Financial Summary

Financial statistics 2006 2007* 2008 2009** 2010
  £m £m £m £m £m
           
Revenue and profit        
Port revenue 140.3 159.5 159.4 154.8 157.4
Recycling revenue - - 24.9 17.6 15.7
Property revenue 13.3 5.5 1.6 1.5 8.8
           
Group revenue 153.6 165.0 185.9 173.9 181.9
           
Underlying port operating profit*** 34.2 37.7 43.0 41.5 43.0
Underlying recycling operating profit - - 2.9 1.3 1.1
Underlying property operating profit/(loss) 4.2 (1.3) 0.5 (0.6) 5.7
           
Underlying group operating profit 38.4 36.4 46.4 42.2 49.8
Other income/(expenses) 24.1 12.8 (16.4) 10.4 20.4
One-off costs less income (1.8) (0.0) (29.9) (12.3) (0.7)
Net finance costs *** (8.3) (9.7) (10.9) (10.6) (14.6)
Acquisition accounting adjustment - - - 18.3 -
Share of results of joint ventures (3.0) (9.7) (21.4) (1.7) -
Share of results of associates 2.0 2.5 1.5 0.7 1.4
Gain on disposal of investment
in joint venture
4.2 - - - -
           
Profit/(Loss) before tax 55.6 32.3 (30.7) 47.0 56.3
Taxation (14.5) (7.4) (20.5) (9.9) (11.2)
           
Profit/(Loss) for the year 41.1 24.9 (51.2) 37.1 45.1
           
Balance Sheet          
Non-current assets 423.7 478.3 476.3 563.3 578.4
Current assets 109.1 98.6 67.7 61.9 64.8
Current liabilities (21.2) (31.9) (29.3) (37.9) (41.7)
Net current assets (excluding net debt) 87.9 66.7 38.4 24.0 23.1
Non-current liabilities
(excluding net debt)
(57.5) (44.2) (76.5) (97.0) (96.0)
Net debt (176.6) (205.5) (208.0) (251.1) (231.5)
           
Net assets 277.5 295.3 230.2 239.2 274.0
           
Equity shareholders’ funds 273.2 292.8 229.9 239.0 273.7
Equity minority interests 4.3 2.5 0.3 0.2 0.3
           
Total capital employed 277.5 295.3 230.2 239.2 274.0
           
Basic earnings/(loss) per share 90.5p 55.3p (107.8)p 81.7p 98.4p
Underlying earnings per share 47.0p 46.1p 57.6p 56.2p 59.3p
Annualised dividend per share 45.2p 47.7p 28.6p 28.6p 30.0p

* Recycling revenue and underlying operating profit in 2007 were not material and therefore have not been shown.

** Revised for measurement period adjustment on acquisition of OTL.

*** 2006 to 2009 restated for reallocation of pension scheme interest cost.

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