Summary Income Statement
DS Smith Plc Continuing Operations
| Continuing operations £m | 2018 | 2019 | 2020 | 2021 | 2022 |
| Revenue | 5,518 | 6,171 | 6,043 | 5,976 | 7,241 |
| Operating costs | (5,026) | (5,540) | (5,383) | (5,474) | (6,625) |
| Operating profit 1 | 492 | 631 | 660 | 502 | 616 |
| Amortisation | (90) | (114) | (143) | (142) | (138) |
| Share of (loss)/profit of equity-accounted investments | 5 | 9 | 7 | 5 | 7 |
| Net financing costs before adjusting items | (62) | (71) | (87) | (78) | (70) |
| Profit before taxation and adjusting items | 345 | 455 | 437 | 287 | 415 |
| Acquisitions and divestments | (28) | (32) | (4) | (5) | 2 |
| Other adjusting items |
(57) | (73) | (65) | (51) | (39) |
| Profit before income tax |
260 | 350 | 368 | 231 | 378 |
| Income tax expense |
(23) | (88) | (78) | (49) | (98) |
| Profit for the year from continuing operations |
237 | 262 | 290 | 182 | 280 |
| Profit for the year from discontinued operations, net of tax | 22 | 12 | 237 | 12 | - |
| Profit for the year | 259 | 274 | 527 | 194 | 280 |
| Profit for the year attributable to: |
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| Owners of the parent |
259 |
274 |
527 |
194 | 280 |
| Non-controlling interests | - | - | - | - | - |
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.