|Year Ending March||2012||2011||2010||2009||2008||2007||2006||2005|
|Underlying PBT (£M)||712||665||610||519||434||339||267||238|
|YoY % Change||7.1%||9.0%||17.5%||19.6%||28.0%||27.0%||12.2%||-64.7%|
But wait a second, check out that figure on the bottom right of the table - underlying profit before tax has dropped 64.7% in 2004/05 from the previous year. If you were look back further, the results are somewhat mixed:
|Year Ending March||2004||2003||2002||2001||2000||1999||1998|
|Underlying PBT (£M)||675||695||627||549||580||756||728|
|YoY % Change||-2.9%||10.8%||14.2%||-5.3%||-23.3%||3.8%|
What this shows is that the 2004/05 underlying PBT figures are the lowest out of the fifteen years of data. It then becomes apparent why Pay Up have chosen this year, as profits being lower now than they were in the late 90's doesn't make for as good a campaigning fact.