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We continued to grow strongly with 25 new stores in the UK, including three new convenience format stores, together these openings added 390,000 sq ft of new selling space. Our online service Waitrose Deliver is now available in 129 branches. This is growing in parallel with Ocado, with whom Waitrose has a supply relationship. During the year we entered into a strategic partnership with Welcome Break and commenced trials with Shell, further extending the reach of the Waitrose brand.
Operating profit, excluding profits from the disposal of surplus land, grew by 26.8% to £268.2m. Including property disposals, operating profit increased by 25.1% to £268.4m. Operating profit per square foot was up by 16.4%, to £63 and operating profit per FTE increased by 21.3% to £11,400.
(Photo captioned: Our partnership with Welcome Break service stations further extends the reach of the Waitrose brand)
(Graph of Waitrose Operating profit (£m)(1))
(Graph of Waitrose Operating profit per square foot (selling space) (£)(1))
(Graph of Waitrose Operating profit per FTE (£000)(1))
(1) Operating profit is after charging relevant corporate costs based on the business segments’ usage of corporate facilities and services. The basis of allocation was revised in 2009 and operating profit for 2008 was amended accordingly. Earlier years have not been restated. Operating profit for 2009 and earlier years has been restated in respect of the financing element of long service costs, as explained in note 1 of the accounts.