Five year financial summary (unaudited)
CONSOLIDATED INCOME STATEMENT(a)
| for the year ended 31 December |
2007 £m |
2006 £m |
2005 £m |
2004 £m |
2003 £m |
|---|---|---|---|---|---|
| Group revenue and other operating income | 8 158 | 7 674 | 5 424 | 4 063 | 3 564 |
| Operating costs | (5 329) | (4 504) | (3 517) | (2 736) | (2 472) |
| Profit/(loss) on disposal of non-current assets | 19 | (49) | 446 | 87 | 116 |
| Operating profit before share of results from joint ventures and associates | 2 848 | 3 121 | 2 353 | 1 414 | 1 208 |
| Finance income | 152 | 127 | 105 | 42 | 44 |
| Finance costs | (124) | (102) | (112) | (87) | (87) |
| Share of post-tax results from joint ventures and associates | 163 | 139 | 158 | 125 | 132 |
| Profit before tax | 3 039 | 3 285 | 2 504 | 1 494 | 1 297 |
| Taxation | (1 239) | (1 461) | (939) | (583) | (498) |
| Profit for the year | 1 800 | 1 824 | 1 565 | 911 | 799 |
| Profit attributable to: | |||||
| Shareholders (earnings) | 1 746 | 1 779 | 1 525 | 883 | 771 |
| Minority interests | 54 | 45 | 40 | 28 | 28 |
| 1 800 | 1 824 | 1 565 | 911 | 799 | |
| Earnings per ordinary share (pence) | |||||
| Basic | 51.6 | 51.4 | 43.1 | 25.0 | 21.9 |
| Diluted | 51.1 | 51.0 | 42.9 | 24.9 | 21.9 |
CONSOLIDARED BALANCE SHEET(a)
| as at 31 December |
2007 £m |
2006 £m |
2005 £m |
2004 £m |
2003 £m |
|---|---|---|---|---|---|
| Non-current assets | 10 325 | 8 464 | 8 210 | 6 709 | 5 729 |
| Current assets | 5 065 | 4 139 | 3 385 | 1 629 | 1 151 |
| Assets classified as held for sale | – | 85 | 10 | 530 | 449 |
| Total assets | 15 390 | 12 688 | 11 605 | 8 868 | 7 329 |
| Current liabilities | (3 884) | (2 819) | (2 509) | (1 827) | (1 346) |
| Non-current liabilities | (4 149) | (3 370) | (2 826) | (2 395) | (2 018) |
| Liabilities associated with assets classified as held for sale | – | (34) | (3) | (67) | (56) |
| Total liabilities | (8 033) | (6 223) | (5 338) | (4 289) | (3 420) |
| Net assets | 7 357 | 6 465 | 6 267 | 4 579 | 3 909 |
| Equity | |||||
| Total shareholders’ equity | 7 225 | 6 363 | 6 169 | 4 559 | 3 918 |
| Minority interest in equity | 132 | 102 | 98 | 20 | (9) |
| Total equity | 7 357 | 6 465 | 6 267 | 4 579 | 3 909 |
- (a)
- 2003 and 2004 do not reflect the impact of IAS 39 which was adopted on 1 January 2005.
| for the year ended 31 December |
2007 £m |
2006 £m |
2005 £m |
2004 £m |
2003 £m |
|---|---|---|---|---|---|
| Cash generated by operations | 3 691 | 3 360 | 2 509 | 1 599 | 1 463 |
| Income taxes paid | (950) | (979) | (883) | (387) | (332) |
| Net cash inflow from operating activities | 2 741 | 2 381 | 1 626 | 1 212 | 1 131 |
| Cash flows from investing activities | |||||
| Dividends received | 148 | 193 | 93 | 81 | 88 |
| Proceeds from disposal of subsidiary undertakings and investments | 461 | 9 | (67) | 32 | 119 |
| Proceeds from disposal of property, plant and equipment and intangible assets | 3 | 49 | 950 | 142 | 72 |
| Purchase of property, plant and equipment and intangible assets | (1 718) | (1 313) | (1 064) | (1 022) | (855) |
| Loans (to)/from joint ventures and associates | (82) | (66) | 65 | (4) | (232) |
| Business combinations and investments | (497) | (67) | (39) | (364) | (3) |
| Net cash outflow from investing activities | (1 685) | (1 195) | (62) | (1 135) | (811) |
| Cash flows from financing activities | |||||
| Net interest received/(paid) | 3 | 14 | (25) | (24) | (37) |
| Dividends paid | (264) | (246) | (142) | (124) | (112) |
| Dividends paid to minority | (37) | (36) | (29) | (3) | (6) |
| Net proceeds from issue of new borrowings | 444 | 214 | 334 | 416 | 239 |
| Repayment of borrowings | (290) | (192) | (555) | (322) | (365) |
| Issue of shares | 51 | 26 | 34 | 13 | 7 |
| Purchase of own shares | (555) | (972) | (37) | – | – |
| Net cash outflow from financing activities | (648) | (1 192) | (420) | (44) | (274) |
| Net increase/(decrease) in cash and cash equivalents | 408 | (6) | 1 144 | 33 | 46 |
| for the year ended 31 December |
2007 | 2006 | 2005 | 2004 | 2003 | |
|---|---|---|---|---|---|---|
| Average capital employed(a) | £m | 7 084 | 6 651 | 6 227 | 5 201 | 4 695 |
| Pre-tax return on average capital employed(b) | % | 45.2 | 46.5 | 37.9 | 28.8 | 26.9 |
| Post-tax return on average capital employed(b) | % | 25.8 | 26.2 | 22.6 | 17.3 | 16.2 |
as at 31 December |
||||||
| Net funds/(borrowings)(c) | £m | 25 | (103) | (30) | (1 186) | (927) |
| Gearing ratio(d) | % | (0.3) | 1.6 | 0.4 | 20.6 | 19.2 |
| Debt/equity ratio(e) | % | (0.3) | 1.6 | 0.5 | 25.9 | 23.7 |
| Employee numbers (headcount) | thousands | 5.1 | 4.8 | 5.4 | 5.2 | 4.5 |
- (a)
- Average capital employed consists of total equity excluding commodity financial instruments (including associated deferred tax) and net funds/borrowings, averaged between the start and the end of the year.
- (b)
- Return on average capital employed represents profit (excluding disposals, re-measurements and impairments) excluding net finance income/costs on net funds/borrowings as a percentage of average capital employed. The above table presents this before and after taxation applied at the Group’s effective tax rate.
- (c)
- Net funds/borrowings comprise cash and cash equivalents, finance leases, currency and interest rate derivative financial instruments and short- and long-term borrowings.
- (d)
- Gearing ratio represents net funds/borrowings as a percentage of total shareholders’ funds (excluding commodity financial instruments and associated deferred tax) plus net funds/borrowings.
- (e)
- Debt/equity ratio represents net funds/borrowings as a percentage of total shareholders’ funds (excluding the re-measurement of commodity financial instruments).