Group OverviewSenior Management ReviewOperating and Financial ReviewDirectors’ ReportsAccountsShareholder Information

At 31 December 2006

  Note 2006
£m		 2005*
£m
Assets      
Non-current assets      
Intangible assets 14 697.6 766.3
Property, plant and equipment 15 501.9 514.4
Financial assets – Available for sale 17 13.5 11.4
  – Derivative financial instruments 17 0.3 0.6
Investments accounted for using the equity method 18 8.7 4.8
Other receivables 20 4.1 26.2
Deferred tax asset 27 10.6 23.0
    1,236.7 1,346.7
Current assets      
Inventories 21 15.5 18.7
Trade and other receivables 22 272.3 301.8
Financial assets – Derivative financial instruments 17 8.1 6.7
Current tax assets   26.4 11.3
Cash and cash equivalents 23 143.6 145.5
    465.9 484.0
Disposal group assets classified as held for sale 11 20.1 –
Total assets   1,722.7 1,830.7
Non-current liabilities      
Financial liabilities – Borrowings 28 (538.4) (495.5)
  – Derivative financial instruments 28 (8.3) (8.3)
Deferred tax liability 27 (84.3) (81.9)
Other non-current liabilities 25 (3.0) (6.1)
Defined benefit pension liability 35 (52.8) (88.8)
Provisions 26 (61.3) (41.3)
    (748.1) (721.9)
Current liabilities      
Trade and other payables 24 (518.4) (532.4)
Financial liabilities – Borrowings 28 (43.6) (214.4)
  – Derivative financial instruments 28 (6.4) (13.4)
Current tax liabilities   (40.9) (24.0)
Provisions 26 (17.4) (12.3)
    (626.7) (796.5)
Liabilities directly associated with disposal group assets classified as held for sale 11 (2.4) –
Total liabilities   (1,377.2) (1,518.4)
Net assets   345.5 312.3
Shareholders’ equity      
Called up share capital 32 7.7 7.5
Share premium account 33 189.8 174.2
Capital redemption reserve 33 0.2 0.2
Own shares 33 (16.7) (5.1)
Other reserves 34 7.9 24.5
Retained earnings 33 153.3 108.1
Total shareholders’ equity   342.2 309.4
Minority interest in equity   3.3 2.9
Total equity   345.5 312.3

*Adjusted for Alsa fair value movements as required by IFRS 3.

S R Bowker CBE Chief Executive
A C Walker Finance Director
1 March 2007

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