Morrisons AR2011 | Five year summary of results

Five year summary of results

	2011£m	2010£m	2009£m	2008£m	2007¹£m
Turnover	16,479	15,410	14,528	12,969	12,462
Cost of sales	(15,331)	(14,348)	(13,615)	(12,151)	(11,826)
Gross profit	1,148	1,062	913	818	636

Other operating income	80	65	37	30	21
Administrative expenses	(323)	(315)	(281)	(268)	(272)
(Losses)/profits arising on property transactions	(1)	4	2	32	38
Operating profit before pensions credit	904	816	671	612	423
Pensions credit		91	–	–	–
Operating profit	904	907	671	612	423
Net finance costs	(30)	(49)	(16)	–	(54)
Profit before taxation	874	858	655	612	369
Taxation	(242)	(260)	(195)	(58)	(121)
Profit for the period attributable to the owners of the Company	632	598	460	554	248

Earnings per share (pence)
– basic	23.93	22.80	17.39	20.79	9.32
– diluted	23.43	22.37	17.16	20.67	9.31
– underlying	23.03	20.47	16.67	14.38	8.28

Dividend per ordinary share (pence)	9.60	8.20	5.80	4.80	4.00

	2011£m	Restated²2010£m	Restated²2009£m	Restated²2008£m	Restated²2007¹£m
Assets
Intangible assets	184	–	–	–	–
Property, plant and equipment	7,557	7,439	6,838	6,445	6,346
Investment property	229	229	242	239	241
Net pension asset	38	–	–	–	–
Other financial assets	3	–	81	43	19
Non-current assets	8,011	7,668	7,161	6,727	6,606

Current assets	1,138	1,092	1,065	909	765

Liabilities
Current liabilities	(2,086)	(2,152)	(2,024)	(1,853)	(1,855)
Other financial liabilities	(1,052)	(1,027)	(1,049)	(774)	(769)
Deferred tax liabilities	(499)	(515)	(472)	(424)	(478)
Net pension liabilities	–	(17)	(49)	(68)	(198)
Provisions	(92)	(100)	(112)	(139)	(145)
Non-current liabilities	(1,643)	(1,659)	(1,682)	(1,405)	(1,589)

Net assets	5,420	4,949	4,520	4,378	3,927

Shareholders' equity
Called up share capital	266	265	263	269	268
Share premium	107	92	60	57	42
Capital redemption reserve	6	6	6	–	–
Merger reserve	2,578	2,578	2,578	2,578	2,578
Retained earnings and hedging reserves	2,463	2,008	1,613	1,474	1,040
Total equity attributable to the owners of the Company	5,420	4,949	4,520	4,378	3,927