Annual report & review 2006 - Shopic.com

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Summary financial statements 13 Own Shares 2006 2005 Restated €m €m Own Shares 2.8 2.4 Own shares are held to satisfy awards under the Group’s Approved Profit Sharing Schemes and Long Term Incentive Plans and are held by the Profit Sharing Scheme Trust and Employee Benefit Trust. During the year €4.1 million (2005: €3.3 million) was incurred on acquiring shares, €3.7 million (2005: €3.2 million) of which were used for awards under the long-term incentive plans and Approved Profit Sharing Scheme. At 31 December 2006 the trustees held 553,963 shares (2005: 501,830 shares). 14 Reserves Share Capital premium redemption Revaluation Other Profit & account reserve reserve reserves Loss €m €m €m €m €m At beginning of year – as previously stated 2.7 1.5 51.6 6.9 147.7 Prior year adjustment: UITF 38 – Accounting for ESOP Trusts – – – 1.5 0.6 At beginning of year – restated 2.7 1.5 51.6 8.4 148.3 Total recognised gains for the year (note 15) – – – – 82.0 Dividends paid (note 6) – – – – (15.5) Payments to reacquire ordinary shares – – – (3.7) (0.4) Awards under long term incentive plan – – – 2.3 – Awards under profit sharing schemes – – – 1.7 – At end of year 2.7 1.5 51.6 8.7 214.4 60 Musgrave Group Plc Annual Report & Review 2006
Summary financial statements 15 Reconciliation of Movements in Shareholders’ Funds 2006 2005 Restated €m €m Profit for the financial year 60.7 54.3 Actuarial gain/(loss) on pension schemes (note 19) 21.6 (17.3) Deferred tax on actuarial (gain)/loss on pension schemes (note 19) (4.2) 3.3 Currency translation adjustment on net investment in foreign subsidiary undertakings 3.9 0.1 Total recognised gains relating to the year 82.0 40.4 Dividends paid (note 6) (15.5) (14.7) Shares issued in year – 0.8 Own shares (note 13) (0.4) (0.1) Shares purchased for long term incentive plans and profit sharing schemes (note 13) (3.7) (3.2) Awards under long term incentive plans 2.3 1.8 Awards under profit sharing schemes 1.7 1.6 Net increase in shareholders’ funds 66.4 26.6 Shareholders’ funds at beginning of year – as previously stated 240.2 274.6 Prior year adjustments: FRS 20 Share-based payment and UTIF 38 Accounting for ESOP Trusts 2.1 0.1 FRS 17 Retirement Benefits and FRS 21 Events after the balance sheet date (dividends) – (59.0) Shareholders’ funds at end of year 308.7 242.3 61 Musgrave Group Plc Annual Report & Review 2006
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Annual report & review 2006
Page 3 and 4:
Musgrave at a glance 4 Our Chairman
Page 5 and 6:
Musgrave at a glance hoW Do We SouR
Page 7 and 8:
Our Chairman’s statement WoRkING
Page 9 and 10: Interview with our Group CEO Making
Page 11 and 12: Interview with our Group CEO orderi
Page 13 and 14: Interview with our Group CEO exciti
Page 15 and 16: Review of 2006 This is a year in wh
Page 17 and 18: Our business is all about respondin
Page 19 and 20: Review of 2006 Our innovative Marke
Page 21 and 22: Review of 2006 Our business in Grea
Page 23 and 24: Different & better - retailers & lo
Page 29 and 30: Budgens Virginia Quay Providing a h
Page 33 and 34: Different & better - consumers & co
Page 39 and 40: to meet international best practice
Page 41 and 42: Musgrave Group head office, Cork 41
Page 43 and 44: Responsibility charitable support A
Page 45 and 46: accordance with management’s auth
Page 47 and 48: Our board of directors peter Musgra
Page 49 and 50: Results Turnover amounted to €4,5
Page 51 and 52: Finance review Taxation The effecti
Page 53 and 54: Summary financial statements CONSOL
Page 55 and 56: Summary financial statements Notes
Page 57 and 58: Summary financial statements 5 Taxa
Page 59: Summary financial statements 10 Ban
Page 63 and 64: Summary financial statements Analys
Page 65 and 66: Summary financial statements Moveme
Page 67 and 68: Printed on Hello silk, fully recycl
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