Group financial record
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| For the year ended 31 December | 2003 $m |
2004 $m |
2005 $m |
2006 $m |
2007 $m |
|---|---|---|---|---|---|
| Turnover and profits | |||||
| Sales | 18,849 | 21,426 | 23,950 | 26,475 | 29,559 |
| Cost of sales | (4,463) | (5,193) | (5,356) | (5,559) | (6,419) |
| Distribution costs | (162) | (177) | (211) | (226) | (248) |
| Research and development | (3,012) | (3,467) | (3,379) | (3,902) | (5,162) |
| Selling, general and administrative costs | (7,393) | (8,268) | (8,695) | (9,096) | (10,364) |
| Other operating income and expense | 188 | 226 | 193 | 524 | 728 |
| Operating profit | 4,007 | 4,547 | 6,502 | 8,216 | 8,094 |
| Profit on sale of interest in joint venture | – | 219 | – | – | – |
| Finance income | 381 | 532 | 665 | 888 | 959 |
| Finance expense | (311) | (454) | (500) | (561) | (1,070) |
| Profit before tax | 4,077 | 4,844 | 6,667 | 8,543 | 7,983 |
| Taxation | (1,033) | (1,161) | (1,943) | (2,480) | (2,356) |
| Profit for the period | 3,044 | 3,683 | 4,724 | 6,063 | 5,627 |
| Attributable to: | |||||
| Equity holders of the Company | 3,022 | 3,664 | 4,706 | 6,043 | 5,595 |
| Minority interests | 22 | 19 | 18 | 20 | 32 |
| Earnings per share | |||||
| Earnings per $0.25 Ordinary Share (basic) | $1.77 | $2.18 | $2.91 | $3.86 | $3.74 |
| Earnings per $0.25 Ordinary Share (diluted) | $1.77 | $2.18 | $2.91 | $3.85 | $3.73 |
| Dividends | $0.725 | $0.835 | $1.025 | $1.410 | $1.750 |
| Return on sales | |||||
| Operating profit as a percentage of sales | 21.3% | 21.2% | 27.2% | 31.0% | 27.4% |
| Ratio of earnings to fixed charges | 100.4 | 93.6 | 85.6 | 92.7 | 15.6 |
| At 31 December | 2003 $m |
2004 $m |
2005 $m |
2006 $m |
2007 $m |
|---|---|---|---|---|---|
| Balance sheet | |||||
| Property, plant and equipment, goodwill and intangible assets | 10,574 | 11,147 | 9,697 | 11,657 | 29,649 |
| Other investments | 133 | 262 | 256 | 119 | 182 |
| Deferred tax assets | 1,261 | 1,218 | 1,117 | 1,220 | 1,044 |
| Current assets | 11,593 | 13,025 | 13,770 | 16,936 | 17,082 |
| Total assets | 23,561 | 25,652 | 24,840 | 29,932 | 47,957 |
| Current liabilities | (6,558) | (6,587) | (6,839) | (9,447) | (15,187) |
| Non-current liabilities | (3,828) | (4,568) | (4,310) | (5,069) | (17,855) |
| Net assets | 13,175 | 14,497 | 13,691 | 15,416 | 14,915 |
| Capital and reserves attributable to equity holders | 13,086 | 14,404 | 13,597 | 15,304 | 14,778 |
| Minority equity interests | 89 | 93 | 94 | 112 | 137 |
| Total equity and reserves | 13,175 | 14,497 | 13,691 | 15,416 | 14,915 |
| For the year ended 31 December | 2003 $m |
2004 $m |
2005 $m |
2006 $m |
2007 $m |
|---|---|---|---|---|---|
| Cash flows | |||||
| Net cash inflow/(outflow) from: | |||||
| Operating activities | 3,368 | 4,817 | 6,743 | 7,693 | 7,510 |
| Investing activities | (852) | 970 | (1,182) | (272) | (14,887) |
| Financing activities | (2,674) | (2,761) | (4,572) | (5,366) | 6,051 |
| (158) | 3,026 | 989 | 2,055 | (1,326) | |
Ratio of earnings to fixed charges
For the purpose of computing these ratios, earnings consist of the income from continuing ordinary activities before taxation of Group companies and income received from companies owned 50% or less, plus fixed charges (excluding capitalised interest). Fixed charges consist of interest (including capitalised interest) on all indebtedness, amortisation of debt discount and expense and that portion of rental expense representative of the interest factor.
