Income statement

2012
(52 weeks)
£m

2011
(52 weeks)
£m

2010
(52 weeks)
£m

2009
(52 weeks)
£m

2008
(53 weeks)
£m

Revenue

1,140.4

1,042.7

984.1

954.6

960.5

Operating profit before exceptionals

236.2

222.0

211.3

216.2

236.2

Profit before taxation and exceptionals

152.0

140.0

123.0

118.5

142.0

Profit before taxation

125.1

116.8

101.9

54.3

147.9

Basic earnings per share 1

47.6p

49.7p

37.8p

29.5p

89.9p

Adjusted basic earnings per share 1

53.0p

48.2p

43.4p

53.4p

59.4p

Adjusted dividend per share 1

24.8p

23.1p

21.5p

21.0p

20.9p

Adjusted operating profit/revenue

20.7%

21.3%

21.5%

22.6%

24.6%

Adjusted tax expense/profit before tax

25.0%

26.0%

25.5%

25.0%

28.0%

Adjusted interest cover (times)

2.7

2.7

2.4

2.2

2.5

Adjusted dividend cover (times)

2.1

2.1

2.0

2.5

2.8

1 All relevant years adjusted for the bonus element of the 2009 rights issue.

Balance sheet

£m

£m

£m

£m

£m

Property, plant and equipment

2,191.3

2,094.9

2,012.7

1,997.3

2,057.9

Goodwill

729.3

705.8

679.7

673.8

673.8

Financial assets

39.0

40.4

41.8

40.3

34.8

Property, plant and equipment held for sale

6.2

3.7

—

—

—

Working capital

(168.6)

(164.5)

(152.5)

(143.5)

(150.2)

Derivatives

(200.8)

(116.3)

(108.8)

(144.5)

(5.5)

Provisions

(157.9)

(172.9)

(211.9)

(221.4)

(256.6)

Net debt

(1,493.2)

(1,410.2)

(1,348.1)

(1,558.6)

(1,605.5)

Net assets

945.3

980.9

912.9

643.4

748.7

Gearing

158%

144%

148%

242%

214%

Cash flow and investment

£m

£m

£m

£m

£m

EBITDA before exceptionals

292.0

276.6

264.4

267.3

283.3

Cash inflow from operations

282.0

279.2

276.3

260.9

276.0

Interest, tax and dividends

(167.1)

(163.5)

(157.6)

(154.3)

(145.7)

Capital expenditure

(126.8)

(96.2)

(76.0)

(95.5)

(98.3)

Proceeds from sales of property, plant and equipment

29.9

27.8

27.2

44.2

41.4

Trade loans and investments

2.2

1.5

(1.2)

(6.0)

(0.4)

Acquisitions

(70.8)

(60.5)

(61.6)

—

(82.6)

Other

(32.4)

(50.4)

203.4

(2.4)

(160.4)

(Increase)/decrease in debt

(83.0)

(62.1)

210.5

46.9

(170.0)


Adjusted earnings per share, operating profit, taxation, interest cover and dividend cover exclude the effect of exceptional items.