Key Financial Data
The financial data included below for fiscal 2010, fiscal 2009 and fiscal 2008 have been derived from the audited consolidated financial statements included in Item 8 of Form 10-K. The financial data for these periods should be read in conjunction with the financial statements, including the notes thereto, and Item 7 of Form 10-K. The financial data included below for fiscal 2007 and fiscal 2006 have been derived from previously published consolidated audited financial statements.
The financial statements of Signet for fiscal 2008, fiscal 2007 and fiscal 2006 were prepared in accordance with International Financial Reporting Standards, which differ in certain respects from US GAAP. Any figures used for these years have been converted to US GAAP.
Historic per share data have been adjusted to take account of the 1-for-20 reverse share split (share consolidation) undertaken as part of the move of the primary listing of the shares of the parent company to the NYSE, effective September 11, 2008.
| Fiscal 2010 $m | Fiscal 2009 $m | Fiscal 2008(1) $m | Fiscal 2007(1)(2) $m | Fiscal 2006(1) $m | |
|---|---|---|---|---|---|
| Income statement: | |||||
| Sales | 3,290.7 | 3,344.3 | 3,665.3 | 3,559.2 | 3,154.1 |
| Cost of sales | (2,213.8) | (2,264.2) | (2,414.6) | (2,266.3) | (1,990.1) |
| Gross margin | 1,076.9 | 1,080.1 | 1,250.7 | 1,292.9 | 1,164.0 |
| Selling, general and administrative expenses | (916.5) | (969.2) | (1,000.8) | (979.6) | (876.8) |
| Impairment of goodwill | - | (516.9) | - | - | - |
| Relisting costs | - | (10.5) | - | - | - |
| Other operating income, net | 115.4 | 119.2 | 108.8 | 91.5 | 83.3 |
| Operating income/(loss) | 275.8 | (297.3) | 358.7 | 404.8 | 370.5 |
| Interest income | 0.8 | 3.6 | 6.3 | 16.7 | 4.3 |
| Interest expense | (34.8) | (32.8) | (28.8) | (34.2) | (20.5) |
| Income/(loss) before income taxes | 241.8 | (326.5) | 336.2 | 387.3 | 354.3 |
| Income taxes | (77.7) | (67.2) | (116.4) | (134.6) | (116.3) |
| Net (loss)/income | 164.1 | (393.7) | 219.8 | 252.7 | 238.0 |
| Earnings/(loss) per share: basic | $1.92 | $(4.62) | $2.58 | $2.92 | $2.74 |
diluted | $1.91 | $(4.62) | $2.55 | $2.86 | $2.74 |
| Dividends per share | - | $1.45 | $1.45 | $1.43 | $1.19 |
| Balance sheet: | |||||
| Working capital | 1,814.5 | 1,675.9 | 1,776.3 | 1,723.5 | 1,211.9 |
| Total assets | 2,924.2 | 2,953.9 | 3,599.4 | 3,508.2 | 2,863.1 |
| Cash and cash equivalents | 316.2 | 96.8 | 41.7 | 152.3 | 92.9 |
| Loans and overdrafts | (44.1) | (187.5) | (36.3) | (5.5) | (267.4) |
| Long term debt | (280.0) | (380.0) | (380.0) | (380.0) | - |
| Total shareholders equity | 1,797.6 | 1,609.7 | 2,321.2 | 2,227.9 | 2,062.9 |
| Common shares in issue (million) | 85.5 | 85.3 | 85.3 | 85.7 | 86.9 |
| Cash flow: | |||||
| Net cash provided by operating activities | 515.4 | 164.4 | 140.8 | 199.3 | 200.7 |
| Net cash flows used in investing activities | (43.5) | (113.3) | (139.4) | (123.8) | (123.1) |
| Net debt(3) | (7.9) | (470.7) | (374.6) | (233.2) | (174.5) |
| Ratios: | |||||
| Effective tax rate | 32.1% | (20.6%) | 34.6% | 34.8% | 32.8% |
| Gearing(3) | 0.4% | 29.2% | 21.2% | 13.9% | 11.5% |
| ROCE(3) | 11.4% | 9.6% | 17.3% | 22.4% | 22.3% |
| Fixed charge cover(3) | 2.0x | 1.9x | 2.4x | 2.6x | 2.6x |
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(1) Based on audited IFRS, converted to US GAAP
(2) 53 week year.
(3) Net debt, gearing, ROCE and fixed charge cover are non-GAAP measures.