Notes to the accounts
2. Segmental information
The Group's results derive from one business segment – the retailing of jewellery, watches and associated services. The Group is managed as two geographical operating segments: the US and UK divisions. Both divisions are managed by executive committees, which report through the Group Chief Executive to the Group Board. Each divisional executive committee is responsible for operating decisions within guidelines set by the Group Board.
| 2008 $m |
2007 $m |
2006 $m |
|
|---|---|---|---|
| Sales by origin and destination: | |||
| UK trading | 959.6 | 907.1 | 845.3 |
| US trading | 2,705.7 | 2,652.1 | 2,308.8 |
| 3,665.3 | 3,559.2 | 3,154.1 | |
| Operating profit: | |||
| UK trading | 105.1 | 103.4 | 88.4 |
| Group function(1) | (16.0) | (13.9) | (14.4) |
| UK | 89.1 | 89.5 | 74.0 |
| US trading | 262.2 | 326.7 | 300.7 |
| 351.3 | 416.2 | 374.7 | |
| Depreciation and amortisation: | |||
| UK trading | 42.0 | 37.1 | 31.9 |
| US trading | 72.1 | 61.3 | 51.3 |
| 114.1 | 98.4 | 83.2 | |
| Capital additions: | |||
| UK trading | 28.6 | 23.3 | 48.2 |
| Group function | 0.7 | – | – |
| UK | 29.3 | 23.3 | 48.2 |
| US trading | 111.1 | 101.1 | 88.4 |
| 140.4 | 124.4 | 136.6 | |
| Total assets: | |||
| UK trading | 496.3 | 521.2 | 492.4 |
| Group function | 229.2 | 328.6 | 234.0 |
| UK | 725.5 | 849.8 | 726.4 |
| US trading | 2,298.7 | 2,115.2 | 1,877.2 |
| 3,024.2 | 2,965.0 | 2,603.6 | |
| Total liabilities: | |||
| UK trading | (147.3) | (147.2) | (156.1) |
| Group function | (267.1) | (201.7) | (55.2) |
| UK | (414.4) | (348.9) | (211.3) |
| US trading | (803.7) | (870.1) | (836.7) |
| (1,218.1) | (1,219.0) | (1,048.0) |
(1)Group function costs for 2006 included a net charge of $1.3 million relating to property provisions.