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Financial Analysis
"The business is now four times the size it was in 2001. 37% of our profits come from the Academic & Scientific markets."
Peter Rigby - Chief Executive
- Revenue £1.13 billion - 9% pro forma growth
- Adjusted operating profit £261.0m - 19% pro forma growth
- Adjusted operating margin rises above 23%
- Strong trading across all three divisions (Academic & Scientific, Professional and Commercial) and all three business streams (Publishing, Performance Improvement and Events)
- Datamonitor delivers 22% pro forma revenue growth for the full year
- Adjusted cash conversion 110% of adjusted operating profit
- Total dividend increases 39%
- Confident of 2008 outlook
|
2007 |
2006 |
Increase |
Pro forma1 |
| £m |
£m |
% |
% |
| Revenue |
1,129.1 |
1,039.1 |
9 |
9 |
| Operating profit |
154.0 |
128.3 |
20 |
|
| Adjusted² operating profit |
261.0 |
219.1 |
19 |
19 |
| Profit before tax |
124.4 |
86.5 |
|
|
| Adjusted³ profit before tax |
202.6 |
178.1 |
|
|
| Profit for period |
100.1 |
67.8 |
|
|
| Adjusted4 profit for period |
151.9 |
132.2 |
|
|
| Basic earnings per share (p) |
23.4 |
16.0 |
|
|
| Diluted earnings per share (p) |
23.3 |
15.9 |
|
|
| Adjusted4 diluted earnings per share (p) |
35.5 |
31.1 |
|
|
| Dividend per share (p) |
16.9 |
12.2 |
|
|
| Adjusted cash conversion5 |
110% |
103% |
|
|
Notes
- Adjusted for material acquisitions and effects of changes in foreign currency exchange rates. This also adjusts for the reduction in revenue of £18m in 2007 from the new 3GSM contract and the impact of the quadrennial IPEX exhibition which contributed £21m to 2006 revenues. The related adjusted operating profit impact for 3GSM was £nil and for IPEX was £7.7m.
- Excludes restructuring and reorganisation costs of £7.7m (2006:£7.2m), and intangible asset amortisation of £99.3m (2006: £83.1m).
- Excludes restructuring and reorganisation costs of £7.7m (2006:£7.2m), non recurring finance costs of £4.6m (2006:£nil), intangible asset amortisation of £99.3m (2006: £83.1m) and profit on disposal of available for sale investments of £33.4m (2006: loss £0.8m).
- Excludes restructuring and reorganisation costs of £7.7m (2006:£7.2m), non recurring finance costs of £4.6m (2006:£nil), intangible asset amortisation of £99.3m (2006: £83.1m), profit on disposal of available for sale investments of £33.4m (2006: loss £0.8m) and related tax of £26.4m (2006:£27.3m).
- Adjusted cash generated by operations divided by adjusted operating profit.
Revenue by
Type
| Events |
36% |
| Performance Improvement |
20% |
| Copy sales |
14% |
| Subscriptions |
27% |
| Advertising |
3% |
Revenue by
Geography
| United Kingdom |
15% |
| North America |
37% |
| Continental Europe |
29% |
| Rest of the World |
19% |
|
Revenue by
Division
| Academic & Scientific |
30% |
| Professional |
35% |
| Commercial |
35% |
Adjusted Operating
Profit by Division
| Academic & Scientific |
37% |
| Professional |
32% |
| Commercial |
31% |
|
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