Group three-year summary
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| Balance sheet |
1 March 2008 £m |
3 March 2007 £m |
31 March 2006 £m |
|---|---|---|---|
| Invested capital | 3,139.5 | 3,011.8 | 3,107.2 |
| Retirement benefit assets | 83.7 | 9.3 | 25.5 |
| Net tax liabilities | (52.0) | (2.6) | (4.8) |
| Net cash/(pro forma net debt) | 174.0 | 60.2 | (200.0) |
| Pro forma net assets | 3,345.2 | 3,078.7 | 2,927.9 |
| Net GUS group balances | – | – | 22.0 |
| Reported net assets | 3,345.2 | 3,078.7 | 2,949.9 |
| Benchmark pre-tax return on invested capital | 52-week period to 1 March 2008 £m |
52-week pro forma to 3 March 2007 £m |
52-week pro forma to 4 March 2006 £m |
|---|---|---|---|
| Benchmark operating profit | 398.0 | 359.4 | 331.8 |
| Share of post-tax results of joint ventures and associates | 1.6 | 0.7 | (4.2) |
| Benchmark pre-tax return | 399.6 | 360.1 | 327.6 |
| Benchmark pre-tax return on invested capital | 12.7% | 12.0% | 10.5% |
| Earnings and dividends |
52-week period to 1 March 2008 |
52-week pro forma to 3 March 2007 |
52-week pro forma to 4 March 2006 |
|---|---|---|---|
| Basic benchmark EPS | 33.9p | 29.3p | 25.6p |
| Dividends per share (Interim paid and final proposed) | 14.7p | 13.0p | n/a |
| Dividend cover | 2.31x | 2.25x | n/a |
The change in both the year-end and the Group’s capital structure on demerger in 2006 resulted in statutory reported results that are non-comparable. To assist with analysis and comparison, certain pro forma information has therefore been provided in respect of the comparative periods to eliminate the distortions of these two impacts on the performance of Home Retail Group.
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