- Strategy & performance
In this section we give an overview of our performance in 2010, plus objectives and our outlook for 2011.
- Business review
Find out about how each of our businesses have performed this year, plus our outlook for each in 2011.
Business overview
For an at a glance overview of the performance of each of our businesses.
- Governance
Find out about how we govern the company, our remuneration policies, the director’s report and a statement of their responsibilities.
- Financials
Including consolidated statements, the auditor’s report, notes to the accounts and a five year summary.
- Shareholder
information
For useful share management and investor information, including key dates for the diary and contact information.
Annual General Meeting
Will be held on Wednesday 11 May 2011 at 11.00 am
| At 31 December | Notes |
2010 £m |
2009 £m |
|---|---|---|---|
| Assets |
|
|
|
| Non-current assets |
|
|
|
| Intangible assets | 11 | 552.1 | 668.2 |
| Property, plant and equipment | 12 | 589.7 | 636.3 |
| Investments in associated undertakings | 13 | 18.7 | 13.4 |
| Other investments | 14 | 2.8 | 1.4 |
| Deferred tax assets | 23 | 10.3 | 26.0 |
| Retirement benefit assets | 24 | 5.0 | – |
| Other receivables | 15 | 29.6 | 26.5 |
| Derivative financial instruments | 16 | 39.7 | 27.3 |
|
|
|
1,247.9 | 1,399.1 |
| Current assets |
|
|
|
| Other investments | 14 | 0.9 | 2.3 |
| Inventories | 17 | 44.7 | 47.3 |
| Trade and other receivables | 15 | 414.1 | 437.5 |
| Derivative financial instruments | 16 | 0.9 | 13.1 |
| Cash and cash equivalents | 18 | 93.0 | 101.7 |
|
|
|
553.6 | 601.9 |
| At 31 December | Notes |
2010 £m |
2009 £m |
|---|---|---|---|
| Liabilities |
|
|
|
| Current liabilities |
|
|
|
| Trade and other payables | 19 | (533.8) | (543.3) |
| Current tax liabilities |
|
(96.5) | (102.4) |
| Provisions for other liabilities and charges | 20 | (31.1) | (56.8) |
| Bank and other short-term borrowings | 21 | (58.6) | (89.7) |
| Derivative financial instruments | 16 | (3.0) | (13.3) |
|
|
|
(723.0) | (805.5) |
| Net current liabilities |
|
(169.4) | (203.6) |
| Non-current liabilities |
|
|
|
| Other payables | 19 | (12.3) | (14.0) |
| Bank and other long-term borrowings | 21 | (988.0) | (1,120.1) |
| Deferred tax liabilities | 23 | (69.9) | (73.8) |
| Retirement benefit obligations | 24 | (16.9) | (64.3) |
| Provisions for other liabilities and charges | 20 | (86.8) | (69.0) |
| Derivative financial instruments | 16 | (29.8) | (4.4) |
|
|
|
(1,203.7) | (1,345.6) |
| Net liabilities |
|
(125.2) | (150.1) |
| At 31 December | Notes |
2010 £m |
2009 £m |
|---|---|---|---|
| Equity |
|
|
|
| Capital and reserves attributable to the company's equity holders |
|
|
|
| Called up share capital | 25 | 18.1 | 18.1 |
| Share premium account |
|
6.8 | 6.8 |
| Other reserves |
|
(1,747.4) | (1,777.3) |
| Retained profits |
|
1,586.8 | 1,593.0 |
|
|
|
(135.7) | (159.4) |
| Non controlling interests |
|
10.5 | 9.3 |
| Total equity |
|
(125.2) | (150.1) |
The financial statements were approved by the board of directors on 14 March 2011 and were signed on its behalf by:
Alan Brown
Chief Financial Officer