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Group Financial Record

For the year ended 31 December 2008

Non-current liabilities          
  2008 £m 2007 £m 2006‡ £m 2005† £m 2004† £m
Consolidated income statements          
Sales — continuing subsidiaries 4,376 3,869 3,634 3,648 3,481
Trading profit 201 277 251 229 215
Restructuring and impairment charges (153) (31) (74) (98) (262)
Amortisation of non-operating intangible assets arising on business combinations (10) (8) (3) (1) (1)
Profits and losses on sale or closures of businesses (7) (4) 1 24
Change in value of derivative and other financial instruments (124) (10) 33 (33)
Operating profit/(loss) (86) 221 203 98 (24)
Share of post-tax earnings of continuing joint ventures and associates 6 24 17 10 16
Net financing costs (50) (46) (38) (35) (75)
Profit/(loss) before taxation from continuing operations (130) 199 182 73 (83)
Taxation 10 (1) (5) (14) (32)
Profit/(loss) after taxation from continuing operations (120) 198 177 59 (115)
Share of post-tax earnings of joint ventures 62
Profit on disposal of joint ventures after taxation 13 825
Profit/(loss) after taxation from discontinued operations 13 887
Profit/(loss) for the year (107) 198 177 59 772
Less: profit attributable to minority interests (2) (2) (4) (3)
Profit/(loss) attributable to equity shareholders (109) 196 177 55 769
Profit before taxation from continuing operations — adjusted* 167 255 230 204 156
Earnings per share — p          
As reported (17.3) 27.9 25.0 7.7 (16.1)
As adjusted* 23.8 35.1 30.1 22.3 23.2
Dividend per share — p 4.5 13.5 12.8 12.2 11.9
           
Consolidated balance sheets          
Non-current assets          
Intangible assets (including goodwill) 520 416 356 295 248
Property, plant and equipment 1,797 1,462 1,354 1,364 1,286
Investments in joint ventures 119 100 83 81 94
Deferred tax assets 52 56 114 172 206
Other non-current assets 23 22 24 21 23
  2,511 2,056 1,931 1,933 1,857
Current assets          
Inventories 718 552 470 467 448
Trade and other receivables 645 571 520 566 576
Cash and cash equivalents 114 282 342 724 860
Other (including assets held for sale) 79 27 32 50 1
  1,556 1,432 1,364 1,807 1,885
Current liabilities          
Borrowings (97) (92) (39) (47) (54)
Trade and other payables (972) (837) (743) (795) (796)
Current income tax liabilities (115) (104) (93) (109) (128)
Other current liabilities (including liabilities
associated with assets held for sale)

(239)

(75)

(77)

(107)

(36)
  (1,423) (1,108) (952) (1,058) (1,014)
Non-current liabilities          
Borrowings(725)(696)(729)(734)(741)
Deferred tax liabilities(63)(75)(63)(60)(84)
Other non-current liabilities(40)(31)(29)(24)(17)
Provisions(54)(51)(53)(78)(97)
Post-employment obligations(834)(331)(561)(885)(854)
 (1,716)(1,184)(1,435)(1,781)(1,793)
Net assets928 1,196908901935
Net (debt)/funds(708)(506)(426)(65)65

* Adjusted profit before taxation and earnings per share excludes the impact of restructuring and impairment charges, profits and losses on sale or closures of businesses, amortisation of non-operating intangible assets arising on business combinations, change in value of derivative and other financial instruments and discontinued operations.
† 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’.

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