Group financial history
The (unaudited) interests of the directors at the end of the year in the ordinary share capital of the Company were as follows:
| Consolidated income statement summary | 2005 £m |
2006 £m |
2007 £m |
2008 £m |
2009 £m |
||||
| Revenue by segment | |||||||||
| Foods | 605.5 | 414.3 | 449.8 | 566.5 | 607.6 | ||||
| Dairies | 743.3 | 815.7 | 928.0 | 1,070.1 | 1,110.3 | ||||
| Group including share of joint ventures | 1,348.8 | 1,230.0 | 1,377.8 | 1,636.6 | 1,717.9 | ||||
| Less: share of joint ventures | (88.2) | (69.0) | (68.5) | (66.9) | (70.3) | ||||
| Group | 1,260.6 | 1,161.0 | 1,309.3 | 1,569.7 | 1,647.6 | ||||
| Profit on operations by segment | |||||||||
| Foods | 56.7 | 61.3 | 61.8 | 72.5 | 92.6 | ||||
| Dairies | 35.2 | 16.8 | 25.5 | 30.7 | 6.8 | ||||
| Group including share of joint ventures | 91.9 | 78.1 | 87.3 | 103.2 | 99.4 | ||||
| Less: share of joint ventures | (7.5) | (9.3) | (10.0) | (7.7) | (7.3) | ||||
| Group | 84.4 | 68.8 | 77.3 | 95.5 | 92.1 | ||||
| Exceptional items | (0.4) | (23.2) | (10.4) | (21.1) | (24.0) | ||||
| Profit on disposal of JV | – | – | – | – | 50.4 | ||||
| Net finance costs | (16.1) | (14.5) | (9.7) | (16.1) | (22.6) | ||||
| Share of joint ventures’ net profit | 2.3 | 7.3 | 7.4 | 7.7 | 7.3 | ||||
| Profit before tax | 70.2 | 38.4 | 64.6 | 66.0 | 103.2 | ||||
| Balance sheet summary | |||||||||
| Operating assets by segment | |||||||||
| Foods | 371.5 | 371.3 | 594.3 | 641.7 | 692.7 | ||||
| Dairies | 197.6 | 249.3 | 278.8 | 274.3 | 231.2 | ||||
| Total operating assets | 569.1 | 620.6 | 873.1 | 916.0 | 923.9 | ||||
| Tax, retirement obligations and dividends | (121.0) | (82.4) | (85.5) | (66.0) | (155.3) | ||||
| Net borrowings and derivatives | (227.5) | (280.2) | (444.5) | (462.3) | (411.6) | ||||
| Net assets | 220.6 | 258.0 | 343.1 | 387.7 | 357.0 | ||||
| Minority interests | (9.8) | (10.8) | (4.0) | (5.1) | (4.7) | ||||
| Shareholders’ equity | 210.8 | 247.2 | 339.1 | 382.6 | 352.3 | ||||
| Cash flow summary | |||||||||
| Generated from operating activities | 143.0 | 73.4 | 94.2 | 108.4 | 129.1 | ||||
| Dividends from joint ventures | – | 9.0 | 8.9 | 7.3 | 2.9 | ||||
| Fixed asset investments (net of grants) | (37.7) | (44.0) | (36.3) | (34.0) | (49.3) | ||||
| 105.3 | 38.4 | 66.8 | 81.7 | 82.7 | |||||
| Interest paid | (17.7) | (16.4) | (15.3) | (22.9) | (30.3) | ||||
| Taxation paid | (12.6) | (15.5) | (6.1) | (6.7) | (9.2) | ||||
| Dividends paid | (23.9) | (25.6) | (27.7) | (30.8) | (32.3) | ||||
| Purchase of businesses | (9.9) | (43.7) | (293.3) | (7.8) | (1.3) | ||||
| Other items (principally asset disposals) | 11.0 | 10.1 | 104.8 | (37.3) | 49.4 | ||||
| Movement in net debt | 52.2 | (52.7) | (170.8) | (23.8) | 59.0 | ||||
| Basic earnings per share (pence) | 41.4 | 27.1 | 38.5 | 41.1 | 56.8 | ||||
| Adjusted basic earnings per share (pence)* | 43.7 | 36.9 | 41.2 | 51.7 | 45.0 |
* Adjusted to remove pension interest credit.