Financial statements
Notes to the consolidated financial statements
- 1. Significant accounting policies
- 2. Segmental reporting
- 3. Group operating profit
- 4. Intangible amortisation and impairment of other investments
- 5. Non-recurring operating items and non-operating items
- 6. Financial income and expense
- 7. Payroll costs and employee numbers
- 8. Income tax
- 9. Earnings per share
- 10. Dividends
- 11. Property, plant and equipment
- 12. Intangible assets
- 13. Investments in jointly controlled entities
- 14. Other investments
- 15. Deferred tax assets and liabilities
- 16. Inventories
- 17. Construction contracts
- 18. Trade and other receivables
- 19. Cash and cash equivalents and net borrowing
- 20. Borrowing
- 21. Trade and other payables
- 22. Provisions
- 23. Share capital
- 24. Reserves
- 25. Share-based payments
- 26. Guarantees and contingent liabilities
- 27. Financial instruments
- 28. Financial and capital commitments
- 29. Related parties
- 30. Acquisitions and disposals
- 31. Retirement benefit obligations
- 32. Accounting estimates and judgements
- 33. New accounting standards and interpretations
- 34. Off-balance sheet arrangements
- 35. Principal subsidiaries, jointly controlled entities and jointly controlled operations
Notes to the Company financial statements
- 1. Significant accounting policies
- 2. Profit for the year and dividends
- 3. Investments
- 4. Debtors
- 5. Creditors: amounts falling due within one year
- 6. Creditors: amounts falling due after more than one year
- 7. Share capital
- 8. Reserves
- 9. Reconciliation of movement in shareholders’ funds
- 10. Other guarantees and contingent liabilities
- 11. Pension arrangements
- 12. Share-based payments
- 13. Financial instruments
- 14. Related party transactions
Consolidated income statement
For the year ended 31 December 2009
| Note | 2009 £m |
2008 £m |
|
| Total revenue | 5,426.5 | 5,205.8 | |
| Less: Share of jointly controlled entities’ revenue | (922.3) | (772.0) | |
| Group revenue | 2 | 4,504.2 | 4,433.8 |
| Cost of sales | (4,154.4) | (4,069.4) | |
| Gross profit | 349.8 | 364.4 | |
| Administrative expenses | (262.4) | (329.8) | |
| Other operating (expense)/income | 3 | (2.5) | 8.3 |
| Group operating profit | 3 | 84.9 | 42.9 |
| Analysed between: | |||
| Group operating profit before intangible amortisation, impairment of other investments and non-recurring operating items |
130.9 | 120.1 | |
| Intangible amortisation and impairment of other investments | 4 | (30.8) | (54.5) |
| Non-recurring operating items(1) | 5 | (15.2) | (22.7) |
| Share of results of jointly controlled entities | 2 | 65.9 | 45.1 |
| Analysed between: | |||
| Operating profit | 86.4 | 74.0 | |
| Net financial expense | (14.0) | (18.2) | |
| Taxation | (6.5) | (10.7) | |
| Profit from operations | 150.8 | 88.0 | |
| Analysed between: | |||
| Profit from operations before intangible amortisation, impairment of other investments and non-recurring operating items |
196.8 | 165.2 | |
| Intangible amortisation and impairment of other investments | 4 | (30.8) | (54.5) |
| Non-recurring operating items(1) | 5 | (15.2) | (22.7) |
| Non-operating items | 5 | 11.5 | 35.6 |
| Net financial expense | 6 | (14.6) | (7.7) |
| Analysed between: | |||
| Financial income | 113.4 | 137.4 | |
| Financial expense | (128.0) | (145.1) | |
| Profit before taxation | 147.7 | 115.9 | |
| Analysed between: | |||
| Profit before taxation, intangible amortisation, impairment of other investments, non-recurring operating items and non-operating items |
182.2 | 157.5 | |
| Intangible amortisation and impairment of other investments | 4 | (30.8) | (54.5) |
| Non-recurring operating items(1) | 5 | (15.2) | (22.7) |
| Non-operating items | 5 | 11.5 | 35.6 |
| Taxation | 8 | (11.5) | (4.1) |
| Profit for the year | 136.2 | 111.8 | |
| Profit attributable to: | |||
| Equity holders of the parent | 132.4 | 108.3 | |
| Minority interests | 3.8 | 3.5 | |
| Profit for the year | 136.2 | 111.8 | |
| Earnings per share | 9 | ||
| Basic | 33.4p | 28.4p | |
| Diluted | 33.2p | 28.2p | |
| (1) This includes rationalisation costs, curtailment gain and the Office of Fair Trading penalty (see note 5). | |||