Carlton Annual Report & Accounts 1999
 
INTRODUCTION

Financial highlights

From the Chairman

From the Chief Executive

 
OUR BUSINESSES

Broadcasting & advertising sales

Programme making

Digital pay television

The internet

Technicolour Group

 
FINANCIAL REVIEW

Finance Director's Review

 
CORPORATE GOVERNANCE

Directors' report

Remuneration report

 
FINANCIAL RESULTS

Auditors' report

Profit and loss account

Consolidated balance sheet

Consolidated statement of cash flows

Statement of total recognised gains & losses

Reconciliation of movements in shareholders' funds

Principal accounting policies

 
NOTES TO THE ACCOUNTS

Index to notes

 
APPENDIX

Euro conversion

US$ conversion

Differences between UK and US GAAP

Historical record

Summary notice of AGM

Shareholder information

HISTORICAL RECORD
1999
£m
1998
£m
1997
£m
1996
£m
1995
£m
1994
£m
1993*
£m
1992*
£m
1991*
£m
1990*
£m
Profit and loss account
Turnover (1) 1,928.2 1,835.4 1,749.7 1,677.5 1,579.6 1,404.7 1,004.7 635.2 538.0 697.6
Headline operating profit (1) 319.5 318.0 317.9 291.0 248.5 187.7 118.4 85.3 65.0 115.2
Headline profit before tax (1) 321.3 330.4 326.7 295.7 253.7 190.2 126.1 100.2 79.2 103.1
Retained profit/(loss) (12.9) 112.8 121.0 118.5 96.0 66.6 46.1 29.2 18.3 32.1
Headline earnings per share (1)(2) 33.8p 34.1p 34.8p 31.7p 27.3p 21.5p 16.8p 13.4p 10.2p 12.6p
Total dividend per Ordinary share 15.05p 13.65p 12.4p 11.1p 9.4p 8.3p 7.5p 6.8p 6.2p 5.6p
Dividend cover (times covered) (3) 1.0 2.3 2.6 2.7 2.6 2.2 2.2 2.0 1.6 2.2

1999
£m
1998
£m
1997
£m
1996
£m
1995
£m
1994
£m
1993
£m
1992
£m
1991
£m
1990
£m
Balance sheet
Fixed assets 567.9 426.3 383.8 312.4 295.6 290.5 268.2 213.9 170.3 178.6
Net current assets 548.5 438.8 533.8 484.7 442.0 351.8 356.9 336.7 283.3 247.1
Long term creditors and deferred taxation (610.7) (366.8) (366.6) (266.2) (268.9) (295.6) (196.0) (163.6) (97.5) (83.4)
Net assets 505.7 498.3 551.0 530.9 468.7 346.7 429.1 387.0 356.1 342.3
*Restated for FRS3.

(1) 1999 figures are stated before exceptional items and Digital Television. Digital Television results comprised turnover £9.9m (1998 - £6.7m), operating loss £37.9m (1998 - £9.6m) and loss before tax £132.7m (1998 - £27.9m). The net reduction in basic EPS due to Digital Telelvision was 15.4 pence (1998 - 3.4 pence).
(2) Basic earnings per share and dividends per share have been restated for a 3 for 2 capitalisation issue on 26 February 1996.
(3) Dividend cover is stated after charging Digital Television results.

Historical record - Euro conversion (1)

1999 1998 1997 1996 1995 1994 1993 1992 1991 1990
Profit and loss account
Turnover 2,981.0 2,837.5 2,705.0 2,593.4 2,442.1 2,171.7 1,553.3 982.0 831.7 1,078.5
Headline operating profit 493.9 491.6 491.5 449.9 384.2 290.2 183.0 131.9 100.5 178.1
Headline profit before tax 496.7 510.8 505.1 457.1 392.2 294.0 194.9 154.9 122.4 159.4
Retained profit/(loss) (19.9) 174.4 187.1 183.2 148.4 103.0 71.3 45.1 28.3 49.6
Headline earnings per share (Euro) 0.52 0.53 0.54 1.49 0.42 0.33 0.26 0.21 0.16 0.19
Total dividend per Ordinary share (Euro) 0.23 0.21 0.19 0.17 0.15 0.13 0.12 0.11 0.10 0.08
Dividend cover (times covered) 1.0 2.3 2.6 2.7 2.7 2.6 2.2 2.0 1.6 2.2
 
Euro millions
1999 1998 1997 1996 1995 1994 1993 1992 1991 1990
Balance sheet
Fixed assets 878.0 659.1 593.4 483.0 457.0 449.1 414.6 330.7 263.3 276.1
Net current assets 847.9 678.4 825.3 749.3 683.3 543.9 551.8 520.5 438.0 382.0
Long term creditors and deferred taxation (944.1) (567.1) (566.9) (411.5) (415.7) (457.0) (303.0) (252.9) (150.8) (128.9)
Net assets 781.8 770.4 851.8 820.8 724.6 536.0 663.4 598.3 550.5 529.2

(1) The £-denominated historical record has been translated at the £/Euro of 1.546, the rate in effect at 30 September 1999.


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