Consolidated income statement

for the 52 weeks ended 28 November 2010

Notes 52 weeks
ended
28 November
2010
£’000
52 weeks
ended
29 November
2009
£’000
Revenue 5 515,688 401,997
Cost of sales (354,043) (279,168)
Gross profit 161,645 122,829
Other income 6,245 2,641
Distribution costs (132,809) (110,331)
Operating profit before administrative expenses
and exceptional item
35,081 15,139
Administrative expenses (36,895) (29,542)
Exceptional item — IPO costs 23 (3,542)
Operating loss 6 (5,356) (14,403)
Finance income 8 1,502 12
Finance costs 8 (8,357) (11,118)
Loss before tax (12,211) (25,509)
Taxation 9 5,000 2,300
Loss for the period attributable to the owners
of the Company†
(7,211) (23,209)
Loss per share pence pence
Basic and diluted loss per share 27 (1.63) (6.05)

†Non-GAAP measure: Earnings before interest, taxation, depreciation, amortisation, impairment and exceptional item (EBITDA)

Notes 52 weeks
ended
28 November 2010
£’000
52 weeks
ended
29 November 2009
£’000
Loss for the period attributable to the owners of the Company (7,211) (23,209)
Adjustments for:
Finance income 8 (1,502) (12)
Finance costs 8 8,357 11,118
Taxation 9 (5,000) (2,300)
Depreciation of property, plant and equipment 11 19,333 17,865
Amortisation expense 10 4,474 4,743
Impairment of property, plant and equipment 11 14 1,023
Exceptional item — IPO costs 23 3,542
Earnings before interest, taxation, depreciation, amortisation, impairment and exceptional item (EBITDA) 22,007 9,228

Note:
A reverse acquisition took place on 9 February 2010. The financial information for the comparative period has been presented as if Ocado Group plc had been the parent company of the Group throughout (see Notes 2(a) and 2(b)).