1995 1994
52 weeks ended 25 February 1995 note £m £m
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Sales at net selling prices 10,877 9,247
Value added tax 776 647
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Turnover excluding value added tax 1 & 2 10,101 8,600
Operating expenses 2 9,498 8,056
Employee profit sharing 3 25 23
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Operating profit 1 & 2 578 521
Net loss on disposal of properties 4 (5) (93)
Net interest (payable)/receivable 6 (22) 7
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Profit on ordinary activities before taxation 4
Profit before property loss and integration costs 595 528
Wm Low integration costs 2 (39) -
Net loss on disposal of properties (5) (93)
551 435
Tax on profit on ordinary activities 7 170 136
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Profit on ordinary activities after taxation 381 299
Minority interests 1 1
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Profit for the financial year 380 298
Dividends 8 177 152
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Retained profit for the financial year 23 203 146
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pence pence
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Earnings per share 9 18.9 15.2
Adjustment for integration costs after taxation 1.5 -
Adjustment for loss on disposal of properties after taxation 0.3 4.1
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Adjusted earnings per share 9 20.7 19.3
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Fully diluted earnings per share 9 18.4 15.1
Adjustment for integration costs after taxation 1.4 -
Adjustment for loss on disposal of properties after taxation 0.3 3.7
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Adjusted fully diluted earnings per share 9 20.1 18.8
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Dividends per share 8 8.60 7.75
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