Preliminary Results -7-
November 30 2011 - 2:01AM
UK Regulatory
Trade payables - current (2.9) (11.0) (3.1) (4.9) (21.9)
Other segment liabilities (41.6) (46.1) (4.9) (14.3) (106.9)
Unallocated liabilities:
- borrowings (135.1)
- current tax liabilities (12.2)
- deferred tax liabilities (6.1)
- retirement benefit obligations (32.8)
- derivative financial instruments (6.4)
- other unallocated liabilities (3.4)
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Total liabilities (324.8)
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Total net liabilities (14.3)
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Government
and Business Management Regulated Total
Highways Services Consulting Industries Group
2010 GBPm GBPm GBPm GBPm GBPm
========================================== ======== ============== =========== =========== =======
Revenue 254.6 231.3 59.1 87.6 632.6
========================================== ======== ============== =========== =========== =======
Underlying operating profit 19.4 15.0 3.9 2.9 41.2
Restructuring costs and asset impairment
charges (7.3) (8.2) (3.6) (17.4) (36.5)
Amortisation of intangible assets arising
from business combinations (2.1) (1.3) (2.9) (0.5) (6.8)
Segment operating profit/(loss) 10.0 5.5 (2.6) (15.0) (2.1)
Other Group exceptionals (1.9)
========================================== ======== ============== =========== =========== =======
Operating loss (4.0)
Interest receivable 0.2
Finance costs (10.9)
========================================== ======== ============== =========== =========== =======
Loss before tax (14.7)
Taxation 1.2
========================================== ======== ============== =========== =========== =======
Loss for the year (13.5)
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Assets by segment
========================================== ======== ============== =========== =========== =======
Goodwill and other intangibles 34.7 61.2 56.2 17.7 169.8
Trade and other receivables 41.0 29.3 9.8 33.1 113.2
Other segment assets 6.7 25.4 1.9 5.9 39.9
Unallocated assets:
- deferred tax assets 26.5
- cash 45.4
- other unallocated assets 4.9
========================================== ======== ============== =========== =========== =======
Total assets 399.7
========================================== ======== ============== =========== =========== =======
Liabilities by segment
========================================== ======== ============== =========== =========== =======
Trade payables - current (8.3) (16.2) (5.3) (4.4) (34.2)
Other segment liabilities (23.0) (43.8) (6.7) (36.8) (110.3)
Unallocated liabilities:
- borrowings (126.7)
- current tax liabilities (12.3)
- deferred tax liabilities (8.3)
- retirement benefit obligations (53.0)
- derivative financial instruments (7.7)
- other unallocated liabilities (3.2)
========================================== ======== ============== =========== =========== =======
Total liabilities (355.7)
========================================== ======== ============== =========== =========== =======
Total net assets 44.0
========================================== ======== ============== =========== =========== =======
Geographical analysis
The table below represents revenue by geographical origin (the
analysis by geographical destination is not materially different to
that by origin) and the carrying amount of non-current assets (1) ,
split according to the geographical location of those assets.
Non-current
Revenue assets(1)
2011 2010 2011 2010
GBPm GBPm GBPm GBPm
=========================== ===== ===== ====== =====
United Kingdom 512.4 612.0 127.4 185.9
Middle East 25.6 19.2 0.6 0.8
Australasia 11.9 - 0.1 -
Ireland and other overseas 1.5 1.4 - -
=========================== ===== ===== ====== =====
551.4 632.6 128.1 186.7
=========================== ===== ===== ====== =====
The Middle East revenue for the period to 31 July 2011 includes
GBP11.8m relating to business process re-engineering for the
municipalities in Abu Dhabi which is included within the Management
Consulting business segment with the balance being included in
Regulated Industries.
(1) Non-current assets exclude financial instruments, deferred
tax assets and retirement benefit assets
3 Exceptional items
Group
Government
and
Business Management Regulated
Highways Services Consulting Industries Group 2011 2010
GBPm GBPm GBPm GBPm GBPm GBPm GBPm
================================= ======== ========== ========== ========== ====== ====== ======
Restructuring costs and asset
impairment
charges in the Middle East (1) - - - (0.1) - (0.1) (15.2)
Restructuring costs in the UK (2) (2.2) 1.3 (0.6) (0.1) (1.6) (3.2) (22.5)
Recovery of prior year's
exceptional
charges in Regulated Industries
(3) - - - 1.5 - 1.5 -
Bid defence costs (4) - - - - (2.1) (2.1) (0.7)
Pension settlement/curtailment
gain
from customer contract change
(5) - 1.9 - - - 1.9 -
Costs associated with planned
business
disposals(6) - - - (1.0) - (1.0) -
Loss on Management Consulting's
Business Process Re-engineering
contract in Middle East (7) - - (3.9) - - (3.9) -
Finance costs (8) - - - - (7.2) (7.2) -
Provision regarding Holleran
Mouchel
joint venture (9) - - - (4.0) - (4.0) -
Amortisation of intangible assets
arising from business
combinations
(10) (2.2) (1.3) (2.5) (0.4) - (6.4) (6.8)
Impairment of goodwill - - (41.3) (4.0) - (45.3) -
================================= ======== ========== ========== ========== ====== ====== ======
Total exceptional items (4.4) 1.9 (48.3) (8.1) (10.9) (69.8) (45.2)
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