Issue of equity shares - 0.3 - - - - 0.3
Credit to equity for
equity-settled
share-based payments - - - - - 0.5 0.5
Shares transferred to employees
on vesting - - - 6.9 - (6.9) -
Dividends paid - - - - - (11.9) (11.9)
Balance at 31 March 2012 44.3 6.2 50.8 (2.1) - (26.5) 72.7
---------------------------------- --------- --------- ------------ --------- ------------ ---------- ---------
For the 52 weeks ended 26 March 2011
Equity attributable to equity holders of
the parent
-------------------------------------------------------------------------------------
Share Share Other Own Translation Retained Total
capital premium reserve(1) shares reserve earnings equity
account
GBP GBP GBP GBP GBP million GBP GBP million
million million million million million
------------------------------- --------- --------- ------------ --------- ------------ ---------- ------------
Balance at 28 March 2010 44.1 4.9 50.8 (8.9) 1.3 96.2 188.4
Total comprehensive income
for the period - - - - (1.2) 18.7 17.5
Issue of equity shares 0.2 1.0 - - - - 1.2
Credit to equity for
equity-settled
share-based payments - - - - - 2.6 2.6
Purchase of own shares - - - (1.4) - - (1.4)
Shares transferred to
employees on vesting - - - 1.3 - (1.3) -
Dividends paid - - - - - (15.5) (15.5)
Balance at 26 March 2011 44.3 5.9 50.8 (9.0) 0.1 100.7 192.8
------------------------------- --------- --------- ------------ --------- ------------ ---------- ------------
(1) The other reserve relates to shares issued as consideration for the acquisition of Early Learning Centre on 19 June 2007.
Consolidated cash flow statement
For the 53 weeks ended 31 March 2012
53 weeks ended 52 weeks ended
31 March 2012 26 March 2011
GBP million GBP million
-------------------------------------------- --------------- ---------------
Net cash flow from operating activities
(see note 8) 5.6 27.1
-------------------------------------------- --------------- ---------------
Cash flows from investing activities
Interest received 0.9 0.1
Purchase of property, plant and
equipment (21.7) (16.6)
Purchase of intangibles - software (3.2) (5.2)
Purchase of intangibles - other - (3.1)
Proceeds from sale of property,
plant and equipment 2.3 3.3
Investments in joint ventures and
associates (5.7) (10.5)
Net cash used in investing activities (27.4) (32.0)
-------------------------------------------- --------------- ---------------
Cash flows from financing activities
Interest paid (1.3) (0.6)
New bank loans raised 20.0 -
Equity dividends paid (11.9) (15.5)
Issue of ordinary share capital 0.3 1.2
Purchase of own shares - (1.4)
Net cash raised/(used) in financing
activities 7.1 (16.3)
Net decrease in cash and cash equivalents (14.7) (21.2)
-------------------------------------------- --------------- ---------------
Cash and cash equivalents at beginning
of period 15.3 38.5
Effect of foreign exchange rate
changes (0.7) (2.0)
Net (debt)/cash and cash equivalents
at end of period (0.1) 15.3
-------------------------------------------- --------------- ---------------
Notes
1. General information
a) The accounting policies followed are the same as those published by the group within the 2011 annual report.
b) Whilst the financial information included in this preliminary announcement has been prepared in accordance with IFRS as endorsed by the European Union, this announcement does not itself contain sufficient information to comply with all the disclosure requirements of IFRS.
c) The company believes that underlying profit before tax and underlying earnings provides additional useful information for shareholders. The term underlying earnings is not a defined term under IFRS and may not therefore be comparable with similarly titled profit measurements reported by other companies. It is not intended to be a substitute for IFRS measures of profit. As the company has chosen to present an alternative earnings per share measure, a reconciliation of this alternative measure to the statutory measure required by IFRS is given in note 7.
d) The financial information set out in this announcement does not constitute the company's statutory accounts for the 53 week period ended 31 March 2012 or the 52 week period ended 26 March 2011, but it is derived from those accounts. Statutory accounts for 2011 have been delivered to the Registrar of Companies and those for 2012 will be delivered following the company's annual general meeting. The auditors have reported on those accounts; their reports were unqualified, did not draw attention to any matters by way of emphasis without qualifying their report and did not contain statements under s498 (2) or (3) Companies Act 2006.
2. Segmental information
UK comprises the group's UK store and wholesale operations, catalogue and web sales. The International business comprises the group's franchise and wholesale revenues outside the UK. The unallocated corporate expenses represent board and company secretarial costs and other head office costs including audit, professional fees, insurance and head office property.
53 weeks ended 31 March 2012
-----------------------------------------------------------
Unallocated
corporate
UK International expenses Consolidated
GBP million GBP million GBP million GBP million
----------------------------------- ------------ --------------- ------------ --------------
Revenue
External sales 560.0 252.7 - 812.7
----------------------------------- ------------ --------------- ------------ --------------
Result
Segment result (underlying) (24.7) 34.9 (7.6) 2.6
----------------------------------- ------------ --------------- ------------
Share-based payments (underlying) (0.6)
Non-cash foreign currency
adjustments 2.0
Amortisation of intangible
assets (2.0)
Exceptional items (104.4)
----------------------------------- ------------ --------------- ------------ --------------
Loss from operations (102.4)
Net finance costs (0.5)
------------------------------------------------- --------------- ------------ --------------
Loss before taxation (102.9)
Taxation 11.1
Loss for the period (91.8)
------------------------------------------------- --------------- ------------ --------------
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