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.
