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Financial Summary
| As reported under Adopted IFRS |
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2009 |
2008 |
2007 |
2006 |
2005 |
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£m |
£m |
£m |
£m |
£m |
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| Revenue |
2,361.3 |
2,164.7 |
1,993.1 |
1,809.3 |
1,651.5 |
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| Underlying operating profit1 |
59.5 |
52.4 |
45.5 |
42.0 |
39.3 |
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| Net financing costs |
(18.3) |
(10.8) |
(9.9) |
(9.7) |
(9.9) |
| Profit before tax1 |
41.3 |
36.7 |
32.6 |
31.3 |
27.6 |
| Underlying profit after tax for the year1 |
20.0 |
28.4 |
24.4 |
22.0 |
18.6 |
| Underlying earning per share1 |
28.7p |
24.3p |
21.0p |
19.2p |
16.3p |
| Dividend per share |
14.91p |
14.91p |
13.55p |
12.54p |
11.4p |
| Dividend cover2 |
1.66x |
1.63x |
1.55x |
1.53x |
1.43x |
| Interest cover2 |
3.3x |
4.9x |
4.6x |
4.3x |
4.0x |
| Net debt |
(176.4) |
(104.5) |
(65.8) |
(60.6) |
(56.5) |
| Capital employed3 |
93.8 |
104.0 |
82.5 |
119.7* |
132.1 |
| Return on capital employed3 |
63.4% |
50.4% |
55.2% |
35.1% |
29.8% |
| Free cash flow4 |
57.4 |
48.3 |
72.2 |
55.4 |
52.6 |
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(1) Operating profit, and hence profit before and after tax is reported on an underlying basis, i.e. before amortisation of acquired intangibles and any goodwill impairment and exceptionals and in respect of profit before and after tax, including results of associates. Underlying earnings per share is calculated on the same basis.
(2) Dividend cover is based on the underlying earnings per share as defined above and the dividend per share above. Interest cover is calculated using operating profit as defined above.
(3) Capital employed is defined as net assets/(liabilities) adjusted for goodwill, acquired intangibles, investments in associates, debt, tax, employee benefits and insurance provisions. Return on capital employed is calculated as underlying operating profit over capital employed.
(4) Free cash flow comprises EBITDA plus working capital and net capital expenditure flows.
(*) Restated due to change on acquisition (see note 22, Annual Report and Accounts 2007). |
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