Historic Trends
| IFRS | 2007 £m |
2006 £m |
2005 £m |
2004
pro forma £m |
|---|---|---|---|---|
| Income | ||||
| Revenue (including share of joint ventures and associates) | 7,488 | 5,506 | 4,590 | 3,942 |
| Profit from continuing operations before exceptional items and amortisation of intangible assets | 191 | 128 | 98 | 82 |
| Net investment income before exceptional items | 10 | 8 | 19 | 13 |
| Profit before taxation, exceptional items and amortisation of intangible assets | 201 | 136 | 117 | 95 |
| Exceptional items | (35) | (26) | 7 | (1) |
| Amortisation of intangible assets | (9) | (1) | – | – |
| Profit from continuing operations before taxation | 157 | 109 | 124 | 94 |
| Taxation on profit from continuing operations | 12 | (34) | (35) | (28) |
| (Loss)/profit from discontinued operations after taxation | (18) | 16 | 17 | 180 |
| Profit for the year attributable to equity shareholders | 151 | 91 | 106 | 246 |
| Capital employed | ||||
| Equity shareholders’ funds | 483 | 387 | 292 | 227 |
| Liability component of preference shares | 87 | 90 | 98 | 103 |
| Net cash | (313) | (284) | (301) | (67) |
| 257 | 193 | 89 | 263 | |
| Statistics | ||||
| Adjusted earnings per ordinary share* | 35.0p | 27.3p | 24.1p | 22.1p |
| Basic earnings per ordinary share | 35.1p | 21.2p | 24.9p | 58.7p |
| Diluted earnings per ordinary share | 34.8p | 21.0p | 24.7p | 58.1p |
| Proposed dividends per ordinary share | 11.5p | 9.1p | 8.1p | 6.6p |
| Profit from continuing operations before exceptional items and amortisation as a percentage of revenue | 2.6% | 2.3% | 2.1% | 2.1% |
Dividends per ordinary share for 2003 were 6.0p.
Notes
Figures for the four years ended 31 December 2007 shown above were prepared under International Financial Reporting Standards (IFRS) with pro forma figures shown for the year ended 31 December 2004 which include the impact of IAS 32 and IAS 39 as if the Group had adopted them for that year.
The Company’s annual report and accounts for 2004 and prior years were prepared under UK generally accepted accounting principles (UK GAAP) and as these results are not comparable with results under IFRS, they are not presented above.
An explanation of the transition from UK GAAP to IFRS and reconciliations showing the effect of changes in presentation and accounting policies arising from the adoption of IFRS on the figures prepared under UK GAAP for the year ended 31 December 2004 are set out in Note 37 of the Company’s annual report and accounts 2005.
*Adjusted earnings per ordinary share before exceptional items and amortisation of intangible assets, and including the results of discontinued operations, have been disclosed to give a clearer understanding of the Group’s underlying trading performance.
| UK GAAP |
2004 £m |
2003 as restated £m |
2002 as restated £m |
|---|---|---|---|
| Profits | |||
| Turnover (including share of joint ventures and associates) | 4,171 | 3,678 | 3,441 |
| Operating profit – before goodwill amortisation and exceptional items | 173 | 161 | 149 |
| Goodwill amortisation and impairment | (35) | (17) | (21) |
| Exceptional items | 142 | 5 | (9) |
| Profit on ordinary activities before interest | 280 | 149 | 119 |
| Net interest payable | (23) | (31) | (31) |
| Profit before taxation | 257 | 118 | 88 |
| Capital employed | |||
| Shareholders’ funds | 413 | 231 | 192 |
| Net cash | (67) | (124) | (67) |
| 346 | 107 | 125 | |
| Statistics | |||
| Adjusted earnings per ordinary share** | 23.4p | 20.6p | 16.1p |
| Basic earnings per ordinary share | 43.8p | 16.9p | 8.5p |
| Diluted earnings per ordinary share | 43.4p | 16.7p | 8.4p |
| Proposed dividends per ordinary share | 6.6p | 6.0p | 5.4p |
| Operating profit before goodwill amortisation and exceptional items: turnover | 4.2% | 4.4% | 4.3% |
Notes
Figures for the three years ended 31 December 2004 shown above were prepared under UK generally accepted accounting principles (UK GAAP) as applied
in the Company’s annual report and accounts 2004. An explanation of the transition from UK GAAP to IFRS and reconciliations showing the effects of changes
in presentation and accounting policies arising from the adoption of IFRS are set out in Note 37 of the Company’s annual report and accounts 2005.
**Adjusted earnings per ordinary share before goodwill amortisation and impairment, exceptional items and appropriations arising on the buy-back of preference shares have been disclosed to give a clearer understanding of the Group’s underlying trading performance.
| UK GAAP |
2004 £m |
2003 as restated £m |
2002 as restated £m |
|---|---|---|---|
| Profits | |||
| Turnover (including share of joint ventures and associates) | 4,171 | 3,678 | 3,441 |
| Operating profit – before goodwill amortisation and exceptional items | 173 | 161 | 149 |
| Goodwill amortisation and impairment | (35) | (17) | (21) |
| Exceptional items | 142 | 5 | (9) |
| Profit on ordinary activities before interest | 280 | 149 | 119 |
| Net interest payable | (23) | (31) | (31) |
| Profit before taxation | 257 | 118 | 88 |
| Capital employed | |||
| Shareholders’ funds | 413 | 231 | 192 |
| Net cash | (67) | (124) | (67) |
| 346 | 107 | 125 | |
| Statistics | |||
| Adjusted earnings per ordinary share** | 23.4p | 20.6p | 16.1p |
| Basic earnings per ordinary share | 43.8p | 16.9p | 8.5p |
| Diluted earnings per ordinary share | 43.4p | 16.7p | 8.4p |
| Proposed dividends per ordinary share | 6.6p | 6.0p | 5.4p |
| Operating profit before goodwill amortisation and exceptional items: turnover | 4.2% | 4.4% | 4.3% |
Notes
Figures for the three years ended 31 December 2004 shown above were prepared under UK generally accepted accounting principles (UK GAAP) as applied
in the Company’s annual report and accounts 2004. An explanation of the transition from UK GAAP to IFRS and reconciliations showing the effects of changes
in presentation and accounting policies arising from the adoption of IFRS are set out in Note 37 of the Company’s annual report and accounts 2005.
**Adjusted earnings per ordinary share before goodwill amortisation and impairment, exceptional items and appropriations arising on the buy-back of preference shares have been disclosed to give a clearer understanding of the Group’s underlying trading performance.
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