Latest Results
Fiscal 2011 US GAAP Quarterly Financial Statements
Same Store Sales
Income Statement
Segmental information
Balance Sheet
Cash flows
Same Store Sales
| Q1 $m | Q2 $m | Q3 $m | Q4 $m | Full year $m |
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| Kay | 4.2% | | | | |
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| Regionals | 2.7% | | | | |
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| Jared | 15.8% | | | | |
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| US | 7.2% | | | | |
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| | | | | | |
| H.Samuel | (2.1)% | | | | |
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| Ernest Jones | 1.8% | | | | |
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| UK | (0.2)% | | | | |
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| | | | | | |
| Signet | 5.8% | | | | |
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Income Statement
| Q1 $m | Q2 $m | Q3 $m | Q4 $m | Full year $m |
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Sales Cost of sales | 810.0 (513.7) | | | | |
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| Gross margin | 296.3 | | | | |
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| Selling, general and administrative expenses | (238.5) | | | | |
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| Other operating income, net | 27.7 | | | | |
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Operating income, net Interest income Interest expense | 85.5 0.1 (8.8) | | | |
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Income before income taxes Income taxes | 76.8 (24.8) | | | | |
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| Net income | 52.0 | | | | |
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| | | | | | |
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Earnings per share - basic - diluted | $0.61 $0.60 | | | | |
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Segmental Information| | Q1 $m | Q2 $m | Q3 $m | Q4 $m | Full year $m |
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Sales US UK | 667.1 142.9 | | | | |
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| Total sales | 810.0 | | | | |
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Operating income, net US UK Unallocated(1) | 91.1 (1.4) (4.2) | | | | |
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| Total operating income, net | 85.5 | | | | |
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(1) Unallocated principally relates to central costs.
Balance Sheet| | Q1 $m | Q2 $m | Q3 $m | Q4 $m | Full year $m |
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Assets: Current assets | | | | | |
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| Cash and cash equivalents | 447.1 | | | | |
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| Accounts receivable, net | 801.7 | | | | |
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| Other receivables | 25.2 | | | | |
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| Other current assets | 51.1 | | | | |
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| Deferred tax assets | 0.7 | | | | |
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| Inventories | 1,122.0 | | | | |
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| Total current assets | 2,447.8 | | | | |
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| Non-current assets | | | | | |
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| Property, plant and equipment, net | 375.2 | | | | |
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| Other intangible assets, net | 23.6 | | | | |
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| Other assets | 12.0 | | | | |
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| Deferred tax assets | 52.8 | | | | |
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| | | | | | |
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| Total assets | 2,911.4 | | | | |
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Liabilities and shareholders' equity: Current liabilities | | | | | |
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| Loans and overdrafts | 47.2 | | | | |
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| Accounts payable | 104.2 | | | | |
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| Accrued expenses and other current liabilities | 233.9 | | | | |
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| Deferred revenue | 115.9 | | | | |
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| Deferred tax liabilities | 79.6 | | | | |
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| Income taxes payable | 32.1 | | | | |
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| Total current liabilities | 612.9 | | | | |
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| Non-current liabilities | | | | | |
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| Long-term debt | 229.1 | | | | |
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| Other liabilities | 78.9 | | | | |
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| Deferred revenue | 143.1 | | | | |
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| Retirement benefit obligation | 1.8 | | | | |
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| | | | | | |
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| Total liabilities | 1,065.8 | | | | |
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| | | | | | |
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| Total shareholders' equity | 1,845.6 | | | | |
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| | | | | | |
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| Total liabilities and shareholders' equity | 2,911.4 | | | | |
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Cash Flows| | Q1 $m | Q2 $m | Q3 $m | Q4 $m | Full year $m |
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| Cash flows from operating activities: | | | | | |
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| Net income | 52.0 | | | | |
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| Adjustments for: | | | | | |
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| Depreciation of property, plant and equipment | 22.4 | | | | |
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| Amortization of other intangible assets | 2.0 | | | | |
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| Pension expense | (1.9) | | | | |
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| Share-based compensation | 2.3 | | | | |
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| Deferred taxation | 6.3 | | | | |
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| Facility amendment fees included in net income | 2.3 | | | | |
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| Other non-cash movements | (0.7) | | | | |
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| Loss on disposal of property, plant and equipment | - | | | | |
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| Changes in operating assets and liabilities: | | | | | |
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| Decrease in accounts receivable | 55.1 | | | | |
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| Decrease in other receivables | 3.7 | | | | |
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| Decrease in other current assets | 10.0 | | | | |
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| Decrease in inventories | 38.9 | | | | |
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| Increase in accounts payable | 38.5 | | | | |
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| Decrease in accrued expenses and other liabilities | (33.6) | | | | |
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| Decrease in deferred revenue | (1.8) | | | | |
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| Decrease in income taxes payable | (11.1) | | | | |
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| Effect of exchange rate changes on currency swaps | (0.2) | | | | |
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| Net cash provided by operating activities | 184.2 | | | | |
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Investing activities: | | | | | |
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| Purchase of property, plant and equipment | (4.7) | | | | |
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| Purchase of other intangible assets | (1.6) | | | | |
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| Proceeds from sale of property, plant and equipment | - | | | | |
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| Net cash flows used in investing activities | (6.3) | | | | |
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Financing activities: | | | | | |
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| Proceeds from issue of common shares | 0.8 | | | | |
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| Facility fees paid | (1.0) | | | | |
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| Proceeds from short-term borrowings | 3.1 | | | | |
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| Repayment of long-term debt | (50.9) | | | | |
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| Net cash flows used in financing activities | (48.0) | | | | |
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| Cash and cash equivalents at beginning of period | 316.2 | | | | |
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| Increase in cash and cash equivalents | 129.9 | | | | |
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| Effect of exchange rate changes on cash and cash equivalents | 1.0 | | | | |
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| Cash and cash equivalents at end of period | 447.1 | | | | |
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