Discontinued operation represents 38% of loss for year UK building materials distributor Wolseley classifies a US business as discontinued whose trading losses and loss on disposal together represent 38% of a £1.2 billion post-tax loss for the year.
Cashbox vehicle company used to create distributable reserves UK building materials distributor Wolseleyuses a cashbox vehicle company to create £720 million distributable reserves through a rights issue.
Pension scheme restrictions increase pre-tax profit by 22%
UK electronics company Electrocomponents recognises in the income statement pension curtailment and past service gains that together reduce its pension deficit by half and increase pre-tax profit by 22%, with past service credit recognised immediately on expiry of a window for early retirement.