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Historic Trends

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2009
£m

2008
£m

2007**
£m

2006**
£m

2005**
£m
Results
Revenue 2,103.3 1,763.6 1,504.6 1,343.9 1,420.5
Operating profit 202.4 192.3 180.9 112.5 132.9
Net finance (costs)/income (31.4) (23.6) 0.7 (15.9) (21.9)
Profit before taxation 170.8 167.3 184.1 91.5 104.9
Tax (charge)/credit (37.3) 61.9 (43.6) (20.3) (25.3)
Profit attributable to equity shareholders of the parent 133.5 249.1 277.3 115.4 86.9
Net (liabilities)/assets
Non-current assets 992.9 880.7 779.4 893.4 866.7
Current assets 517.2 502.0 669.1 395.3 321.7
Current liabilities (excluding provisions) (893.7) (558.1) (445.1) (438.2) (517.4)
Non-current liabilities (excluding provisions) (486.1) (625.0) (382.7) (529.0) (462.6)
Provisions (139.9) (119.2) (108.4) (109.9) (93.0)
Total equity (9.6) 80.4 512.3 211.6 115.4
Cash and debt
Cash at bank and in hand 277.3 262.2 513.3 198.5 140.0
Gross debt*** (617.4) (581.9) (326.9) (334.4) (354.6)
Net (debt)/funds*** (340.1) (319.7) 186.4 (135.9) (214.6)
Cash flow
Net cash flow from operating activities after tax 277.8 325.0 162.3 175.5 173.6
Ratios
Adjusted earnings per ordinary share* 22.9p 20.3p 11.7p 10.6p 9.5p
Dividends per ordinary share 6.0p 5.4p 4.1p 3.7p 3.3p
Net cash from operating activities after tax per ordinary share 38.9p 45.1p 14.9p 16.3p 15.0p
Ordinary shares in issue at year end 719.5m 718.1m 1,101.0m 1,093.6m 1,069.5m

*before intangible asset expenses and exceptional items

**discontinued operations as defined under IFRS accounting are excluded from operating profit for 2007 (London bus and New Zealand businesses) 2006 (London bus and New Zealand businesses) and 2005 (New Zealand).

*** excluding any accrued interest and deferred gains on derivatives.

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