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John Lewis Partnership plc Interim Report 2009


Notes to the financial statements continued

4 Segmental reporting (continued)

IFRS 8 introduces a ‘management approach’ to identifying reportable operating segments. An operating segment is defined as a business activity whose operating results are reviewed by the chief operating decision maker (‘CODM’) and for which discrete information is available. The group’s CODM is the Partnership Board.

The group’s operating segments have been identified as John Lewis, Waitrose and Corporate and other. Corporate and other includes corporate and shared services overheads, finance transformation costs and Greenbee operations. The operating profit of each segment is after charging relevant corporate and shared service costs based on the business segments’ usage of corporate facilities and services.

John Lewis Waitrose Corporate and other Group
£m £m £m £m

Half year to 1 August 2009
Gross sales 1,208.9 2,178.2 – 3,387.1
Adjustment for sale or return sales (40.4) – – (40.4)
Value added tax (147.3) (100.2) – (247.5)

Revenue 1,021.2 2,078.0 – 3,099.2

Operating profit/(loss) excluding property profits 20.9 121.1 (15.8) 126.2
Property profits – – – –

Operating profit/(loss) 20.9 121.1 (15.8) 126.2
Finance costs – – (48.1) (48.1)
Finance income – – 8.2 8.2

Profit/(loss) before tax 20.9 121.1 (55.7) 86.3

Half year to 26 July 2008 – Restated
Gross sales 1,244.7 2,028.4 – 3,273.1
Adjustment for sale or return sales (51.7) – – (51.7)
Value added tax (173.5) (107.4) – (280.9)

Revenue 1,019.5 1,921.0 – 2,940.5

Operating profit/(loss) excluding property profits 41.0 102.0 (17.1) 125.9
Property profits 1.6 2.7 – 4.3

Operating profit/(loss) 42.6 104.7 (17.1) 130.2
Finance costs – – (27.2) (27.2)
Finance income – – 4.3 4.3

Profit/(loss) before tax 42.6 104.7 (40.0) 107.3
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