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Investor room: Financial summary

Five Year Financial Record

Group trading results

IFRS
18 August
2007
as reported
£m

IFRS
19 August
2006
as reported
£m

IFRS
20 August
2005
as restated
£m

UK GAAP
21 August
2004
as reported
£m

UK GAAP
23 August
20031
as reported
£m

Revenue2

1,704.9

1,546.1

770.1

637.6

429.0

Operating expenses before
depreciation and amortisation

(1042.9)

(939.8)

(356.6)

(298.2)

(194.4)

Share of post-tax profit from joint venture

1.6

-

-

-

-

EBITDA2

663.6

606.3

413.5

339.4

234.6

Depreciation and amortisation

(56.5)

(46.1)

(13.5)

(16.2)

(7.2)

Operating profit2

607.1

560.2

400.0

323.2

227.4

Profit on sale of non-current
assets

3.0

1.4

-

-

2.5

Net finance costs

(328.4)

(312.0)

(193.2)

(166.8)

(116.6)

Profit before tax2

281.7

249.6

206.8

156.4

113.3

Taxation

(57.7)

(54.8)

(39.6)

(34.9)

(15.7)

Profit after tax2

224.0

194.8

167.2

121.5

97.6

Exceptional items

54.4

52.0

(20.9)

(19.0)

-

Earnings per share:
Basic adjusted (pence)3

84.4

74.9

66.4

48.8

39.3


1 The period ended 23 August 2003 relates to a 53 week period.
2 Before exceptional items.
3 Earnings adjusted for the impact of expectional items.

Group balance sheets

IFRS
18 August
2007
as reported
£m

IFRS
19 August
2006
as reported
£m

IFRS
20 August
2005
as restated
£m

UK GAAP
21 August
2004
as reported
£m

UK GAAP
23 August
2003
as reported
£m

Property, plant and equipment                 

6,495.5

6,506.0

4,293.8

3,569.0

2,221.4

Goodwill

556.2

503.4

268.8

104.6

23.5

Intangible assets

157.3

163.3

27.5

-

-

Other non-current assets

191.8

182.6

77.9

-

-

Total non-current assets

7,400.8

7,355.3

4,668.0

3,673.6

2,244.9

Current assets

429.6

697.8

527.0

323.5

241.2

Non-current assets classified as
held for sale

8.2

28.5

6.4

-

-

Current liabilities

(444.8)

(568.3)

(500.2)

(335.0)

(324.7)

Non-current liabilities

(5,656.9)

(6,086.7)

(3,578.5)

(2,862.5)

(1,530.1)

Net assets

1,736.9

1,426.6

1,122.7

799.6

631.3

Share capital

0.1

0.1

0.1

0.1

0.1

Reserves

1,736.8

1,426.5

1,122.6

799.5

631.2

Shareholders' equity

1,736.9

1,426.6

1,122.7

799.6

631.3

Net debt

(4,900.9)

(4,877.9)

(3,012.7)

(2,635.1)

(1,449.8)


1 The period ended 19 August has been restated to reflect the finalisation of the fair values on the acquisition of the Spirit group.
2 Net debt at 19 August 2006 has been adjusted to include the fair value of derivative financial instruments.

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