Five Year Review

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IFRS
2007
£m
IFRS
2006
£m
IFRS
2005
£m
IFRS
2004
£m
UK GAAP
2003
£m
Income Statement
Revenue 4,714.3 3,572.1 3,476.9 3,311.5 2,669.4
Profit on ordinary activities before exceptional items, finance costs and tax 472.3 469.8 475.0 487.7 364.2
Exceptional items (379.7) 24.8 (20)
Net finance costs (112.1) (64.2) (64.0) (108.6) (40.2)
(Loss)/profit for the financial year (19.5) 405.6 411.0 403.9 304.0
Taxation (177.2) (115.0) (124.5) (123.0) (101.5)
(Loss)/profit for the financial year (196.7) 290.6 286.5 280.9 202.5
           
Balance sheet          
Goodwill 699.8 363.1 363.9 363.2 356.7
Other intangible assets 120.5
Investment properties 160.2
Other fixed assets 39.0 25.5 24.4 24.2 33.6
Interests in joint ventures 59.9 56.2 92.1 87.0
Non-current loans and receivables 76.4 56.0 37.2 26.5
Deferred tax asset 117.7 95.4 101.2 71.1
Net current assets (excluding cash and debt) 4,683.0 2,261.0 2,097.8 1,936.7 2,041.6
Non-current creditors (excluding debt) and provisions (675.7) (360.4) (330.4) (266.1) (272.2)
Capital employed 5,120.6 2,496.8 2,386.2 2,242.6 2,319.9
Represented by:          
Called-up non-equity preference share capital 10.0
Called-up equity ordinary share capital 289.6 148.5 148.0 146.7 146.1
Share premium account 758.1 758.8 756.2 748.1 745.7
Merger relief reserve 1,934.2
Revaluation reserve 0.5 1.5 0.5 0.7 38.4
Capital redemption reserve 31.5 31.5 31.5 31.5 21.5
Other reserve 4.8 4.8 5.4 4.8 1.1
Share-based payment tax reserve 5.6 8.2 4.0 2.8
Translation reserve 3.7 (19.1) 29.9 (6.5)
Profit and loss account 957.1 1,214.3 1,006.8 832.5 627.8
Own shares (282.0) (45.0) (53.9) (57.8) (14.7)
Shareholders’ funds 3,703.1 2,103.5 1,928.4 1,702.8 1,575.9
Minority interests 2.1 2.0 0.9 1.0 1.1
Net debt 1,415.4 391.3 456.9 538.8 742.9
5,120.6 2,496.8 2,386.2 2,242.6 2,319.9
Statistics
Number of ordinary shares in issue at year end (millions) 1,158.3 594.2 591.9 586.6 584.2
Basic earnings per share (24.2p) 50.5p 50.6p 49.1p 36.0p
Dividends per ordinary share 15.75p 14.75p 13.4p 11.1p 8.9p
Equity shareholders’ funds per share 352.3 364.7 338.4p 290.3p 256.2p
Dividend cover (times) n/a 3.4 3.8 4.4 4.0
Net gearing 38.2% 18.6% 23.7% 31.6% 47.1%

The figures for 2004 were restated in 2005 in respect of the transition from UK GAAP to IFRS. The figures for 2003 above, have not been restated to an IFRS basis as it is not practicable to do so.

The figures for 2003 were restated in 2004 in respect of the change of accounting policy for retirement benefits to comply with FRS 17.

Dividends per ordinary share comprise the interim and final dividends declared for the year.