£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Growth Metrics | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Annualisation Factor | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 |
Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Continuing Operations | |||||
PE Ratio - Adjusted | n/a | n/a | n/a | n/a | n/a |
PE Ratio - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
PEG - Adjusted | n/a | n/a | n/a | n/a | n/a |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
Return on Capital Employed | 32.69% 32.67% |
30.36% 30.36% |
33.26% 33.44% |
34.86% 35.35% |
a34.10% a34.95% |
Operating Margin | 8.45% 8.44% |
8.62% 8.62% |
8.53% 8.57% |
8.26% 8.46% |
a7.93% a8.12% |
Continuing & Discontinued Operations | |||||
PE Ratio - Adjusted | n/a | n/a | n/a | n/a | n/a |
PE Ratio - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
PEG - Adjusted | n/a | n/a | n/a | n/a | n/a |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Net Gearing | (11.13%) | (26.52%) | (26.10%) | (29.10%) | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Value Metrics | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Price/Book Value | n/a | n/a | n/a | n/a | n/a |
Price/Tangible Book Value | n/a | n/a | n/a | n/a | n/a |
Price/ Cash Flow | n/a | n/a | n/a | n/a | n/a |
Price/Revenue | n/a | n/a | n/a | n/a | n/a |
Price/R&D | n/a | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | 160.28p | 160.82p | 142.25p | 126.90p | 112.88p |
Net Cash per Share | n/a | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Annualised Fundamentals | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Continuing Operations | |||||
Revenue | 544.72 | 509.90 | 486.64 | 464.79 | a412.30 |
EBITDA | 52.24 52.22 |
48.92 48.93 |
46.63 46.63 |
42.85 42.87 |
a36.46 a36.43 |
Depreciation | (6.23) (6.23) |
(4.97) (4.97) |
(5.13) (4.92) |
(4.45) (3.54) |
a(3.78) a(2.95) |
Net Interest | (0.84) (0.84) |
(0.38) (0.38) |
(0.66) (0.66) |
(0.06) (0.06) |
a(0.09) a(0.09) |
Profit Before Tax | 45.17 45.15 |
43.56 43.57 |
40.84 41.06 |
38.48 39.41 |
a32.59 a33.40 |
Revenue per Share | 638.07p | 586.57p | 564.56p | 544.55p | a489.64p |
Pre-Tax Profit per Share | 52.91p 52.89p |
50.11p 50.12p |
47.38p 47.63p |
45.09p 46.18p |
a38.71p a39.67p |
Market Capitalisation £ (Millions) | n/a | n/a | n/a | n/a | n/a |
Enterprise Value (EV) £ (Millions) | 0.10 | 1.28 | 0.74 | (17.13) | 3.72 |
EBITDA/EV | 50,718.45% 50,700.97% |
3,830.46% 3,831.25% |
6,318.56% 6,318.56% |
(250.11%) (250.18%) |
a980.40% a979.70% |
Operating Margin | 8.45% 8.44% |
8.62% 8.62% |
8.53% 8.57% |
8.26% 8.46% |
a7.93% a8.12% |
Capital Employed £ (Millions) | 140.77 | 144.74 | 124.76 | 111.67 | 95.83 |
Return on Capital Employed | 32.69% 32.67% |
30.36% 30.36% |
33.26% 33.44% |
34.86% 35.35% |
a34.10% a34.95% |
Invested Equity Capital £ (Millions) | 153.88 | 156.68 | 137.23 | 127.32 | 109.04 |
Earnings per Share - Basic | 37.10p 37.04p |
35.10p 35.09p |
33.10p 33.30p |
31.30p 32.42p |
n/a n/a |
Earnings per Share - Diluted | 36.80p 36.76p |
34.80p 34.84p |
32.80p 33.07p |
31.00p 32.12p |
n/a n/a |
Earnings per Share - Adjusted | 37.10p | 35.10p | 33.10p | 31.30p | n/a |
Earnings per Share Growth - Basic | 6% 6% |
6% 5% |
6% 3% |
n/a n/a |
n/a n/a |
Earnings per Share Growth - Diluted | 6% 6% |
6% 5% |
6% 3% |
n/a n/a |
n/a n/a |
Earnings per Share Growth - Adjusted | 6% | 6% | 6% | n/a | n/a |
PE Ratio - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
Tax Rate | 29.96% | 30.00% | 30.24% | 31.12% | a32.11% |
Dividend Cover | 1.61 1.60 |
1.74 1.74 |
1.84 1.85 |
1.93 2.00 |
n/a n/a |
Interest Cover | 7.31 7.30 |
9.20 9.21 |
9.97 10.02 |
36.44 37.29 |
a38.21 a39.13 |
Continuing & Discontinued Operations | |||||
Earnings per Share - Basic | 37.10p 37.04p |
35.10p 35.09p |
33.10p 33.30p |
31.30p 31.98p |
26.30p 27.24p |
Earnings per Share - Diluted | 36.80p 36.76p |
34.80p 34.84p |
32.80p 33.07p |
31.00p 31.68p |
25.90p 26.80p |
Earnings per Share - Adjusted | 37.10p | n/a | 33.10p | 31.30p | 27.30p |
Earnings per Share Growth - Basic | 6% 6% |
6% 5% |
6% 4% |
19% 17% |
n/a n/a |
Earnings per Share Growth - Diluted | 6% 6% |
6% 5% |
6% 4% |
20% 18% |
n/a n/a |
Earnings per Share Growth - Adjusted | n/a | -100% | 6% | 15% | n/a |
PE Ratio - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
PEG - Diluted | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
Dividend Cover | 1.61 1.60 |
n/a 1.74 |
1.84 1.85 |
1.93 1.97 |
1.97 1.97 |
Return on Equity (ROE) | 20.56% 20.55% |
19.46% 19.47% |
20.76% 20.92% |
20.71% 21.44% |
20.29% 21.04% |
Operating Cash Flow per Share | 31.07p | 34.59p | 26.34p | 38.48p | b42.81p |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a | 32.29p |
Cash Incr/Decr per Share | (28.56p) | 5.41p | (1.46p) | 6.30p | (3.40p) |
Capital Expenditure per Share | 5.49p | 12.37p | 8.77p | 12.15p | 10.41p |
Dividend per Share | 23.10p | 20.15p | 18.00p | 16.25p | 13.85p |
Dividend per Share Growth | 14.64% | 11.94% | 10.77% | 17.33% | n/a |
Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Shareholders Funds | 150.04 | 153.01 | 135.83 | 122.36 | 108.26 |
Net Borrowings £ (Millions) | (16.70) | (40.58) | (35.46) | (35.61) | (28.62) |
Net Asset Value per Share (inc. Intangibles) | 160.28p | 160.82p | 142.25p | 132.18p | 112.88p |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - inc Intangibles | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Shareholders' Funds inc Intangibles | 150.04 | 153.01 | 135.83 | 122.36 | 108.26 |
Net Borrowings £ (Millions) | (16.70) | (40.58) | (35.46) | (35.61) | (28.62) |
Net Gearing | (11.13%) | (26.52%) | (26.10%) | (29.10%) | n/a |
Cash & Near Cash | 16.81 | 41.86 | 36.19 | 37.75 | 32.34 |
Cash | 11.20% | 27.36% | 26.65% | 30.85% | 29.87% |
Gross Borrowings | 0.10 | 1.28 | 0.74 | 2.14 | 3.72 |
Gross Gearing | 0.07% | 0.83% | 0.54% | 1.75% | n/a |
Borrowings Under 5 years | 0.10 | 1.28 | 0.74 | 2.14 | 3.72 |
Under 5 years | 0.07% | 0.83% | 0.54% | 1.75% | 3.44% |
Borrowings Under 1 year | 0.10 | 1.28 | 0.47 | 1.40 | 2.54 |
Under 1 year | 0.07% | 0.83% | 0.35% | 1.15% | 2.35% |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - exc Intangibles | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Shareholders' Funds exc Intangibles | 136.83 | 139.80 | 122.62 | 108.31 | 95.05 |
Net Borrowings £ (Millions) | (16.70) | (40.58) | (35.46) | (35.61) | (28.62) |
Net Gearing | (12.21%) | (29.03%) | (28.92%) | (32.87%) | n/a |
Cash & Near Cash | 16.81 | 41.86 | 36.19 | 37.75 | 32.34 |
Cash | 12.28% | 29.94% | 29.52% | 34.85% | 34.02% |
Gross Borrowings | 0.10 | 1.28 | 0.74 | 2.14 | 3.72 |
Gross Gearing | 0.08% | 0.91% | 0.60% | 1.98% | n/a |
Borrowings Under 5 years | 0.10 | 1.28 | 0.74 | 2.14 | 3.72 |
Under 5 years | 0.08% | 0.91% | 0.60% | 1.98% | 3.91% |
Borrowings Under 1 year | 0.10 | 1.28 | 0.47 | 1.40 | 2.54 |
Under 1 year | 0.08% | 0.91% | 0.38% | 1.30% | 2.68% |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Cover | 31-Dec-07 | 31-Dec-06 | 31-Dec-05 | 31-Dec-04 | *31-Dec-03 |
Quick Ratio | 0.71 | 0.82 | 0.78 | 0.73 | d0.72 |
Current Ratio | 1.31 | 1.40 | 1.37 | 1.20 | d1.22 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
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