Notes to the financial statements
7 Non GAAP performance measures
The adjustments made to reported profit before tax to arrive at underlying profit before tax are:
| 2008 £m |
2007 £m |
|
|---|---|---|
| Profit on sale of properties | 7 | 7 |
| Financing fair value movements | (4) | 8 |
One-off items for the financial year comprised: |
||
| Costs relating to approach from Delta Two | (7) | – |
| Costs associated with Office of Fair Trading dairy inquiry | (27) | – |
| Fair value gain on other financial asset | 22 | – |
| Profit on part disposal of Sainsbury’s Bank | - | 10 |
| Past service gains on defined benefit schemes (notes 6 and 31) | - | 72 |
| Total one-off items | (12) | 82 |
| Total non GAAP performance measures | (9) | 97 |
Profit on sale of properties
Includes all Group gains or losses on the sale of properties.
Financing fair value movements
Fair value movements relate to fair value adjustments on derivatives relating to financing activities and hedged items in fair value hedges.
Costs relating to approach from Delta Two
The Group has incurred £7 million of costs in relation to the approach from Delta Two.
Costs associated with Office of Fair Trading dairy inquiry
The Group has incurred £27 million of costs associated with the Office of Fair Trading dairy inquiry.
Fair value gain on other financial asset
During the year the Group recognised a £22 million fair value gain on a financial asset. This asset was disposed of during the financial year.