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For the 12 months ended 30 June

Note 2019
£m
2018
£m
Revenue 2,112 1,920
Cost of sales (1,608) (1,451)
Gross profit 504 469
Administrative expenses (93) (87)
Operating profit 2 411 382
Financial income 3 3 3
Financial costs 3 (8) (10)
Net financing costs (5) (7)
Share of profit of joint ventures after interest and taxation 10 - 5
Profit before tax 406 380
Income tax expense 4 (77) (72)
Profit for the period 329 308
Earnings per share - basic 6 92.3p 85.3p
- diluted 6 92.0p 85.2p
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