5 year financial summary

Group income statement 2010
£m
2011
£m
2012
£m
2013
£m
2014
£m
Revenue
Continuing operations 552.2 622.3 712.0 775.1 820.8
Discontinued operations 14.7 18.4 17.8
566.9 640.7 729.8 775.1 820.8
Adjusted operating profit
Continuing operations 74.4 87.3 100.6 107.6 111.6
Discontinued operations 1.0 1.0 0.8
75.4 88.3 101.4 107.6 111.6
Loss)/profit on sale of fixed assets 0.2 (0.3) (0.1)
Exceptional pension (charge)/credit (1.9) 1.1 (1.5)
Amortisation of intangible assets from acquisitions (4.6) (4.4) (4.3) (4.2) (7.2)
Impairment of goodwill (8.7) (12.7) (9.4)
Restructuring costs (1.9) (1.5)
Reversal of contingent consideration payable 3.8
Write-down of L85 inventory (1.8)
Acquisition costs (0.1) (0.6) (0.6) (0.4) (0.6)
Operating profit 62.2 83.0 94.5 93.3 89.6
Investment income/finance costs, net (7.9) (7.9) (7.7) (8.1) (8.1)
Net finance cost of retirement benefit obligations (2.2) (2.4) (2.6) (1.4) (0.9)
Profit on disposal of discontinued operations 2.5
Profit before tax 52.1 72.7 86.7 83.8 80.6
Tax (11.7) (17.7) (16.8) (12.4) (17.1)
Profit for the year 40.4 55.0 69.9 71.4 63.5
Depreciation and amortisation of intangibles 24.6 23.0 25.1 26.5 32.1
Gross capital expenditure (including finance lease assets) 14.2 22.3 26.1 29.7 31.1
Basic earnings per share 10.11p 13.68p 17.11p 17.22p 15.25p
Diluted earnings per share 9.77p 13.21p 16.69p 17.00p 15.06p
Adjusted earnings per share 12.01p 14.55p 17.75p 19.00p 19.84p
Dividends in respect of years – per share 3.12p 3.80p 4.65p 5.12p 5.63p
Dividends in respect of years – value 12.5 15.3 19.3 21.3 23.5
Group balance sheets
Non-current assets 292.2 362.9 387.4 393.6 466.4
Net current assets 93.3 75.0 94.8 101.1 84.4
Non-current liabilities (159.6) (161.6) (169.3) (133.2) (139.2)
Net assets 225.9 276.3 312.9 361.5 411.6
Net borrowings (63.7) (93.0) (70.0) (59.2) (105.0)
Group cash flow
Net cash from operating activities 70.2 77.1 83.3 92.4 88.6
Interest received 0.7 0.3 0.3 0.2 0.1
Proceeds from disposal of property, plant and equipment 2.1 0.3 0.1 0.9 0.2
Purchase of property, plant and equipment – cash (13.5) (21.1) (25.3) (28.7) (29.6)
Purchase of intangible assets (0.7) (1.0) (0.8) (1.0) (1.5)
Free cash flow 58.8 55.6 57.6 63.8 57.8
Dividends paid (10.8) (13.1) (16.4) (19.9) (21.9)
Acquisitions less disposals (8.3) (68.6) (23.6) (30.5) (60.1)
Investment in joint venture (0.9) (0.5)
Loan to joint venture (1.1)
Share issues 0.3 2.3 0.1 1.1
(Purchase)/sale of shares held by employee benefit trust 1.4 (1.0) (0.9) (0.7)
Decrease in loans (4.6) (0.2) (0.2) (0.2) (18.4)
Decrease in finance leases (0.2) (0.4) (0.6) (0.5) (1.4)
Cash inflow on forward contracts 0.2
(Decrease)/increase in cash and cash equivalents 36.6 (26.5) 17.2 11.4 (44.7)