5 year summary

Consolidated income statement

2012
£m
2013
£m
2014
£m
2015
£m
2016
£m
Revenue 4,844.9 5,148.7 5,580.7 5,941.6 6,217.2
Operating profit before amortisation and exceptional items 325.7 347.6 384 412.6 409.0
Amortisation (17.4) (17.9) (17.6) (18.0) (16.6)
Exceptional items (8.7) - (23.3) (140.6) (292.0)
Operating profit 299.6 329.7 343.1 254.0 100.4
Exceptional investment income 39.5 9.4 - - -
Net finance costs (39.9) (26.5) (21.7) (30.5) (27.7)
Profit before tax 299.2 312.6 321.4 223.5 72.7
Income tax expense (50.5) (47.9) (62.7) (55.8) (58.6)
Net profit 248.7 264.7 258.7 167.7 14.1
Basic earnings per share 104.3p 109.9p 105.9p 67.8p 5.1p
Adjusted earnings per share 90.6p 103.6p 119.0p 124.1p 120.4p
Dividend declared per ordinary share (pence) 25.0p 31.0p 38.0p 44.0p 45.0p
Number of branches at 31 December
(Includes branches of associates)
1,896 1,939 1,975 2,028 2,059
Average number of employees 21,632 21,937 23,480 24,670 24,656

Consolidated balance sheet

2012
£m
2013
£m
2014
£m
2015
£m
2016
£m
Assets  
Non-current assets
Property, plant and equipment 578.4 609.9 689.3 849.5 929.5
Goodwill and other intangible assets 2232.3 2223.7 2223.6 2111.9 1889.1
Derivative financial instruments 12.8 9.3 21.2 22.5 1.7
Interest in associates 6.7 7.3 1.7 7.9 11.5
Other receivables         8.3
Investment property and other investments 2.8 3.1 3.6 7.8 9.1
Current assets          
Inventories 637.1 687.7 742.7 761.8 768.0
Trade and other receivables 746.4 822.9 931.8 986.9 1059.3
Cash and cash equivalents 139.1 79.8 108.3 83.8 250.5
Total assets 4355.6 4443.7 4722.2 4832.1 4927.0
Capital and reserves          
Issued capital 24.5 24.7 24.9 25.0 25.1
Share premium account 487.2 498.0 510.5 518.9 528.5
Merger reserve 326.5 326.5 326.5 326.5 326.5
Own shares (62.4) (40.6) (28.5) (15.5) (8.7)
Other reserves 18.5 16.7 16.8 16.9 16.8
Accumulated profits 1461.3 1689.9 1827.5 1918.1 1760.1
Equity attributable to owners of the Company 2255.6 2515.2 2677.7 2789.9 2648.3
Non-controlling interests       5.9 7.3
Total equity 2255.6 2515.2 2677.7 2795.8 2655.6
Non- current liabilities          
Interest bearing loans and borrowings 195.2 421.6 440.0 411.4 621.1
Derivative financial instruments 4.9 4.5 0.5 - -
Retirement benefit obligations 125.9 71.4 97.5 52.2 127.3
Long-term provisions and other payables 67.0 22.6 7.8 7.4 21.2
Deferred tax liabilities 69.1 61.3 66.7 61.3 45.8
Current liabilities          
Interest bearing loans and borrowings 396.1 5.8 43.5 139.8 6.9
Derivative financial instruments 2.6 1.8 - - -
Trade and other payables 1107.6 1218.1 1255.2 1235.5 1348.3
Tax liabilities 74.8 73.2 71.6 90.2 43.8
Short-term provisions 56.8 48.2 61.7 38.5 57.0
Total liabilities 2100.0 1928.5 2044.5 2036.3 2271.4
Total equity and liabilities 4355.6 4443.7 4722.2 4832.1 4927.0

Consolidated cash flow statement

2012
£m
2013
£m
2014
£m
2015
£m
2016
£m
Cash generated from operations 327.6 319.2 310.2 350.3 494.7
Net interest paid (27.3) (20.5) (15.0) (19.7) (22.2)
Income taxes paid (64.5) (59.2) (49.9) (47.8) (104.7)
Net purchases of investments, property and plant (49.7) (90.3) (134.1) (247.1) (186.5)
Interest in associates (2.9) (2.9) (2.1) (3.5) (4.6)
Disposal of businesses - - - - -
Acquisition of businesses net of cash acquired (24.5) (9.3) (15.7) (26.0) (3.2)
Proceeds from issuance of share capital 8.9 13.9 14.3 10.0 9.7
Dividends paid (51.2) (65.1) (81.1) (100.2) (110.5)
Bank facility finance charges - - (2.6) (3.9) (2.4)
Movement in  finance lease liabilities 5.7 (2.1) (2.5) (2.7) 15.9
Repayment of unsecured loan notes - - - (40.8) -
Increase / (decrease) in bank loans (61.6) (143.0) 7.0 106.9 80.5
Net increase / (decrease) in cash and cash equivalents 60.5 (59.3) 28.5 (24.5) 166.7
Net debt at 1 January (583.2) (452.2) (347.6) (375.2) (467.4)
Non cash adjustment 14.6 18.8 (54.2) (8.3) 17.1
Cash flow from debt and debt acquired 55.9 145.1 (1.9) (59.4) (93.9)
Net debt at 31 December (452.2) (347.6) (375.2) (467.4) (377.5)
Free Cash Flow 241.8 239.6 254.7 316.6 393.9