profit before tax
notes
52 weeks
2012
£m
52 weeks
2011*
£m
Profit before tax from continuing operations 3,835 3,641
Adjustments for:
IAS 32 and IAS 39 ‘Financial Instruments’ – fair value remeasurements 1/5 (44) (19)
IAS 19 ‘Employee Benefits’ – non-cash Group Income Statement charge for pensions 117 113
IAS 17 ‘Leases’ – impact of annual uplifts in rent and rent-free periods 138 48
IFRS 3 ‘Business Combinations’ – intangible asset amortisation charges and costs arising from acquisitions 122 42
IFRIC 13 ‘Customer Loyalty Programmes’ – fair value of awards 117 8
Restructuring and other one-off costs 130 20
Underlying profit before tax from continuing operations 13,915 3,853
* See Note 1 Accounting policies for details of reclassifications.
The notes on pages 95 to 141 form part of these financial statements.
90 Tesco PLC Annual Report and Financial Statements 2012