Five year financial summary

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Year ended 31 December
  2004
£m		 2003
Restated)
(4)
£m		 2002
(Restated)
(4)
£m		 2001
(Restated)
(1)
£m		 2000
£m
Turnover 185.4 192.8 182.2 182.2 200.0
Operating profit before exceptional items, goodwill
amortisation and impairment		 17.8 17.8 24.7 30.6 40.1
Interest (1.6) (1.7) (1.6) (2.6) (2.9)
Profit before tax, exceptional items, goodwill
amortisation and impairment		 16.2 16.1 23.1 28.0 37.2
Operating cash flow 22.5 28.7 35.4 42.1 45.8
Free cash flow (2) 11.1 8.3 20.7 18.0 17.6
Capital employed          
Intangible fixed assets 8.2 10.1 11.0 10.8 10.9
Tangible fixed assets 33.9 34.5 42.7 48.5 47.0
Other net assets 30.1 29.3 24.4 34.5 38.5
  72.2 73.9 78.1 93.8 96.4
Financed by          
Shareholders’ funds - equity 56.7 59.8 62.4 67.1 63.7
Net debt 11.3 10.4 11.9 22.5 31.0
Deferred tax 4.1 3.7 3.8 4.2 1.7
  72.2 73.9 78.1 93.8 96.4
Statistics          
Operating profit (%) before exceptional items, goodwill
amortisation and impairment		 9.6 9.3 13.6 16.1 20.1
Effective tax rate (%) before exceptional items, goodwill
amortisation and impairment		 42.0 39.8 39.4 37.1 30.9
Adjusted basic earnings per share (p) (3) 22.9 23.9 34.1 42.9 62.8
Basic earnings per share (p) 15.6 13.6 18.3 32.9 56.7
Dividends per share (p) 15.0 22.7 22.7 22.7 21.2
Year-end mid-market share price (p) 286.0 346.0 277.5 425.0 498.0

(1) On adoption of FRS 19 ‘Deferred Taxation’ in 2002, it was not practical to restate 2000.

(2) Free cash flow is the cash inflow from operating activities after deducting interest, tax and capital expenditure on tangible fixed assets.

(3) Differences between Adjusted basic and Basic earnings per share arise from exceptional items in the years in question and the amortisation of goodwill.

(4) Shareholders’ funds have been restated to show the investment held in respect of grants under share option schemes as a deduction (see Note 1). No such investments were held in 2001 and 2000.

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Information correct at 13/04/05