Financial Analysis

Historic Trends


2010
£m

2009
£m

2008
£m

2007**
£m

2006**
£m
Results
Revenue 2,164.4 2,103.3 1,763.6 1,504.6 1,343.9
Operating profit 179.1 202.4 192.3 180.9 112.5
Net finance (costs)/income (51.2) (31.4) (23.6) 0.7 (15.9)
Profit before taxation 125.9 170.8 167.3 184.1 91.5
Tax (charge)/credit (18.1) (37.3) 61.9 (43.6) (20.3)
Profit attributable to equity shareholders of the parent 111.7 133.5 249.1 277.3 115.4
 
Net assets/(liabilities)
Non-current assets 994.7 992.9 880.7 779.4 893.4
Current assets 627.2 517.2 502.0 669.1 395.3
Current liabilities (excluding provisions) (598.5) (893.7) (558.1) (445.1) (438.2)
Non-current liabilities (excluding provisions) (875.1) (486.1) (625.0) (382.7) (529.0)
Provisions (135.6) (139.9) (119.2) (108.4) (109.9)
Total equity (12.7) (9.6) 80.4 512.3 211.6
 
Cash and debt
Cash at bank and in hand 375.7 277.3 262.2 513.3 198.5
Gross debt*** (672.4) (617.4) (581.9) (326.9) (334.4)
Net (debt)/funds*** (296.7) (340.1) (319.7) 186.4 (135.9)
 
Cash flow
Net cash flow from operating activities after tax 216.4 277.8 325.0 162.3 175.5
 
Ratios
Adjusted earnings per ordinary share* 18.7p 22.9p 20.3p 11.7p 10.6p
Dividends per ordinary share 6.5p 6.0p 5.4p 4.1p 3.7p
 
Net cash from operating activities after tax per ordinary share 30.2p 38.9p 45.1p 14.9p 16.3p
 
Ordinary shares in issue at year end 720.1m 719.5m 718.1m 1,101.0m 1,093.6m

*before intangible asset expenses and exceptional items

**discontinued operations as defined under IFRS accounting are excluded from operating profit for 2007 and 2006 (London bus and New Zealand businesses).

*** as defined in note 38 to the consolidated financial statements.

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