Financial Analysis

Five Year Summary

2011
£m
2010
£m
2009
£m
2008
£m
2007**
£m
Results
Revenue 2,389.8 2,164.4 2,103.3 1,763.6 1,504.6
Operating profit 225.0 179.1 202.4 192.3 180.9
Net finance (costs)/income (34.5) (51.2) (31.4) (23.6) 0.7
Profit before taxation 191.2 125.9 170.8 167.3 184.1
Tax (charge)/credit (33.3) (18.1) (37.3) 61.9 (43.6)
Profit attributable to equity shareholders of the parent 176.4 111.7 133.5 249.1 277.3
Net assets/(liabilities)
Non-current assets 1,167.8 994.7 992.9 880.7 779.4
Current assets 658.6 627.2 517.2 502.0 669.1
Current liabilities (excluding provisions) (612.6) (598.5) (893.7) (558.1) (445.1)
Non-current liabilities (excluding provisions) (784.1) (875.1) (486.1) (625.0) (382.7)
Provisions (183.5) (135.6) (139.9) (119.2) (108.4)
Total equity 246.2 12.7 (9.6) 80.4 512.3
Cash and debt
Cash at bank and in hand 358.3 375.7 277.3 262.2 513.3
Gross debt*** (639.2) (672.4) (617.4) (581.9) (326.9)
Net (debt)/funds*** (280.9) (296.7) (340.1) (319.7) 186.4
Cash flow
Net cash flow from operating activities after tax 231.8 216.4 277.8 325.0 162.3
Ratios
Adjusted earnings per ordinary share* 23.8p 18.7p 22.9p 20.3p 11.7p
Dividends per ordinary share 7.1p 6.5p 6.0p 5.4p 4.1p
Net cash from operating activities after tax per ordinary share 32.3p 30.2p 38.9p 45.1p 14.9p
Ordinary shares in issue at year end 720.1m 720.1m 719.5m 718.1m 1,101.0m

*before intangible asset expenses and exceptional items
**discontinued operations as defined under IFRS accounting are excluded from operating profit for 2007.
*** as defined in note 36 to the consolidated financial statements.

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