Group Statement Of Comprehensive Income.

2011
2010

Group Statement Of Comprehensive Income 2011

			Group
		52 weeks ended 1 May 2011	52 weeks ended 2 May 2010
	Note	£m	£m
Revenue	4	237.9	139.4
Cost of sales	8	(105.1)	(66.1)
Gross profit		132.8	73.3
Selling, general and administrative expenses excluding exceptional items	9	(85.6)	(47.6)
Selling, general and administrative expenses - exceptional items	9	(0.7)	(3.8)
Total selling, general and administrative expenses	9	(86.3)	(51.4)
Other gains and losses (net)	10	0.7	0.8
Operating profit	7	47.2	22.7
Finance income	14	0.1	-
Finance costs	15	-	(0.2)
Profit before tax - underlying¹		50.2	26.5
Exceptional items	9	(0.7)	(3.8)
Net derivatives expense	33	(1.5)	(0.2)
Impact of new inventory accounting policy relating to prior periods	2	1.6	-
Impact of IFRS 3 (revised) on inventory acquired at date of acquisition	5	(1.9)	-
Fair value movement of deferred share consideration	5	(0.4)	-
Profit before tax		47.3	22.5
Income tax expense excluding exceptional items	16	(13.8)	(0.2)
Exceptional income tax (expense)/credit	16	(3.4)	49.9
Total income tax (expense)/credit	16	(17.2)	49.7
Profit for the period		30.1	72.2
Other comprehensive income net of tax:
Currency translation differences (Statements of changes in equity)		1.7	-
Total comprehensive income for the period		31.8	72.2
Attributable to:
Shareholders of the Company		31.8	72.2
		pence per share	pence per share
Earnings per share:
Basic and diluted	19	37.9	127.2

Underlying results have been adjusted to reflect the impact of revaluation of inventory within SuperGroup Europe BVBA at acquisition (IFRS 3 revised requirement), the impact of including the prior years' freight and duty costs into inventory, exceptional items, the loss recognised on fair valuing of deferred consideration and financial derivatives. All references to underlying in this statement are after making these adjustments. Retail and Wholesale are presented before Group overheads and royalties unless stated otherwise.

The Company has elected to take the exemption under Section 408 of the Companies Act 2006 not to present the Company statement of comprehensive income.

The notes inclusive are an integral part of these consolidated financial statements.

The Company number is 07063562.

Group Statement Of Comprehensive Income 2010

		£'000	£'000
	Note	52 weeks ended 2 May 2010	52 weeks ended 3 May 2009
Revenue	11.4	139,404	76,143
Cost of sales	11.7	(66,130)	(39,877)
Gross profit		73,274	36,266
Selling, general and administrative expenses excluding exceptional items	11.8	(47,630)	(28,601)
Selling, general and administrative expenses - exceptional items	11.8	(3,811)	-
Total selling, general and administrative expenses	11.8	(51,441)	(28,601)
Other gains and losses (net)	11.9	790	251
Operating profit	11.6	22,623	7,916
Finance income	11.12	3	2
Finance costs	11.13	(170)	(331)
Profit before tax before exceptional items and derivatives		26,501	7,917
Exceptional items	11.8	(3,811)	-
Net derivatives expense		(234)	(330)
Profit before tax		22,456	7,587
Income tax expense excluding exceptional items	11.14	(187)	-
Exceptional income tax credit	11.14	49,889	-
Total income tax (expense)/credit		22,456	7,587
Profit for the period		72,158	7,587
Other comprehensive income net of tax:
Currency translation difference	10.4	(33)	-
Total comprehensive income for the period		72,125	7,587
Attributable to:
Shareholders of the Company		72,125	7,587
		pence per share	pence per share
Earnings per share:
Basic and diluted	11.17	127.2	14.0

The results for the financial period are derived from continuing operations.

Under predecessor accounting the total comprehensive income for the period is attributable to the shareholders of the Company. Other comprehensive income is disclosed net of tax.

Published : 10 August 2011 20:42