The following information is taken from the 1997 audited financial statements of Kwik Save Group plc:
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52 weeks ended
30th August 1997
£m
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53 weeks ended
31st August 1996
£m
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CONSOLIDATED PROFIT AND LOSS ACCOUNT
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Turnover (including VAT)
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3,251.0
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3,511.6
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Gross profit
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456.7
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457.3
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Distribution costs
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(343.3)
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(373.2)
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Administrative expenses
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(66.5)
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(44.8)
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Concession and rental income
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33.1
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32.2
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Operating profit - continuing operations
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80.0
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71.5
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Provision for losses on disposal of fixed assets
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--
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(63.8)
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Net interest payable
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(6.3)
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(4.9)
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Profit on ordinary activities before tax
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73.7
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2.8
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Tax on profit on ordinary activities
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(30.5)
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(25.5)
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Profit/ (Loss) for the financial year
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43.2
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(22.7)
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Dividends paid and proposed
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(31.2)
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(31.2)
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Profit/ (loss) for the financial year after dividends
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12.0
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(53.9)
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CONSOLIDATED BALANCE SHEET
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Fixed assets
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583.5
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635.4
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Current assets
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247.7
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251.6
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Creditors: due within one year
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(392.1)
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(460.6)
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Net current liabilities
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(144.4)
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(209.0)
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Creditors: due after more than one year
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(9.2)
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--
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Provisions for liabilities and charges
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(35.7)
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(44.2)
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Net assets
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394.2
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382.2
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CAPITAL AND RESERVES
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Called up share capital
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15.6
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15.6
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Share premium account
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19.0
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19.0
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Profit and loss account
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359.6
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347.6
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Shareholders' funds
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394.2
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382.2
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CONSOLIDATED CASH FLOW
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Operating activities
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77.7
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163.2
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Returns on investments and servicing of finance
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(6.9)
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(3.3)
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Corporation tax paid
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(33.0)
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(80.7)
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Capital expenditure
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(12.1)
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(110.8)
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Equity dividends paid
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(31.2)
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(31.1)
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Cash outflow before use of liquid resources and finance
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(5.5)
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(62.7)
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