Key performance indicators

The Group tracks its performance using 2 operating key performance indicators (“KPI”s), 3 financial KPIs and 4 funding targets that the Board believes are key indicators of its progress against its strategic and financial targets. In addition, the Group has a number of guidance measures at a group, divisional and business level, details of which are set out in the business and finance reviews on pages 24 to 37. In 2014, in order to ensure greater consistency throughout the Group, the Group’s KPIs were reviewed and an additional 3 funding targets were included.

Operating Key Performance Indicators ("KPIs")

Like-for-like sales growth (%)

Adjusted operating profit (£m)

Financial Key Performance Indicators

Lease adjusted return on capital employed (%)

Adjusted earnings per share (p)

Free cash flow (£m)

Funding Targets

Dividend cover (times)

Fixed charge cover (times)

Leverage ratio (times)

Net debt (£m)