Financial Analysis

"The business is now four times the size it was in 2001. 37% of our profits come from the Academic & Scientific markets."
Peter Rigby - Chief Executive


  • Revenue £1.13 billion - 9% pro forma growth
  • Adjusted operating profit £261.0m - 19% pro forma growth
  • Adjusted operating margin rises above 23%
  • Strong trading across all three divisions (Academic & Scientific, Professional and Commercial) and all three business streams (Publishing, Performance Improvement and Events)
  • Datamonitor delivers 22% pro forma revenue growth for the full year
  • Adjusted cash conversion 110% of adjusted operating profit
  • Total dividend increases 39%
  • Confident of 2008 outlook
2007 2006 Increase Pro forma1
£m £m % %
Revenue 1,129.1 1,039.1 9 9
Operating profit 154.0 128.3 20
Adjusted² operating profit 261.0 219.1 19 19
Profit before tax 124.4 86.5
Adjusted³ profit before tax 202.6 178.1
Profit for period 100.1 67.8
Adjusted4 profit for period 151.9 132.2
Basic earnings per share (p) 23.4 16.0
Diluted earnings per share (p) 23.3 15.9
Adjusted4 diluted earnings per share (p) 35.5 31.1
Dividend per share (p) 16.9 12.2
Adjusted cash conversion5 110% 103%

Notes

  1. Adjusted for material acquisitions and effects of changes in foreign currency exchange rates. This also adjusts for the reduction in revenue of £18m in 2007 from the new 3GSM contract and the impact of the quadrennial IPEX exhibition which contributed £21m to 2006 revenues. The related adjusted operating profit impact for 3GSM was £nil and for IPEX was £7.7m.
  2. Excludes restructuring and reorganisation costs of £7.7m (2006:£7.2m), and intangible asset amortisation of £99.3m (2006: £83.1m).
  3. Excludes restructuring and reorganisation costs of £7.7m (2006:£7.2m), non recurring finance costs of £4.6m (2006:£nil), intangible asset amortisation of £99.3m (2006: £83.1m) and profit on disposal of available for sale investments of £33.4m (2006: loss £0.8m).
  4. Excludes restructuring and reorganisation costs of £7.7m (2006:£7.2m), non recurring finance costs of £4.6m (2006:£nil), intangible asset amortisation of £99.3m (2006: £83.1m), profit on disposal of available for sale investments of £33.4m (2006: loss £0.8m) and related tax of £26.4m (2006:£27.3m).
  5. Adjusted cash generated by operations divided by adjusted operating profit.

Revenue by
Type

Pie chart to show Revenue by Type. Events 36%, Performance Improvement 20%, Copy sales 14%, Subscriptions 27%, Advertising 3%.
Events 36%
Performance Improvement 20%
Copy sales 14%
Subscriptions 27%
Advertising 3%

Revenue by
Geography

Pie chart to show Revenue by Geography. United Kingdom 15%, North America 37%, Continental Europe 29%, Rest of World 19%.
United Kingdom 15%
North America 37%
Continental Europe 29%
Rest of the World 19%

Revenue by
Division

Pie chart to show Revenue by Division. Academic & Scientific 30%, Professional 35%, Commercial 35%.
Academic & Scientific 30%
Professional 35%
Commercial 35%

Adjusted Operating
Profit by Division

Pie chart to show Adjusted Operating Profit by Division. Academic & Scientific 37%, Professional 32%, Commercial 31%.
Academic & Scientific 37%
Professional 32%
Commercial 31%
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