For the short period 1 April 2006 to 3 March 2007
| 2007 £m |
2006 £m |
||||
| Costs relating to the demerger of Home Retail Group and Experian (a) | (11.3) | – | |||
| Waiver of loan due from Experian (b) | (7.3) | – | |||
| Store impairment charges (c) | (4.1) | (12.8) | |||
| Re-organisation costs (d) | – | (11.9) | |||
| Exceptional items in operating profit | (22.7) | (24.7) | |||
| Exceptional finance income (e) | 6.9 | – | |||
| Total exceptional items | (15.8) | (24.7) |
| (a) | Demerger-related expenditure including costs in relation to early vesting of share incentive schemes, banking set up fees and other professional fees. |
| (b) | Represents a loan due from Experian which has been waived as part of the demerger process. |
| (c) | IFRS requires individual stores to be designated as cash generating units for the purposes of testing for impairment. This resulted in a net impairment charge in respect of the Homebase store portfolio of £4.1m (2006: £12.8m). |
| (d) | In 2005, Home Retail Group (then ARG), undertook a re-organisation whereby approximately 500 Homebase roles, including the merchandising and buying functions previously based in Wallington, Surrey, relocated to the Group’s head office in Milton Keynes. The costs of the move totalled £11.9m in 2006. |
| (e) | Fair value gain made on transfer of interest rate swap novated from GUS plc on demerger. |