CONSOLIDATED PROFIT AND LOSS ACCOUNT

for the year to 1 June 2003


Notes 2003
£000		 2002
£000
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Turnover 2 129,109 108,557
Cost of sales 3 (42,592) (36,550)
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Gross profit 3 86,517 72,007
Net operating expenses 3 (69,056) (58,502)
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Operating profit 2 17,461 13,505
Interest receivable 265 253
Interest payable and similar charges 6 (274) (253)
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Profit on ordinary activities before taxation 7 17,452 13,523
Equity minority interests 8 (6,470) (4,935)
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Profit on ordinary activities after taxation 10,982 8,588
Equity minority interests 24 - -
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Profit for the financial year 9 10,982 8,588
Dividends 10 (5,086) (3,816)
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Profit retained for the financial year 23 5,896 4,772
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Basic earnings per ordinary share 11 37.0p 28.2p
Diluted earnings per ordinary share 11 36.3p 27.5p
Dividend per ordinary share 10 17.0p 13.0p

All items dealt with in arriving at the profit on ordinary activities before taxation relate to continuing activities.

There is no difference between the profit on ordinary activities before taxation and the retained profit for the year stated above and their historical cost equivalents.

The accompanying notes are an integral part of this profit and loss account.

CONSOLIDATED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
for the year to 1 June 2003

2003
£000		 2002
£000
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Profit for the financial year 10,982 8,588
Currency translation differences on foreign currency net investments 95 86
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Total recognised gains and losses relating to the year 11,077 8,674
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