Summary Income Statement

DS Smith Plc Continuing Operations

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