Full Annual Report - Inchcape

Section
One
Business
review
Like for like sales and
trading profit
Profit before tax and
exceptional items
Working capital
Cash generated from
operations
Definition
Definition
Definition
Definition
Excludes the impact of
acquisitions from the date
of acquisition until the 13th
month of ownership and
businesses that are sold or
closed.It further removes the
impact of retail centres that
are relocated.This is from the
date of opening until the
13th month of trading in the
new location.These
numbers are presented in
constant currency.
Represents the profit
made after operating
and interest expense but
before tax is charged
excluding the impact of
exceptional items.
Defined as inventory,
receivables, payables, and
supplier related credit.
Defined as trading profit
adjusted for depreciation,
amortisation and other
non cash items plus the
change in working capital
and provisions.
Achievements in 2009
Achievements in 2009
Achievements in 2009
Achievements in 2009
Like for like sales and
trading profit declined as
anticipated in 2009 due
to the significant fall in the
majority of our markets.
Profit before tax and
exceptional items
decreased by 19% in 2009
due to the global market
downturn.
Our stock cover target
was achieved seven
months ahead of plan.
Total working capital
reduced by £176m in
2009, a 69.6% reduction
on 2008.
As a result of cost saving
and working capital
reductions, operating
cash flow grew by 83.3%
to £336.7m in 2009.
Like for like sales
and trading profit
Profit before tax
and exceptional items
£155.1m
-18.7%
Working capital
£77m
-69.6%
Cash generated
from operations
£336.7m
Like for like sales
£5.2bn
14.6%
Like for like trading profit
£194.8m
29.0%
£190.3m
£213.9m
£235.1m
£190.7m
£155.1m
£253m
-69.6%
£77m
+83.3%
05
06
07
08
09
2008
2009
www.inchcape.com 21