2005/06		2005/06(1)		2004/05		2003/04(2)		2002/03(2)		2001/02(2)(3)
		£m		$m		£m		£m		£m		£m
Amounts under IFRS:
Profit and loss account
Sales		1,752.3		3,101.6		1,615.5		1,605.5		1,598.5		1,570.1
Cost of sales(4)		(1,516.3)		(2,683.9)		(1,371.8)		(1,372.7)		(1,378.2)		(1,368.8)
Gross profit		236.0		417.7		243.7		232.8		220.3		201.3
Administrative expenses		(74.1)		(131.2)		(69.8)		(67.3)		(65.0)		(63.0)
Other operating income		46.3		82.0		38.6		37.6		38.6		39.6
Operating profit		208.2		368.5		212.5		203.1		193.9		177.9
Financing costs		(7.8)		(13.8)		(8.6)		(10.4)		(14.0)		(15.0)
Profit before tax		200.4		354.7		203.9		192.7		179.9		162.9
Taxation		(69.6)		(123.2)		(69.1)		(69.4)		(65.3)		(60.0)
Profit for the period		130.8		231.5		134.8		123.3		114.6		102.9
Earnings per share – basic		7.5p		$0.13		7.8p		7.2p		6.7p		6.1p
Earnings per share – diluted		7.5p		$0.13		7.8p		7.1p		6.6p		6.0p
Earnings per ADS – basic		75.3p		$1.33		77.8p		71.8p		67.0p		60.9p
Earnings per share – diluted		75.1p		$1.33		77.6p		71.2p		66.4p		60.4p
Balance sheet data (at period end)
Working capital(5)		693.8		1,228.0		726.0		661.9		626.5		641.4
Total assets		1,471.0		2,603.7		1,310.3		1,265.5		1,239.5		1,274.8
Total debt		151.1		267.4		185.9		207.9		229.3		268.2
Long-term debt		–		–		132.8		146.2		174.0		215.3
Cash and cash equivalents		52.5		92.9		102.4		128.0		89.2		66.5
Shareholders’ funds		878.9		1,555.7		771.7		700.2		646.8		650.8
Store data:
Store numbers (at end of period):
US		1,221				1,156		1,103		1,050		1,025
UK		593				602		604		610		606
Percentage increase/(decrease) in like for like sales:
US		7%				6%		5%		5%		1%
UK		(8)%				3%		6%		5%		9%
Group		2%				5%		5%		5%		3%
Average sales per store (£’000s)(6):
US		1,072				976		1,028		1,074		1,116
UK		813				866		824		747		735
Amounts under US GAAP:
Profit and loss account data
Operating income		203.8		360.7		211.5		206.6		198.7		163.3
Net income		132.2		234.0		137.5		127.4		119.5		90.9
Income per share – basic		7.6p		$0.13		7.9p		7.4p		7.0p		5.4p
Earnings per share – diluted		7.6p		$0.13		7.9p		7.4p		6.9p		5.3p
Income per ADS – basic		76.1p		$1.35		79.4p		74.1p		69.9p		53.8p
Earnings per share – diluted		76.0p		$1.35		79.1p		73.6p		69.2p		53.4p
Balance sheet data (at period end)
Total assets		1,642.5		2,907.2		1,477.0		1,417.8		1,353.8		1,417.0
Total debt		151.1		267.4		53.1		70.0		76.3		91.4
Long-term debt		–		–		-		8.3		24.2		38.7
Cash at bank and in hand		52.5		92.9		102.4		128.0		89.2		66.5
Shareholders’ funds		1,165.5		2,062.9		1,056.0		988.5		947.5		977.5
Explanatory notes referred to in the above table are on page 125.

The selected consolidated financial data set out above for 2001/02, 2002/03, 2003/04, 2004/05 and 2005/06 has been derived, in part, from the audited consolidated accounts for such periods included elsewhere in this Annual Report & Accounts. The selected consolidated financial data should be read in conjunction with the accounts, including the notes thereto, and the Financial review included on pages 22 to 29 of this Annual Report & Accounts.

The accounts of the Group have been prepared in accordance with IFRS which differ in certain respects from US GAAP.

See pages 103 to 111 for information on the material differences between IFRS and US GAAP that affect the Group’s profit and shareholders’ funds.

Results of operations
The following table sets out certain consolidated financial data as a percentage of reported sales:

		Percentage of sales
		2005/06		2004/05		2003/04(2)
		%		%		%
Sales		100.0		100.0		100.0
Cost of sales(4)		(86.5)		(84.9)		(85.5)
Gross profit		13.5		15.1		14.5
Administrative expenses		(4.2)		(4.3)		(4.2)
Other operating income		2.6		2.4		2.3
Operating profit		11.9		13.2		12.6
Net financing costs		(0.4)		(0.5)		(0.6)
Profit before taxation		11.5		12.7		12.0
Taxation		(4.0)		(4.4)		(4.4)
Profit for the period		7.5		8.3		7.6