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Page 7


Five year record – years ended January

2010 2009* 2008 Restated(3) 2007 Restated(3) 2006 Restated(3)
£m £m £m £m £m

Gross sales (including sale or return sales and VAT) 7,421.5 6,967.5 6,762.8 6,362.3 5,764.4

Revenue
John Lewis 2,417.4 2,327.1 2,315.0 2,188.9 1,990.4
Waitrose 4,317.2 3,940.1 3,737.2 3,497.3 3,158.9

Revenue 6,734.6 6,267.2 6,052.2 5,686.2 5,149.3

Operating profit(1)(3)
John Lewis 165.9 145.9 197.5 169.3 109.1
Waitrose 268.4 214.5 226.2 170.6 168.9
Group costs(2) (44.6) (37.1) (32.4) – –
Operating profit 389.7 323.3 391.3 339.9 278.0

Net finance costs(3) (83.1) (43.7) (11.5) (19.8) (31.4)
Share of post tax losses of associate (Ocado) – – (8.0) (18.0) (5.6)
Exceptional gain in respect of associate (Ocado) – 127.4 8.0 18.0 10.8

Profit before Partnership bonus and tax 306.6 407.0 379.8 320.1 251.8
Taxation (48.8) (48.1) (59.4) (56.9) (42.5)

Net profit available for profit sharing and retention in the business 257.8 358.9 320.4 263.2 209.3
Partnership bonus (151.3) (125.4) (181.1) (154.1) (120.3)
As a percentage of pay 15% 13% 20% 18% 15%
Discontinued operations – – (9.1) (0.7) –
Profit for the year retained in the business 106.5 233.5 130.2 108.4 89.0

Net assets 1,704.5 1,722.8 1,683.9 1,649.9 1,512.2

Pay 940.4 908.0 864.8 817.6 755.0

Average number of employees 70,000 68,700 68,200 66,800 63,700
including part-time employees 37,300 35,900 36,700 35,900 33,600
Average number of FTEs 45,900 45,100 44,900 43,900 42,200

*53 week year.

(1) Divisional operating profit is after charging relevant corporate costs based on the business segments’ usage of corporate facilities and services. The basis of allocation has been revised and divisional operating profits for 2008 have been amended accordingly. 2006 and 2007 have not been restated to reflect corporate cost allocations.
(2) Group costs include corporate overheads, finance transformation costs, Greenbee investment, and Partnership Services.
(3) Operating profit and finance costs have been restated in respect of the financing element of long service leave costs, as explained in note 1 of the notes to the accounts. 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  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84
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