Summary Income Statement

DS Smith Plc Continuing Operations

Continuing operations £m  2019 2020   2021 2022 2023
Revenue 6,171 6,043 5,976 7,241 8,221
Operating costs (5,540) (5,383) (5,474) (6,625) (7,360)
Operating profit 1 631 660 502 616 861
Amortisation (114) (143) (142) (138) (128)
Share of (loss)/profit of equity-accounted investments 9 7 5 7 2
Net financing costs before adjusting items (71) (87) (78) (70) (74)
Profit before taxation and adjusting items 455 437 287 415 676
Acquisitions and divestments (32) (4) (5) 2 (15)
Other adjusting items
(73) (65) (51) (39) 0
Profit before income tax
350 368 231 378 661
Income tax expense
(88) (78) (49) (98) (169)
Profit for the year from continuing operations
262 290 182 280 492
Profit for the year from discontinued operations, net of tax 12 237 12 - 11
Profit for the year 274 527 194 280 503
           
Profit for the year attributable to:
         
Owners of the parent
274
527
194 280 502
Non-controlling interests - - - - 1

1. Before amortisation and adjusting items.

2. The Group adopted IFRS 16 on 1 May 2019 using the modified retrospective approach and practical expedients available. As per the specific transitional arrangements in the standard, comparative information has not been restated.