Consolidated income statement
| For the year ended 31 December 2007 | Notes | 2007 £m |
2006 £m |
2005 £m |
2007 $m2 |
2006 $m2 |
2005 $m2 |
|---|---|---|---|---|---|---|---|
| Billings | 31,665.5 | 30,140.7 | 26,673.7 | 63,536.8 | 55,435.0 | 48,090.6 | |
| Revenue | 2 | 6,185.9 | 5,907.8 | 5,373.7 | 12,395.4 | 10,910.9 | 9,749.1 |
| Direct costs | (335.5) | (296.8) | (241.0) | (672.7) | (547.2) | (437.5) | |
| Gross profit | 5,850.4 | 5,611.0 | 5,132.7 | 11,722.7 | 10,363.7 | 9,311.6 | |
| Operating costs | 3 | (5,045.7) | (4,869.4) | (4,479.9) | (10,104.2) | (8,982.8) | (8,127.3) |
| Operating profit | 2 | 804.7 | 741.6 | 652.8 | 1,618.5 | 1,380.9 | 1,184.3 |
| Share of results of associates | 4 | 41.4 | 41.1 | 33.9 | 82.9 | 76.3 | 61.7 |
| Profit before interest and taxation | 846.1 | 782.7 | 686.7 | 1,701.4 | 1,457.2 | 1,246.0 | |
| Finance income | 6 | 139.4 | 111.0 | 87.6 | 280.3 | 200.9 | 158.4 |
| Finance costs | 6 | (266.1) | (211.7) | (182.3) | (535.0) | (386.9) | (330.4) |
| Profit before taxation | 719.4 | 682.0 | 592.0 | 1,446.7 | 1,271.2 | 1,074.0 | |
| Taxation | 7 | (204.3) | (199.4) | (194.0) | (409.5) | (371.6) | (349.0) |
| Profit for the year | 515.1 | 482.6 | 398.0 | 1,037.2 | 899.6 | 725.0 | |
| Attributable to: | |||||||
| Equity holders of the parent | 465.9 | 435.8 | 363.9 | 938.2 | 812.4 | 663.5 | |
| Minority interests | 49.2 | 46.8 | 34.1 | 99.0 | 87.2 | 61.5 | |
| 515.1 | 482.6 | 398.0 | 1,037.2 | 899.6 | 725.0 | ||
| Headline PBIT | 31 | 928.0 | 859.0 | 754.8 | 1,865.0 | 1,600.9 | 1,364.2 |
| Headline PBIT margin | 31 | 15.0% | 14.5% | 14.0% | 15.0% | 14.7% | 14.0% |
| Headline PBT | 31 | 817.3 | 766.3 | 669.0 | 1,642.7 | 1,430.5 | 1,207.7 |
| Earnings per share1 | 9 | ||||||
| Basic earnings per ordinary share | 39.6p | 36.3p | 30.3p | 79.7¢ | 67.6¢ | 55.3¢ | |
| Diluted earnings per ordinary share | 38.0p | 35.2p | 29.7p | 76.6¢ | 65.6¢ | 54.2¢ | |
Notes
The accompanying notes form an integral part of this income statement.
1The calculations of the Group's earnings per share and Headline earnings per share are set out in note 9.
2The consolidated income statement above is also expressed in US dollars for information purposes only and is unaudited. It has been prepared assuming the US dollar is the reporting currency of the Group, whereby local currency results are translated into US dollars at actual monthly average exchange rates in the period presented. Among other currencies, this includes an average exchange rate of US$2.0019 to the pound sterling for the year 2007 (2006: US$1.8432; 2005: US$1.8189). In prior years' Annual Reports, the US dollar income statement was prepared by applying the average US dollar exchange rate for the relevant year to the sterling denominated consolidated income statement for that year.