Financial highlights
|
|
Management basis(1) |
As reported |
|---|
| 2011(*) |
2010 |
Change |
2011 |
2010 |
Change |
| £m |
£m |
% |
£m |
£m |
% |
| Sales |
6,112 |
5,429 |
+13 |
5,746 |
5,084 |
+13 |
| Operating profit |
468 |
411 |
+14 |
374 |
385 |
-3 |
| Profit before tax |
417 |
363 |
+15 |
351 |
345 |
+2 |
| Earnings per share |
22.6p |
20.7p |
+9 |
18.0p |
19.6p |
-8 |
| Dividend per share |
6.0p |
5.0p |
+20 |
6.0p |
5.0p |
+20 |
|
|
(*) Includes a net £19 million charge relating to the temporary Hoeganaes plant closure in Gallatin, USA.
Group highlights(1)
- Group sales up £683 million (13%) to £6.1 billion, an underlying increase of 10%
- Excluding net £19 million Gallatin charge:
- Trading profit of £487 million, up £76 million, an increase of 18%
- Group trading margin of 8.0%, up from 7.6%, and increased targets set for three divisions
- Profit before tax of £417 million (2010: £363 million), an increase of 15%. Reported profit before tax, £351 million (2010: £345 million)
- Earnings per share up 9% to 22.6 pence per share (2010: 20.7 pence per share)
- Return on average invested capital (excluding 2011 acquisitions) of 18.3% (2010: 17.0%), reflecting higher profitability
- Final dividend of 4.0 pence per share, giving a total for 2011 of 6.0 pence per share (2010: 5.0 pence per share), a 20% increase
- Net debt of £538 million (2010: £151 million), reflecting £444 million for new acquisitions
Notes
Financial information set out in this announcement, unless otherwise stated, is presented on a management basis which aggregates the sales and trading profit of subsidiaries (excluding certain subsidiary businesses sold and closed) with the Group’s share of the sales and trading profit of joint ventures. For complete definition, please refer to the GKN Full Year Results announcement
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