Financial statements
- Independent auditors' report
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated statement of changes in shareholders' equity
- Consolidated balance sheet
- Consolidated cash flow statement
- Notes to the financial statements
- Independent auditors' report
- Company balance sheet
- Notes to the Company financial statements
Consolidated income statement
for the year ended 31 October 2011
Group |
|||
| Notes | 2011 £'000 |
2010 £'000 |
|
Revenue |
2 | 95,060 | 89,214 |
Cost of sales |
(31,222) | (28,951) | |
Gross profit |
63,838 | 60,263 | |
Administrative expenses |
(15,476) | (11,819) | |
EBITDA before exceptional items, change in fair value of derivatives, (loss)/gain on investment properties and contingent rent |
50,512 | 49,178 | |
Exceptional items |
4 | (1,332) | (280) |
Change in fair value of derivatives |
(8) | 461 | |
Depreciation and contingent rent |
(810) | (915) | |
Operating profit before (loss)/gain on investment properties |
48,362 | 48,444 | |
(Loss)/gain on investment property before exceptional item |
(16,187) | 18,472 | |
Impairment of investment property – exceptional |
(2,230) | — | |
Total (loss)/gain on investment properties |
10 | (18,417) | 18,472 |
Operating profit |
2,5 | 29,945 | 66,916 |
Finance income before exceptional item |
212 | 290 | |
Recycling of foreign exchange gains |
— | 431 | |
Change in fair value of derivatives |
1,825 | — | |
Total finance income |
3 | 2,037 | 721 |
Finance expense before exceptional items and change in fair value of derivatives |
(23,435) | (22,834) | |
Recycling of cash flow hedge – exceptional item |
— | (8,749) | |
Exceptional finance expenses |
— | (2,004) | |
Change in fair value of derivatives |
— | (4,829) | |
Total finance expense |
3 | (23,435) | (38,416) |
Profit before income tax |
8,547 | 29,221 | |
Income tax credit/(expense)1 |
7 | 4,481 | (2,881) |
Profit for the year |
13,028 | 26,340 | |
Earnings per share for profit attributable to the equity holders |
|||
– basic (pence) |
9 | 6.95 | 14.05 |
– diluted (pence) |
9 | 6.92 | 13.81 |
1 Includes an exceptional credit of £6,597,000 (FY2010: £3,478,000) (see note 7).
The financial results for both years relate to continuing activities.
The notes are an integral part of these consolidated financial statements.
