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John Lewis Partnership plc Interim Report 2009


Consolidated income statement for the half year ended 1 August 2009

Half year to 1 August 2009 Half year to 26 July 2008 Restated Year to 31 January 2009 Restated

Continuing operations £m £m £m

Gross sales 3,387.1 3,273.1 6,967.5

Revenue 3,099.2 2,940.5 6,267.2
Cost of sales (2,108.1) (1,985.2) (4,195.4)

Gross profit 991.1 955.3 2,071.8
Other operating income 27.6 22.8 45.9
Operating expenses (892.5) (847.9) (1,794.4)

Operating profit 126.2 130.2 323.3
Finance costs (48.1) (27.2) (55.1)
Finance income 8.2 4.3 11.4
Exceptional gain in respect of associate – – 127.4

Profit before Partnership bonus and tax 86.3 107.3 407.0
Partnership bonus – – (125.4)

Profit before tax 86.3 107.3 281.6
Taxation (29.3) (32.2) (48.1)

Profit for the period 57.0 75.1 233.5

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 long service leave costs, as explained in note 2.


Consolidated statement of comprehensive (expense)/income for the half year ended 1 August 2009

Half year to 1 August 2009 Half year to 26 July 2008 Year to 31 January 2009
£m £m £m

Profit for the period 57.0 75.1 233.5
Other comprehensive (expense)/income:
Actuarial loss on defined benefit pension schemes (191.9) (152.5) (280.1)
Movement of deferred tax on pension schemes 53.7 42.7 78.5
Net (loss)/gain on cash flow hedges (9.6) 0.1 7.0

Total comprehensive (expense)/income for the period (90.8) (34.6) 38.9 Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24