Notes to the financial statements

continued

4 Segmental reporting (continued)

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

Half year to 30 July 2011

Gross sales 2,633.1 1,419.0 – 4,052.1

Adjustment for sale or return sales – (56.5) – (56.5)

Value added tax (158.2) (221.5) – (379.7)

Revenue 2,474.9 1,141.0 – 3,615.9

Operating profit excluding property profits 110.2 15.8 (14.5) 111.5

Property profits – – – –

Operating profit 110.2 15.8 (14.5) 111.5

Finance costs – – (37.7) (37.7)

Finance income – – 16.6 16.6

Profit before tax 110.2 15.8 (35.6) 90.4

Half year to 31 July 2010

Gross sales 2,423.4 1,384.7 – 3,808.1

Adjustment for sale or return sales – (51.0) – (51.0)

Value added tax (132.1) (193.2) – (325.3)

Revenue 2,291.3 1,140.5 – 3,431.8

Operating profit excluding property profits 127.8 34.7 (17.3) 145.2

Property profits – – – –

Operating profit 127.8 34.7 (17.3) 145.2

Finance costs – – (37.1) (37.1)

Finance income – – 2.4 2.4

Profit before tax 127.8 34.7 (52.0) 110.5

The comparatives have been re-presented in respect of John Lewis Insurance operations to be on a consistent basis to the current year.