Financial Statements

Consolidated Income Statement

Year ended 30 April 2013
Restated

Year ended 30 April 2014

Note

Underlying* Non-underlying*
millionmillion

Continuing operations
Revenue

2,3

7,217.6

Operating profit

2,3

202.8

0.1
(13.5)

Loss on sale of business

Finance income
Finance costs
Net finance costs

Total
million

Underlying*
million

Non-underlying*
million

Total
million

7,217.7

7,026.6

82.6

7,109.2

189.3

186.4

(35.8)

150.6

(9.6)

3.3
(22.3)
(19.0)

(9.6)
10.5
(64.9)
(54.4)

2.9
(39.5)
(36.6)

(19.8)
(19.8)

166.2

(33.3)

132.9

151.0

(64.4)

86.6

(50.5)
115.7

5.4
(27.9)

(45.1)
87.8

(54.0)
97.0

10.3
(54.1)

(43.7)
42.9

(158.1)

(158.1)

(215.3)

(215.3)

Profit / (loss) after tax for the year

115.7

(186.0)

(70.3)

97.0

(269.4)

(172.4)

Attributable to:
Continuing operations
Equity shareholders of the parent company
Non-controlling interests
Discontinued operations
Equity shareholders of the parent company
Non-controlling interests

115.7

(27.9)

87.8

97.1
(0.1)

(54.1)

43.0
(0.1)

115.7

(157.3)
(0.8)
(186.0)

97.0

(205.5)
(9.8)
(269.4)

(205.5)
(9.8)
(172.4)

2.9
(59.3)
(56.4)

7.2
(42.6)
(35.4)

Profit before tax

Income tax expense
Profit after tax continuing operations

Loss after tax discontinued operations

(Loss) / earnings per share (pence)

Basic total
Diluted total
Basic continuing operations
Diluted continuing operations

Underlying earnings per share (pence)

Basic continuing operations
Diluted continuing operations

27

(157.3)
(0.8)
(70.3)

(1.9)p
(1.9)p
2.4p
2.3p

(4.5)p
(4.5)p
1.2p
1.2p

1,8

3.2p
3.0p

2.7p
2.6p

Underlying figures exclude the trading results of businesses exited, amortisation of acquired intangibles, net restructuring and business impairment charges and other
one off, non-recurring items, profits / losses on sale of businesses, net interest on defined benefit pension schemes, net fair value remeasurements of financial
instruments and, where applicable, discontinued operations. Such excluded items are described as Non-underlying. Further information on these items is shown in
notes 1, 2, 3, 4, 5, 7 and 27.
Businesses exited comprise businesses which have either been sold or closed. Certain businesses meet the criteria of discontinued operations as stipulated by IFRS 5
and are disclosed as such, whereas the remainder do not. Accordingly, despite all of the business exits having similar characteristics, the disclosures within nonunderlying items differ across these businesses. Further information is shown in notes 2, 4 and 27.

Results for the year ended 30 April 2013 have been restated for the impact of the amendment to IAS 19 Employee Benefits, which is described further in note 1.
Underlying figures for the year ended 30 April 2013 have been re-presented to exclude the trading results of businesses exited for which the decisions were made or
executed in 2013/14.

Dixons Retail plc

63

Annual Report and Accounts 2013/14

Financial Statements

Consolidated Statement of Comprehensive Income and Expense

Year ended
30 April 2014
Note

Loss for the year

Items that may be reclassified to the income statement in subsequent years
Cash flow hedges
Fair value remeasurement (losses) / gains
(Gains) / losses transferred to carrying amount of inventories
Losses transferred to income statement (within cost of sales)
Net investment hedges
Fair value remeasurement gains
Reclassification on disposal of overseas subsidiaries
Available for sale investments
Fair value remeasurement gains
Income tax effects
Currency translation movements

Items that will not be reclassified to the income statement in subsequent years:
Actuarial gains / (losses) on defined benefit pension schemes UK
Overseas
Deferred tax on actuarial gains / (losses) on defined benefit pension schemes
Currency translation movements

Other comprehensive expense for the year (taken to equity)

Total comprehensive expense for the year
Attributable to:
Equity shareholders of the parent company
Non-controlling interests

Dixons Retail plc

64

million

Year ended
30 April 2013
Restated
million

(70.3)

(172.4)

10.5
(15.1)
10.1

(12.7)
5.4
3.4

22

22

64.7

21

0.9

0.1
(1.5)
(135.7)
(66.9)

0.4
0.8
32.5
30.7

3.6
0.4
(13.8)
0.4
(9.4)

(151.5)
1.6
31.6
(0.6)
(118.9)

(76.3)

(88.2)

(146.6)

(260.6)

(145.8)
(0.8)
(146.6)

(250.4)
(10.2)
(260.6)

Annual Report and Accounts 2013/14

Financial Statements

Consolidated Balance Sheet

Note

Non-current assets
Goodwill
Intangible assets
Property, plant & equipment
Investments in associates
Trade and other receivables
Deferred tax assets

9
10
11
12
14

30 April 2014
million

30 April 2013
million

607.4
50.9
330.5
0.5
13.6
121.2
1,124.1

704.2
66.4
434.0
0.5
20.6
150.9
1,376.6

684.4
267.1
6.1
1.4
401.2
1,360.2
30.8
2,515.1

895.4
304.5
5.4
2.4
405.3
1,613.0
15.1
3,004.7

(2.0)
(1,382.4)
(51.4)
(24.1)
(1,459.9)
(99.7)

(17.7)
(4.5)
(2.0)
(1,667.7)
(70.4)
(36.8)
(1,799.1)
(186.1)

(246.9)
(91.6)
(401.8)
(239.1)
(15.1)
(16.1)
(1,010.6)
(31.2)
(2,501.7)
13.4

(245.4)
(96.0)
(409.1)
(262.5)
(11.3)
(26.1)
(1,050.4)
(7.9)
(2,857.4)
147.3

91.5
179.3
(450.6)
192.6
12.8
0.6
13.4

90.7
172.7
(520.9)
405.6
148.1
(0.8)
147.3

Current assets
Inventories
Trade and other receivables
Income tax receivable
Short term investments
Cash and cash equivalents

13
14

15
16

Assets held for sale

Total assets

27

Current liabilities
Bank overdrafts
Borrowings
Obligations under finance leases
Trade and other payables
Income tax payable
Provisions

17
17
18
19

20

Net current liabilities

Non-current liabilities
Borrowings
Obligations under finance leases
Retirement benefit obligations
Other payables
Deferred tax liabilities
Provisions

17
18
21
19
7
20

Liabilities directly associated with assets classified as held for sale

Total liabilities
Net assets

27

Capital and reserves

Called up share capital
Share premium account
Other reserves
Retained earnings
Equity attributable to equity holders of the parent company
Equity non-controlling interests
Total equity

23

23

The financial statements were approved by the directors on 25 June 2014 and signed on their behalf by:

Sebastian James
Group Chief Executive
Dixons Retail plc

Humphrey Singer
Group Finance Director
65

Annual Report and Accounts 2013/14