- Financial Statements
Five Year Review
Page turn
| 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.