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.