Five Year Financial Record
Group Financial Record under IFRS 2004-2007
|
|
2007
£m |
2006‡
£m |
2005†
£m |
2004†
£m |
| Consolidated income statements |
|
|
|
|
| Sales — continuing subsidiaries |
3,869 |
3,634 |
3,648 |
3,481 |
| Trading profit |
277 |
251 |
229 |
215 |
| Restructuring and impairment charges |
(31) |
(74) |
(98) |
(262) |
| Amortisation of non-operating intangible assets arising on business combinations |
(8) |
(3) |
(1) |
(1) |
| Profits and losses on sale or closures of businesses |
(7) |
(4) |
1 |
24 |
| Changes in fair value of derivative financial instruments |
(10) |
33 |
(33) |
— |
| Operating profit/(loss) |
221 |
203 |
98 |
(24) |
| Share of post-tax earnings of continuing joint ventures and associates |
24 |
17 |
10 |
16 |
| Net financing costs |
(46) |
(38) |
(35) |
(75) |
| Profit/(loss) before taxation from continuing operations |
199 |
182 |
73 |
(83) |
| Taxation |
(1) |
(5) |
(14) |
(32) |
| Profit/(loss) after taxation from continuing operations |
198 |
177 |
59 |
(115) |
| Share of post-tax earnings of joint ventures |
— |
— |
— |
62 |
| Profit on disposal of joint ventures after taxation |
— |
— |
— |
825 |
| Profit after taxation from discontinued operations |
— |
— |
— |
887 |
| Profit for the year |
198 |
177 |
59 |
772 |
| Less: profit attributable to minority interests |
(2) |
— |
(4) |
(3) |
| Profit attributable to equity shareholders |
196 |
177 |
55 |
769 |
| Earnings per share — p |
|
|
|
|
| As reported; |
27.9 |
25 |
7.7 |
105 |
| As adjusted* |
35.1 |
30.1 |
22.3 |
23.2 |
| Dividend per share — p |
13.5 |
12.8 |
12.2 |
11.9 |
| Consolidated balance sheets |
|
|
|
|
| Non-current assets |
|
|
|
|
| Intangible assets (including goodwill) |
416 |
356 |
295 |
248 |
| Property, plant and equipment |
1,462 |
1,354 |
1,364 |
1,286 |
| Investments in joint ventures |
100 |
83 |
81 |
94 |
| Deferred tax assets |
56 |
114 |
172 |
206 |
| Other non-current assets |
22 |
24 |
21 |
23 |
|
|
2,056 |
1,931 |
1,933 |
1,857 |
| Current assets |
|
|
|
|
| Inventories |
552 |
470 |
467 |
448 |
| Trade and other receivables |
571 |
520 |
566 |
576 |
| Cash and cash equivalents |
282 |
342 |
724 |
860 |
| Other (including assets held for sale) |
27 |
32 |
50 |
1 |
|
|
1,432 |
1,364 |
1,807 |
1,885 |
| Current liabilities |
|
|
|
|
| Borrowings |
(92) |
(39) |
(47) |
(54) |
| Trade and other payables |
(837) |
(743) |
(795) |
(796) |
| Current income tax liabilities |
(104) |
(93) |
(109) |
(128) |
| Other current liabilities (including liabilities associated with assets held for sale) |
(75) |
(77) |
(107) |
(36) |
|
|
(1,108) |
(952) |
(1,058) |
(1,014) |
| Non-current liabilities |
|
|
|
|
| Borrowings |
(696) |
(729) |
(734) |
(741) |
| Deferred tax liabilities |
(75) |
(63) |
(60) |
(84) |
| Other non-current liabilities |
(31) |
(29) |
(24) |
(17) |
| Provisions |
(51) |
(53) |
(78) |
(97) |
| Post-employment obligations |
(331) |
(561) |
(885) |
(854) |
|
|
(1,184) |
(1,435) |
(1,781) |
(1,793) |
| Net assets |
1,196 |
908 |
901 |
935 |
| Net (debt)/funds |
(506) |
(426) |
(65) |
65 |
* Adjusted earnings per share exclude the impact of restructuring and impairment costs, profits and losses on sale or closures of businesses, amortisation of non-operating intangible assets arising on business combinations and changes in fair value of derivative financial instruments.
† As restated for separate presentation of amortisation of non-operating intangibles.
‡ As restated for reclassification of the trading results of the UK cylinder liner manufacturing operation within the caption ‘profits and losses on sale or closures of businesses’.
Group Financial Record under UK GAAP 2003–2004
|
|
2004
£m |
2003
£m |
| Consolidated profit and loss accounts |
|
|
| Sales |
|
|
| Subsidiaries |
3,484 |
3,334 |
| Share of joint ventures and associates |
963 |
1,251 |
|
|
4,447 |
4,585 |
| Operating profit before goodwill amortisation and exceptional items |
|
|
| Subsidiaries |
162 |
168 |
| Share of joint ventures and associates |
106 |
134 |
|
|
268 |
302 |
| Net interest payable: |
|
|
| Subsidiaries |
(46) |
(56) |
| Share of joint ventures and associates |
(1) |
— |
| Profit before tax, goodwill amortisation and exceptional items |
221 |
246 |
| Goodwill amortisation |
(29) |
(37) |
| Exceptional items including goodwill impairment |
(250) |
(91) |
| Exceptional profits: Subsidiaries |
687 |
55 |
| Profit on ordinary activities before taxation |
629 |
173 |
| Taxation |
(49) |
(70) |
| Minority interests |
(3) |
(2) |
| Earnings of the year |
577 |
101 |
| Earnings per share — p |
78.8 |
13.8 |
| Earnings per share before goodwill amortisation and exceptional items — p |
21.3 |
22.8 |
| Dividend per share — p |
11.9 |
11.6 |
| Consolidated balance sheets |
|
|
| Tangible fixed assets |
1,278 |
1,329 |
| Stocks |
507 |
487 |
| Creditors less debtors |
(50) |
(136) |
| Net operating assets |
1,735 |
1,680 |
| Net funds/(borrowings) |
65 |
(793) |
| Intangible assets—goodwill |
197 |
340 |
| Fixed asset investments |
102 |
292 |
| Taxation and dividend payable |
(185) |
(222) |
| Provisions for liabilities and charges |
(424) |
(355) |
| Net assets |
1,490 |
942 |