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John Lewis Partnership plc Interim Report 2009


4 Segmental reporting (continued)

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

Year to 31 January 2009 – Restated
Gross sales 2,811.1 4,156.4 – 6,967.5
Adjustment for sale or return sales (109.0) – – (109.0)
Value added tax (375.0) (216.3) – (591.3)

Revenue 2,327.1 3,940.1 – 6,267.2

Operating profit/(loss) excluding property profits 144.3 211.5 (37.1) 318.7
Property profits 1.6 3.0 – 4.6

Operating profit/(loss) 145.9 214.5 (37.1) 323.3
Finance costs – – (54.9) (54.9)
Finance income – – 11.2 11.2
Exceptional gain in respect of associate – – 127.4 127.4
Partnership bonus – – (125.4) (125.4)

Profit/(loss) before tax 145.9 214.5 (78.8) 281.6

1 August 2009
Segment assets 1,545.7 2,255.6 592.5 4,393.8
Segment liabilities (311.5) (483.5) (1,966.8) (2,761.8)

Net assets 1,234.2 1,772.1 (1,374.3) 1,632.0

26 July 2008
Segment assets 1,506.6 1,987.4 325.2 3,819.2
Segment liabilities (329.3) (407.3) (1,433.3) (2,169.9)

Net assets 1,177.3 1,580.1 (1,108.1) 1,649.3

31 January 2009
Segment assets 1,516.6 2,123.2 400.6 4,040.4
Segment liabilities (330.4) (419.2) (1,568.0) (2,317.6)

Net assets 1,186.2 1,704.0 (1,167.4) 1,722.8

The presentation of prior half year results has been restated in respect of the financing element of pension costs and the presentation of prior half year and prior full year results has been restated in respect of the financing element of other employee benefit schemes (long service leave), as explained in note 2.
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