Financial Statements

Group statement of comprehensive income




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

1 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.