Consolidated Income Statement
Year ended 31 December
2008 | 2007 (Restated)* | ||
Note | £m | £m | |
| Continuing operations | |||
| Turnover | 4 | 2,603.6 | 2,125.2 |
| Cost of sales | (1,819.5) | (1,476.6) | |
| Gross profit | 784.1 | 648.6 | |
| Selling, marketing and distribution costs | (351.0) | (299.9) | |
| Administrative costs | (478.2) | (279.2) | |
| Net other operating income | 4.6 | 2.5 | |
| Operating profit | 6 | (40.5) | 72.0 |
| Before exceptional items | 256.0 | 230.7 | |
| Impairment of goodwill | 5 | (194.4) | - |
| Other exceptional items | 5 | (102.1) | (158.7) |
| Interest payable and other financial charges | 8 | (186.1) | (145.4) |
| Interest receivable and other financial income | 8 | 41.6 | 26.8 |
| Movement on fair valuation of interest rate swaps | 8 | (218.9) | (31.0) |
| Loss before taxation for continuing operations | (403.9) | (77.6) | |
| Taxation credit | 9 | 30.6 | 39.8 |
| Loss after taxation for continuing operations | (373.3) | (37.8) | |
| Loss from discontinued operations | 10 | (70.5) | (25.5) |
| Loss for the year attributable to equity shareholders | (443.8) | (63.3) | |
| Basic and diluted loss per share (pence) | 11 | (52.5) | (8.2) |
| Basic and diluted loss per share (pence) – continuing | 11 | (44.2) | 4.9 |
| Basic and diluted loss per share (pence) – discontinued | 11 | (8.3) | (3.3) |
| Adjusted earnings per share (pence) | 11 | 16.3 | 15.4 |
*Comparatives have been restated to reflect the classification of Martine Spécialités S.A.S, Le Pain Croustillant and Sofrapain S.A.S. as discontinued operations.
The attached notes form an integral part of the consolidated financial statements.
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