Financial Highlights

Financial Highlights  
Year to 31 March
Income Statement
2007
£m
2008
£m
2009
£m
2010
£m
2010^
£m
2011
£m
Revenue            
     Retail 410.1 484.4 629.7 748.8 710.1 962.3
     Wholesale 354.1 426.2 489.2 433.6 377.5 440.6
     Licensing 86.1 84.8 82.6 97.5 97.5 98.4
Total 850.3 995.4 1,201.5 1,279.9 1,185.1 1,501.3
             
Gross margin 521.3 617.7 665.8 804.0 761.2 1,009.7
Adjusted operating expenses (336.2) (411.5) (485.0) (584.1) (541.3) (708.6)
Adjusted operating profit * 185.1 206.2 180.8 219.9 219.9 301.1
Exceptional items (28.1) (4.5) (190.7) (48.8) (3.4) (2.2)
Operating profit/(loss) 157.0 201.7 (9.9) 171.1 216.5 298.9
Net finance income/(charge) (0.7) (6.0) (6.2) (5.1) (5.1) (3.2)
Profit/(loss) before taxation 156.3 195.7 (16.1) 166.0 211.4 295.7
Taxation (46.1) (60.5) 11.0 (83.8) (58.8) (83.2)
Discontinued operations - - - - (70.4) (6.2)
Minority interests - - (0.9) (0.8) (0.8) 2.1
Attributable profit 110.2 135.2 (6.0) 81.4 81.4 208.4
             
Per share (pence)            
Adjusted diluted EPS * 29.1 31.6 30.2 35.1 35.1 48.9
Diluted EPS 24.7 30.5 (1.4) 18.4 18.4 46.9
Dividend (declared) 10.5 12.0 12.0 14.0 14.0 20.0
Dividend (on a paid basis) 8.4 11.0 12.0 12.2 12.2 15.5
Diluted weighted average number of ordinary shares (m) 446.1 442.8 438.1 441.9 441.9 444.0
             
Cash flows            
Cash generated from operating activities 161.2 105.7 242.0 425.6 425.6 366.4
Interest received/(paid) (1.6) (7.0) (5.9) (5.0) (5.0) (3.2)
Taxation paid (45.8) (53.3) (26.3) (51.3) (51.3) (98.1)
Net cash inflow from operating activities 113.8 45.4 209.8 369.3 369.3 265.1
             
Net cash outflow from investing activities (35.7) (30.2) (90.1) (64.5) (64.5) (153.3)
Net cash outflow from financing activities (82.0) (34.6) (124.7) (94.3) (94.3) (74.3)
             
Net increase/(decrease) in cash and cash equivalents (3.9) (19.4) (5.0) 210.5 210.5 37.5
             
Balance Sheet            
Net cash/(debt) (2.8) (64.2) 7.6 262.0 262.0 297.9
Net assets 396.9 495.3 543.9 603.5 603.5 733.7

* Adjusted for exceptional items
^ 2010 re-presented to exclude discontinued Spanish operations (retail £39m; wholesale £56m). FY 2011 Spain discontinued sales are £26m retail; £23m wholesale

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