Share Price
31 Jul 2010
Delayed by 15 minutes

43.75p +2.00p

5 Year Record

 

 

2006

2007

2008

2009

2010

Continuing operations:
Consolidated income statement
Revenue

£m

862.0

888.5

931.9

975.2

977.0

Profit from operations*††
Operating margin*††

£m
%

55.4
6.4

45.7
5.1

48.4
5.2

52.7
5.4

54.6 
5.6

Net finance (expense)/income*††

£m

(22.4)

(5.7)

1.7

(5.2)

(20.6)

Profit before taxation*

£m

33.0

40.0

50.1

47.5

34.0

Profit after taxation*†

£m

27.7

31.9

38.4

28.4

35.9

Earnings per share
Adjusted earnings per share

pence

5.68

6.52

7.88

7.76

6.17

Return on operating assets Average net operating assets
Return on net assets

£m
%

407.3
13.6

375.6
12.2

353.1
13.7

357.4
14.7

325.6
16.8

Return on invested capital††‡
Profit from operations*

£m

 

 45.7

48.4

52.7

54.6

Average invested capital

£m

 

 448.2

442.0

450.4

438.8

Return on continuing average invested capital

%

 

 10.2

11.0

11.7

12.4
 

 

Discontinued operations:
Consolidated income statement
Revenue

£m

576.2

317.4

-

-

-

Profit from operations*

£m

12.1

1.3

-

-

-
 

 

Continuing and discontinued operations (as reported):
Earnings per share

 

 

 

 

 

 

Adjusted earnings per share

pence

7.77

6.72

7.88

7.76

6.17

Earnings per share

pence

(1.03)

(4.60)

7.08

0.54

2.98

Dividend per share
Dividend cover*
EBITDA: Debt*#

pence
times
times

4.25
1.8
2.7

4.25
1.6
2.0

4.50
1.8
2.2

4.50
1.7
2.2

4.50
1.4
1.9 

Capital expenditure

£m

55.3

28.1

19.3

30.4

30.0

Invested capital
Net equity
(Less surplus)/add back deficit on retirement benefit schemes
(Less deferred tax asset)/add back deferred tax liability on retirement benefit schemes


£m
£m
£m


152.1
90.2
(26.4)


121.2
8.6
(6.5)


165.4
(61.6)
15.8


54.1
71.5
(19.7)


(20.2) 
149.7
(41.0)

Adjusted net equity
Net debt

£m
£m

215.9
363.1

123.3
174.2

119.6
200.2

105.9
206.7

88.5
183.0

Trading capital employed
Accumulated goodwill written off

£m
£m

579.0
211.0

297.5
116.6

319.8
116.6

312.6
116.6

271.5 
116.6

Total invested capital

£m

790.0

414.1

436.4

429.2

388.1 

Total invested capital excluding net debt

£m

426.9

239.9

236.2

222.5

205.1 

Return on invested capital
Profit from operations*††

£m

67.5

47.0

48.4 

52.7

54.6

Average invested capital

£m

801.9

602.1

425.3

432.8

408.7

Return on average invested capital

%

8.4

7.8

11.4

12.2

13.4 


 

* Stated before restructuring items.

† The effective taxation rate for continuing operations for each period has been assumed to be the same as that for the Group.

‡ Continuing return on invested capital is calculated using continuing profit from operations divided by continuing average invested capital. Continuing average invested capital has been calculated using a 13 month average (used for Performance share plan). This includes the benefit of asset impairments.

†† Restated for the change in presentation of the pensions finance (charge)/credit from within profit from operations to net finance costs.

# Restated to reflect that the current covenant is under IFRS rather than UK GAAP.