| £ millions |
2005
(52 wks) |
2004
(53 wks) |
Reported
Currency
Growth
% vs.
53 wks |
Reported
Currency
Growth
% vs.
52 wks |
Constant
Currency3
Growth
% vs.
52 wks2 |
| Revenue |
6,508 |
6,085 |
+7 |
+8 |
+6 |
| - Underlying Profit from Operations1 |
1,033 |
954 |
+8 |
+10 |
+8 |
| - Underlying operating margin5 |
15.9 |
15.7 |
+20bps |
+30bps |
+30bps |
| Profit from Operations |
1,003 |
825 |
+22 |
+23 |
+21 |
| Underlying Profit before Tax1 |
873 |
771 |
+13 |
+14 |
+12 |
| Profit before Tax |
843 |
642 |
+31 |
+33 |
+31 |
| Underlying EPS1 & 4 |
33.9 |
30.7 |
+10 |
+11 |
+9 |
| Reported EPS4 |
37.3 |
25.9 |
+44 |
+45 |
+44 |
| Dividend per share |
13.0p |
12.5p |
+4 |
n/a |
n/a |
As required by IFRS 5, Europe Beverages is classified as a discontinued operation. Revenue, Profit from Operations and Profit before Tax for the 52 weeks to 1 January 2006, exclude Europe Beverages. The prior year comparative information has been re-presented on a consistent basis.
1 Underlying Profit from Operations and Underlying Profit before Tax exclude brand intangible amortisation (£6 million), restructuring costs (£72 million), non-trading items (£25 million) and the impact of fair value accounting under IAS 39 (£23 million). Underlying earnings per share also exclude the tax effects of these adjustments and the credit arising on the recognition of the UK deferred tax asset (£104 million) and the intra-group transfer of intellectual property assets (£11 million). A full reconciliation between underlying and reported measures is included in the segmental analysis.
2 Excluding the estimated impact of sales and profits in the 53rd week of 2004 (see tables in the Financial review).
3 Constant currency growth excludes the impact of exchange rate movements during the period (see tables in the Financial review).
4 EPS is presented on a basic total group basis and therefore includes the earnings contribution from Europe Beverages.
5 10 basis points (bps) equals 0.1%. |
