Group financial history
|
Consolidated income statement summary – continuing operations |
2010 £m |
2011 £m |
2012 £m |
2013 £m |
2014 £m |
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|---|---|---|---|---|---|---|---|---|---|---|
|
Product group revenue |
||||||||||
|
Cheese |
260.0 |
223.1 |
229.6 |
231.3 |
264.6 |
|||||
|
Spreads |
178.6 |
183.2 |
211.3 |
194.5 |
177.4 |
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|
Dairies |
1,081.2 |
1,089.8 |
1,069.0 |
951.6 |
944.8 |
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|
Other |
10.8 |
6.1 |
4.8 |
4.2 |
4.2 |
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|
Group |
1,530.6 |
1,502.2 |
1,514.7 |
1,381.6 |
1,391.0 |
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|
Product group profit |
||||||||||
|
Cheese |
16.9 |
28.0 |
35.5 |
33.1 |
39.3 |
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|
Spreads |
19.5 |
18.6 |
23.2 |
25.5 |
16.8 |
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|
Dairies |
34.9 |
27.1 |
10.2 |
9.8 |
18.8 |
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|
Associates & joint ventures |
0.1 |
(0.2) |
(0.3) |
– |
0.3 |
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|
Group including share of joint ventures |
71.4 |
73.5 |
68.6 |
68.4 |
75.2 |
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|
Less: share of associates & joint ventures |
(0.1) |
0.2 |
0.3 |
– |
(0.3) |
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|
Group |
71.3 |
73.7 |
68.9 |
68.4 |
74.9 |
|||||
|
Amortisation of acquired intangibles |
(0.8) |
(0.3) |
(0.8) |
(0.4) |
(0.4) |
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|
Exceptional items |
2.0 |
(1.1) |
(93.9) |
(56.5) |
(10.4) |
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|
Profit on disposal of joint venture |
2.0 |
– |
– |
– |
– |
|||||
|
Finance costs |
(22.4) |
(20.6) |
(21.1) |
(18.7) |
(9.9) |
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|
Other finance income/(charges) – pensions |
(0.5) |
– |
5.5 |
(3.5) |
(0.3) |
|||||
|
Share of associate net profit/(loss) |
0.1 |
(0.2) |
(0.3) |
– |
0.3 |
|||||
|
Profit/(loss) before tax |
51.7 |
51.5 |
(41.7) |
(10.7) |
54.2 |
|||||
|
Adjusted profit before tax |
49.0 |
52.9 |
47.5 |
49.7 |
65.3 |
|||||
|
Balance sheet summary |
||||||||||
|
Property, plant & equipment, goodwill and intangibles, investments |
794.4 |
800.6 |
713.9 |
375.9 |
391.9 |
|||||
|
Inventories, receivables, payables, deferred income and provisions |
43.7 |
21.9 |
45.8 |
74.1 |
109.6 |
|||||
|
Total operating assets |
838.1 |
822.5 |
759.7 |
450.0 |
501.5 |
|||||
|
Financial instruments excluding amounts included in net debt |
0.9 |
5.0 |
0.9 |
1.5 |
2.8 |
|||||
|
Tax |
(70.3) |
(90.3) |
(70.1) |
(17.2) |
(15.0) |
|||||
|
Retirement obligations |
(142.4) |
(60.1) |
(79.8) |
(67.2) |
(57.7) |
|||||
|
Disposal group held for sale (excluding cash) |
3.7 |
– |
– |
– |
– |
|||||
|
Net debt |
(337.2) |
(311.6) |
(336.4) |
(59.7) |
(142.2) |
|||||
|
Net assets |
292.8 |
365.5 |
274.3 |
307.4 |
289.4 |
|||||
|
Non-controlling interests |
(3.0) |
– |
– |
– |
– |
|||||
|
Shareholders’ equity |
289.8 |
365.5 |
274.3 |
307.4 |
289.4 |
|||||
|
Cash flow summary |
||||||||||
|
Generated from operating activities |
145.9 |
128.1 |
84.5 |
19.1 |
(13.8) |
|||||
|
Dividends from associate |
0.1 |
– |
– |
– |
– |
|||||
|
Fixed asset investments (net of grants) |
(26.9) |
(48.5) |
(53.1) |
(46.0) |
(58.8) |
|||||
|
119.1 |
79.6 |
31.4 |
(26.9) |
(72.6) |
||||||
|
Interest paid |
(22.1) |
(19.8) |
(23.6) |
(18.0) |
(14.0) |
|||||
|
Taxation (paid)/repaid |
(10.5) |
(16.1) |
(14.1) |
(4.7) |
2.1 |
|||||
|
Dividends paid |
(24.3) |
(25.4) |
(26.5) |
(27.4) |
(28.5) |
|||||
|
Purchase of businesses |
(1.9) |
(0.1) |
(12.3) |
(0.6) |
– |
|||||
|
Other items (principally asset disposals) |
18.3 |
7.4 |
20.3 |
354.3 |
30.5 |
|||||
|
Movement in net debt |
78.6 |
25.6 |
(24.8) |
276.7 |
(82.5) |
|||||
|
Basic earnings/(loss) per share from continuing operations (pence) |
27.7 |
30.1 |
(29.1) |
(5.9) |
35.8 |
|||||
|
Adjusted basic earnings per share from continuing operations (pence)* |
27.4 |
29.9 |
28.9 |
29.4 |
40.8 |
* Adjusted basic earnings per share excludes exceptional items, amortisation of acquired intangibles and pension interest