Header  
 
   
 
 
 
  1995
£ million 		1996
£ million 		1997
£ million 		1998
£ million

1999
£ million
 
Turnover          
Parent and subsidiaries 2,177.8 2,528.9 2,423.2 3,138.8 3,385.4
Share of joint ventures 97.1 156.7 156.9 128.8 -
 
Total 2,274.9 2,685.6 2,580.1 3,267.6 3,385.4
 
Operating profit before exceptional items
and goodwill amortisation		 100.4 111.0 116.3 139.2 147.1
Goodwill amortisation – - - - -
Exceptional items – - - (4.5) (1.9)
 
Total operating profit 100.4 111.0 116.3 134.7 145.2
Other exceptional items (0.7) - - 4.4 8.8
 
Profit before interest 99.7 111.0 116.3 139.1 154.0
Net interest (4.3) (8.8) (8.0) (9.0) (15.9)
Net return on retirement benefits assets and liabilities - - - - -
 
Profit before taxation 95.4 102.2 108.3 130.1 138.1
Taxation (34.3) (34.3) (33.0) (28.5) (35.1)
 
Profit after taxation 61.1 67.9 75.3 101.6 103.0
Minority interests (1.0) (1.7) (1.2) (0.3) 0.7
 
Profit attributable to shareholders 60.1 66.2 74.1 101.3 103.7
Dividends (25.9) (31.4) (33.6) (38.7) (41.3)
 
Profit retained 34.2 34.8 40.5 62.6 62.4
 
Earnings per ordinary share (graph 2) 30.9p 32.5p 34.2p 46.7p 47.8p
Earnings per ordinary share before exceptional items and goodwill amortisation (graph 1) 31.2p 32.5p 34.2p 42.8p 42.8p
           
Dividend per ordinary share (graph 3) 13.5p 14.5p 15.5p 17.8p 19.0p
           
Summary Balance Sheet
Assets employed:		          
Goodwill - - - - 4.2
Tangible fixed assets 256.1 321.7 337.7 461.5 480.2
Fixed assets investments / joint ventures / associates 70.9 100.4 84.2 4.2 1.8
Stocks 153.2 196.6 184.7 244.8 243.7
Debtors and short term investments 190.9 231.7 252.5 379.8 434.0
Other creditors and provisions (223.4) (304.0) (291.1) (409.8) (418.8)
Retirement benefits net assets / (liabilities) - - - - -
 
  447.7 546.4 568.0 680.5 745.1
 
Financed by:          
Net borrowings and finance leases / (cash) 102.4 134.2 143.7 225.1 221.6
Retained earnings 151.6 99.8 107.8 130.9 200.9
Share capital, share premium, capital redemption and shares held in ESOTs 195.7 313.1 316.3 318.4 316.8
Minority interests (2.0) (0.7) 0.2 6.1 5.8
 
Capital employed 447.7 546.4 568.0 680.5 745.1
 
Cumulative goodwill taken directly to reserves 57.5 150.3 156.3 171.4 171.4
Return on assets 21.3% 18.5% 16.4% 17.7% 16.6%
(Operating profit before exceptional items and goodwill amortisation /average capital employed and cumulative goodwill taken directly to reserves)          
           
   
 
  2000
£ million 		2001
£ million 		2002
£ million 		2003
£ million

2004
£ million
 
Turnover          
Parent and subsidiaries 3,866.0 5,903.7 4,830.1 4,323.9 4,492.9
Share of joint ventures - - - - -
 
Total 3,866.0 5,903.7 4,830.1 4,323.9 4,492.9
 
Operating profit before exceptional items
and goodwill amortisation		 146.2 175.0 193.3 189.2 206.0
Goodwill amortisation (0.2) (0.3) (6.8) (13.7) (19.8)
Exceptional items (9.8) (0.6) (18.1) (7.6) 2.1
 
Total operating profit 136.2 174.1 168.4 167.9 188.3
Other exceptional items 23.4 1.1 (5.6) 4.9 -
 
Profit before interest 159.6 175.2 162.8 172.8 188.3
Net interest (2.4) 5.3 (6.1) (13.2) (16.3)
Net return on retirement benefits assets and liabilities - - - 13.9 6.0
 
Profit before taxation 157.2 180.5 156.7 173.5 178.0
Taxation (47.3) (54.2) (50.2) (53.7) (57.9)
 
Profit after taxation 109.9 126.3 106.5 119.8 120.1
Minority interests (0.2) (0.6) 0.3 0.4 1.7
 
Profit attributable to shareholders 109.7 125.7 106.8 120.2 121.8
Dividends (44.3) (51.3) (53.2) (55.5) (57.4)
 
Profit retained 65.4 74.4 53.6 64.7 64.4
 
Earnings per ordinary share (graph 2) 50.5p 57.3p 49.0p 55.4p 56.0p
Earnings per ordinary share before exceptional items and goodwill amortisation (graph 1) 46.6p 57.2p 60.4p 61.8p 64.0p
           
Dividend per ordinary share (graph 3) 20.3p 23.3p 24.6p 25.5p 26.4p
           
Summary Balance Sheet
Assets employed:		          
Goodwill 5.1 8.6 182.6 373.4 377.1
Tangible fixed assets 311.3 386.8 495.1 601.1 608.1
Fixed assets investments / joint ventures / associates 1.0 1.0 2.7 6.4 5.5
Stocks 253.2 278.8 414.3 438.4 417.3
Debtors and short term investments 434.7 522.9 456.0 367.2 389.0
Other creditors and provisions (452.5) (534.7) (584.4) (560.5) (534.4)
Retirement benefits net assets / (liabilities) - - - (25.4) 3.5
 
  552.8 663.4 966.3 1,200.6 1,266.1
 
Financed by:          
Net borrowings and finance leases / (cash) (165.8) (139.9) 159.0 402.5 394.5
Retained earnings 389.2 465.9 466.4 445.9 528.4
Share capital, share premium, capital redemption and shares held in ESOTs 324.9 332.8 337.0 341.4 333.8
Minority interests 4.5 4.6 3.9 10.8 9.4
 
Capital employed 552.8 663.4 966.3 1,200.6 1,266.1
 
Cumulative goodwill taken directly to reserves 46.0 46.0 46.0 40.6 40.6
Return on assets 19.3% 26.8% 22.5% 16.8% 16.2%
(Operating profit before exceptional items and goodwill amortisation /average capital employed and cumulative goodwill taken directly to reserves)          
           
  Figures for 2003 have been restated for the adoption of FRS 17 – ‘Retirement Benefits’. Prior year figures have not been restated for FRS 17 because comparatives are not available. Apart from this, 2003 and prior years have been restated to reflect all changes in accounting policies.
   
1. Earnings Per Share Before Exceptional Items and Goodwill Amortisation
 
   
2. Earnings Per Share
 
   
3. Dividend Per Share
 
   
 
   
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