Financial Statements
Five year summary of consolidated figures
as at 31 March 2008
| IFRS 2008 £’000 |
IFRS 2007 £’000 |
IFRS 2006 £’000 |
IFRS 2005 £’000 |
UKGAAP 2004 £’000 |
|
|---|---|---|---|---|---|
| Income statement (total operations) | |||||
| Revenue | 517,297 | 483,195 | 463,835 | 366,537 | 324,196 |
| EBITDA | 65,312 | 63,110 | 69,423 | 58,089 | 43,519 |
| Adjusted Group profit from operations1 | 36,705 | 39,419 | 28,248 | 24,572 | 3,362 |
| Profit/(loss) from operations | 17,690 | 23,011 | (73,094) | 19,071 | (109,611) |
| Profit/(loss) after taxation | 18,776 | 23,391 | (71,232) | 17,484 | (118,354) |
| Balance sheet | |||||
| Goodwill, intangible assets and property, plant and equipment | 355,884 | 373,650 | 326,858 | 450,284 | 276,809 |
| Other operating liabilities | (142,489) | (57,531) | (54,288) | (50,871) | (30,179) |
| Net operating assets | 313,395 | 316,119 | 272,570 | 399,413 | 246,630 |
| Net non operating liabilities | (128,710) | (138,518) | (108,040) | (167,321) | (92,678) |
| Total equity | 184,685 | 177,601 | 164,530 | 232,092 | 153,952 |
| Cash flows | |||||
| Net cash flow from: | |||||
| Operating activities before taxation paid | 49,997 | 59,412 | 69,087 | 49,964 | 51,461 |
| Net interest payments and issue costs of long term loans | (11,164) | (12,664) | (8,472) | (11,132) | (6,677) |
| Taxation | – | (284) | (399) | (101) | – |
| Net investment in property, plant and equipment, intangible assets and investments |
(31,172) | (30,217) | (45,004) | (35,952) | (37,151) |
| Acquisitions | (700) | (43,064) | (4,024) | (108,894) | – |
| Disposals | – | – | 30,201 | 36,667 | – |
| Equity dividends paid | (11,540) | (7,356) | (4,784) | (1,390) | – |
| Bank loans, finance leases and new share issues | 5,700 | 52,199 | (52,710) | 92,438 | (13,004) |
| Increase/(decrease) in cash and cash equivalents | 1,121 | 18,026 | (16,105) | 21,600 | (5,371) |
| Ratios and other key information | |||||
| Average staff employed | 2,553 | 2,693 | 2,835 | 2,236 | 2,201 |
| EBITDA to revenue (%) | 12.6 | 13.1 | 15.0 | 15.9 | 13.4 |
| Profit/(loss) from operations to revenue (%) | 3.4 | 4.8 | (15.8) | 5.2 | (33.8) |
| Basic earnings/(loss) per share (pence) | 3.65 | 4.55 | (13.87) | 4.19 | (31.18) |
| Adjusted basic earnings/(loss) per share (pence)2 | 4.56 | 5.52 | 3.40 | 3.82 | (1.45) |
| Dividends per share relating to the financial year (pence) | 2.82 | 1.95 | 1.17 | 0.9 | – |
The amounts disclosed for 2004 are stated on the basis of UK GAAP because it is not practical to restate the amounts for periods prior the date of transition to IFRS.
1 Adjusted Group profit from operations excludes exceptional items and amortisation of intangible assets relating to acquisitions
2 Adjusted basic earnings/(loss) per share exclude the effects of exceptional items, taxation and amortisation of intangible assets arising on acquisition. In 2004 under UK GAAP, the figures exclude the effects of exceptional items, taxation and goodwill amortisation