Income statement - 2004 to 2005 (IFRS)
| |
2005
£m |
2004
(re-presented)
£m |
| Revenue |
|
|
| Revenue - Continuing operations (a) |
|
|
| Americas Beverages |
1,781 |
1,686 |
| Americas Confectionery |
1,228 |
1,093 |
| EMEA |
2,333 |
2,246 |
| Asia Pacific |
1,157 |
1,050 |
| Central |
9 |
10 |
| |
6,508 |
6,085 |
| Underlying Profit from Operations (profit from operations excluding non-trading items, restructuring costs, amortisation of brand intangibles and IAS 39 adjustment) |
|
|
| Continuing operations (a) |
|
|
| Americas Beverages |
524 |
503 |
| Americas Confectionery |
172 |
143 |
| EMEA |
336 |
323 |
| Asia Pacific |
157 |
134 |
| Central |
(156) |
(149) |
| |
1,033 |
954 |
| Restructuring costs |
(72) |
(140) |
| Amortisation and impairment of intangibles |
(6) |
(7) |
| Non-trading items |
25 |
18 |
| IAS 39 adjustment |
23 |
n/a |
| Group Profit from Operations |
1,003 |
825 |
| Share of result in associates |
28 |
22 |
| Profit before financing and taxation |
1,031 |
847 |
| Financing |
(188) |
(205) |
| Profit before Taxation |
843 |
642 |
| Taxation |
(140) |
(145) |
| Discontinued operations - Europe Beverages |
73 |
50 |
| Minorities |
(11) |
(22) |
| Profit for the Period attributable to equity shareholders |
765 |
525 |
(a) Re-presented to exclude Europe Beverages from continuing operations as the segment was classified as discontinued in 2005.
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Profit and Loss Account - 2001 to 2003 (UK GAAP)
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| |
2003
£m |
2002
£m |
2001
£m |
| Turnover |
|
|
|
| Turnover - Continuing operations (a) |
|
|
|
| Americas Beverages |
1,814 |
1,982 |
1,904 |
| Americas Confectionery |
871 |
233 |
292 |
| EMEA |
2,117 |
1,787 |
1,650 |
| Asia Pacific |
937 |
738 |
720 |
| Central |
10 |
10 |
9 |
| |
5,749 |
4,750 |
4,575 |
| Underlying Operating Profit (operating profit excluding operating exceptional items, goodwill/intangibles amortisation and operating profit in associates) |
|
|
|
| Continuing operations |
|
|
|
| Americas Beverages |
532 |
585 |
566 |
| Americas Confectionery |
95 |
15 |
38 |
| EMEA |
308 |
280 |
233 |
| Asia Pacific |
128 |
114 |
124 |
| Central |
(131) |
(115) |
(101) |
| |
932 |
879 |
860 |
| Discontinued operations (b) |
120 |
104 |
70 |
| Exceptional restructuring costs |
(184) |
(53) |
(53) |
| Other exceptional items |
(40) |
- |
- |
| Goodwill/intangibles amortisation |
(129) |
(64) |
(46) |
| Group Operating Profit |
699 |
866 |
831 |
| Share of Operating Profit in associates |
51 |
58 |
57 |
| Total Profit from Operations including associates |
750 |
924 |
888 |
| Profit/(loss) on sale of subsidiaries, investments and fixed assets |
(5) |
12 |
31 |
| Net interest |
(181) |
(106) |
(106) |
| Profit on ordinary activities before Taxation |
564 |
830 |
813 |
| Taxation |
(173) |
(255) |
(241) |
| Minority interests |
(25) |
(27) |
(30) |
| Profit for the Financial Year |
366 |
548 |
542 |
In 2005, the Group adopted International Financial Reporting Standards ("IFRS"). The Group has prepared one year of comparative financial information in accordance with IFRS 1. The financial statements for earlier periods have not been restated and the information above represents the previously presented UK GAAP information. The main adjustments required to convert UK GAAP to IFRS in 2004 and hence the likely adjustments to convert 2001-2003 are detailed in Note 40.
(a) Restated to comply with the new definition of turnover adopted by the Group in 2002 for the year 2001 and re-presented to exclude Europe Beverages from continuing operations.
(b) Discontinued operations represents Europe Beverages.
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Cash flow & Balance sheet - 2004 to 2005 (IFRS)
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| |
2005
£m |
2004
£m |
| Cash Flows |
|
|
| Net cash from operating activities |
1,090 |
956 |
| Additional funding of past service pensions deficit |
31 |
- |
| Net interest paid |
(199) |
(211) |
| Net capital expenditure |
(261) |
(259) |
| Net dividends paid |
(257) |
(257) |
| Free Cash Flow |
404 |
229 |
Balance Sheets |
|
|
| Assets employed |
|
|
| Intangible assets and goodwill |
5,648 |
5,757 |
| Property, plant and equipment |
1,446 |
1,464 |
| Assets held for sale |
945 |
5 |
| Other non-current assets |
567 |
419 |
| Inventory and trade and other receivables |
1,893 |
1,859 |
| Other current assets |
114 |
30 |
| Cash and short-term investments |
379 |
346 |
| Total assets |
10,992 |
9,880 |
| Total current liabilities, excluding borrowings and provisions |
(1,841) |
(1,696) |
| Liabilities directly associated with assets classified as held for sale |
(291) |
- |
| Total non-current liabilities, excluding borrowings, provisions and retirement benefit obligations |
(1,124) |
(1,106) |
| Provisions |
(53) |
(77) |
| Retirement benefit obligations |
(369) |
(485) |
| |
7,314 |
6,516 |
| Financed by |
|
|
| Gross borrowings |
4,279 |
4,216 |
| Minority interests |
27 |
229 |
| Called-up share capital |
260 |
259 |
| Share premium account |
1,135 |
1,098 |
| Ordinary Shareholders' funds |
1,613 |
714 |
| |
7,314 |
6,516 |
| Net Debt |
|
|
| Gross borrowings |
4,279 |
4,216 |
| Less: Cash and short-term investments |
(379) |
(346) |
| |
3,900 |
3,870 |
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Cash Flow and Balance Sheet - 2001 to 2003 (UK GAAP)
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| |
2003
£m |
2002
£m |
2001
£m |
| Cash Flows |
|
|
|
| Cash flow from operating activities and associates |
1,063 |
1,109 |
1,139 |
| Capital expenditure, net |
(285) |
(251) |
(233) |
| Taxation, returns on investment and servicing of finance |
(372) |
(320) |
(295) |
| Ordinary dividends |
(234) |
(223) |
(214) |
| Free Cash Flow |
172 |
315 |
397 |
Balance Sheets |
|
|
|
| Assets employed |
|
|
|
| Intangible assets and goodwill |
5,827 |
3,919 |
3,721 |
| Tangible fixed assets |
1,633 |
1,351 |
1,209 |
| Fixed asset investments (a) |
328 |
319 |
315 |
| Stock and debtors |
1,974 |
1,580 |
1,483 |
| Cash and short-term investments |
433 |
472 |
457 |
| Total assets |
10,195 |
7,641 |
7,185 |
| Total creditors, excluding borrowings |
(2,100) |
(1,793) |
(1,707) |
| Provisions |
(428) |
(419) |
(392) |
| |
7,667 |
5,429 |
5,086 |
| Financed by |
|
|
|
| Gross borrowings |
4,644 |
2,318 |
2,094 |
| Minority interests |
243 |
266 |
303 |
| Called-up share capital |
258 |
257 |
256 |
| Share premium account |
1,071 |
1,050 |
1,019 |
| Ordinary Shareholders' funds (a) |
1,451 |
1,538 |
1,414 |
| |
7,667 |
5,429 |
5,086 |
| Net Debt |
|
|
|
| Gross borrowings |
4,644 |
2,318 |
2,094 |
| Less: Cash and short-term investments |
(433) |
(472) |
(457) |
| |
4,211 |
1,846 |
1,637 |
(a) Restated as a consequence of the adoption of UITF 38.
|
