IFRS 8 “Operating Segments” requires disclosure of the operating segments which are reported to the Chief Operating Decision Maker (“CODM”). The CODM has been identified as the executive management board, which includes the executive directors and other key management. It is the executive management board that has responsibility for planning and controlling the activities of the Group.
The Group’s reportable segment has been identified as Retail. The operating segment Magasin is not a reportable segment as it does not exceed 10 per cent of Group revenues, profits or gross assets; however, this information has been presented voluntarily within the segmental analysis below as it is regularly provided to the CODM. The segments are reported to the CODM to operating profit level, using the same accounting policies as applied to the Group accounts. No analysis has been provided of the assets and liabilities of each operating segment as this information is not regularly provided to the CODM within the monthly operating pack.
Segmental analysis of results
| Retail £m |
Magasin £m |
Total £m |
|
|---|---|---|---|
| 53 weeks ended 3 September 2011 | |||
| Gross transaction value | 2,432.6 | 246.7 | 2,679.3 |
| Concessions, consignments, staff discounts and loyalty schemes | (359.7) | (109.8) | (469.5) |
| External revenue | 2,072.9 | 136.9 | 2,209.8 |
| Operating profit | 175.2 | 8.5 | 183.7 |
| Other segment items | |||
| – Depreciation | 79.5 | 4.0 | 83.5 |
| – Amortisation of intangible assets | 7.6 | 0.9 | 8.5 |
| 52 weeks ended 28 August 2010 | |||
| Gross transaction value | 2,373.2 | 191.1 | 2,564.3 |
| Concessions, consignments, staff discounts and loyalty schemes | (356.9) | (87.5) | (444.4) |
| External revenue | 2,016.3 | 103.6 | 2,119.9 |
| Operating profit before exceptional items | 193.6 | 1.5 | 195.1 |
| Exceptional items | (3.6) | (1.8) | (5.4) |
| Operating profit/(loss) after exceptional items | 190.0 | (0.3) | 189.7 |
| Other segment items | |||
| – Depreciation | 82.0 | 2.9 | 84.9 |
| – Amortisation of intangible assets | 8.3 | 1.0 | 9.3 |
Revenues analysed by country, based on the customer’s location, are set out below:
| 3 September 2011 £m |
28 August 2010 £m |
|
|---|---|---|
| United Kingdom | 1,851.8 | 1,799.8 |
| Republic of Ireland | 144.1 | 150.4 |
| Denmark | 136.9 | 103.6 |
| Rest of the world | 77.0 | 66.1 |
| Total | 2,209.8 | 2,119.9 |
Non-current assets, which comprise intangible assets, property, plant and equipment and other receivables analysed by country, are set out below.
| 3 September 2011 £m |
28 August 2010 £m |
|
|---|---|---|
| United Kingdom | 1,436.6 | 1,469.6 |
| Republic of Ireland | 39.2 | 40.8 |
| Denmark | 35.2 | 29.1 |
| Total | 1,511.0 | 1,539.5 |