Financial Overview
| 2007 £m |
2006 £m |
|
|---|---|---|
| Non-current assets | ||
| Goodwill | 815.9 | 667.8 |
| Intangible assets | 23.9 | 17.1 |
| Property, plant and equipment | 53.8 | 50.5 |
| Interests in associates and joint venture | 19.3 | 15.6 |
| Deferred tax asset | 15.8 | 12.1 |
| Available-for-sale financial assets | 2.3 | 2.8 |
| Other financial assets | 1.7 | 0.6 |
| Derivative financial assets | - | 0.1 |
| 932.7 | 766.6 | |
| Current assets | ||
| Inventory: work in progress | 15.5 | 14.7 |
| Derivative financial assets | 0.1 | 0.9 |
| Trade and other receivables | 2,090.6 | 1,597.8 |
| Other financial assets | 0.3 | 16.4 |
| Cash at bank and in hand and short-term deposits | 356.8 | 284.2 |
| 2,463.3 | 1,914.0 | |
| Total assets | 3,396.0 | 2,680.6 |
| LIABILITIES | ||
| Current liabilities | ||
| Trade and other payables | (2,322.3) | (1,854.0) |
| Short-term borrowings and overdrafts | (85.1) | (138.1) |
| Derivative financial liabilities | (0.3) | - |
| Other financial liabilities | (0.1) | - |
| Current tax liabilities | (19.1) | (19.1) |
| (2,426.9) | (2,011.2) | |
| Net current assets/(liabilities) | 36.4 | (97.2) |
| Non-current liabilities | ||
| Long-term borrowings | (516.9) | (353.0) |
| Other long-term liabilities | (112.8) | (85.8) |
| Derivative financial liabilities | (15.9) | (9.3) |
| Deferred tax liabilities | (8.3) | (4.0) |
| Provisions | (1.8) | (0.7) |
| (655.7) | (452.8) | |
| Total liabilities | (3,082.6) | (2,464.0) |
| Net assets | 313.4 | 216.6 |
| EQUITY | ||
| Share capital | 57.7 | 57.1 |
| Shares to be issued | 4.7 | - |
| Own shares | (30.9) | (22.1) |
| Share premium account | 238.7 | 229.4 |
| Capital redemption reserve | 0.2 | 0.2 |
| Foreign currency translation reserve | 6.4 | (16.2) |
| Retained earnings/(accumulated losses) | 45.3 | (27.4) |
| Equity attributable to equity holders of the parent | 322.1 | 221.0 |
| Minority interests | 6.3 | 7.5 |
| Potential acquisition of minority interests | (15.0) | (11.9) |
| Total equity | 313.4 | 216.6 |
These financial statements were approved by the Board of directors on 18 March 2008 and were signed on its behalf by: Robert Lerwill (chief executive officer) Alicja Lesniak (chief financial officer)