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| IFRS | UK GAAP | ||||
| 2008 £m |
2007 £m |
2006 £m |
2005 £m |
2004 £m |
|
| Income Statement | |||||
| Revenue | |||||
| – Issuer Services | 82.4 | 63.2 | 56.9 | 43.3 | 45.7 |
| – Trading Services | 264.7 | 173.1 | 133.2 | 107.4 | 100.8 |
| – Information Services – ongoing | 143.6 | 105.9 | 94.1 | 86.7 | 79.9 |
| – Information Services – exceptional | – | – | 6.4 | – | – |
| – Post Trade Services | 42.8 | – | – | – | – |
| – Other income | 12.9 | 7.4 | 6.9 | 7.0 | 10.7 |
| Total revenue1 | 546.4 | 349.6 | 297.5 | 244.4 | 237.1 |
| Operating expenses | |||||
| – operating expenses before exceptional items and goodwill amortisation3 | (257.4) | (164.0) | (171.0) | (159.8) | (154.2) |
| – amortisation and exceptional items | (23.8) | (11.4) | (41.1) | (6.8) | – |
| Operating profit before exceptional items and goodwill amortisation3 | 289.0 | 185.6 | 120.1 | 84.6 | 82.9 |
| Profit before taxation | 234.7 | 161.5 | 93.5 | 92.2 | 88.8 |
| Profit for the financial year | 178.5 | 110.6 | 66.8 | 64.5 | 63.1 |
| Basic earnings per share | 73.1p | 50.5p | 27.8p | 24.2p | 21.6p |
| Diluted earnings per share | 71.9p | 49.4p | 27.4p | 23.9p | 21.4p |
| Adjusted basic earnings per share | 73.1p | 56.2p | 37.4p | 24.2p | 21.2p |
| Balance sheet | |||||
| Non–current assets | 1,921.5 | 132.8 | 137.6 | 154.1 | 197.9 |
| Current assets | 17,642.7 | 134.3 | 276.1 | 206.3 | 285.6 |
| Current liabilities | (17,920.9) | (329.4) | (78.7) | (76.8) | (85.5) |
| Non–current liabilities | (374.9) | (287.6) | (46.2) | (47.3) | (32.3) |
| Net liabilities/(assets) | 1,268.4 | (349.9) | 288.8 | 236.3 | 365.7 |
| Cash flow | |||||
| Net cash flow from operating activities before exceptional items | 282.7 | 198.6 | 145.9 | 100.9 | 105.4 |
| Other information | |||||
| Operating margin before exceptional items and goodwill amortisation2,3 | 52.9% | 53.1% | 41.3% | 34.6% | 35.0% |
| Share price – high | £19.79 | £13.50 | £11.90 | £5.90 | £3.83 |
| Share price – low | £11.25 | £10.00 | £4.49 | £3.37 | £2.80 |
| Total dividend per share declared in respect of financial year | 24.0p | 18.0p | 12.0p | 7.0p | 4.8p |
Basis of preparation of Financial Record
1 Financial information for the year ended 31 March 2004 is presented under UK GAAP. In line with IFRS 1 paragraph 37, the Company has not restated financial information for periods prior to the date of transition to IFRS (1 April 2004). The main changes arising from the introduction of IFRS are in respect of goodwill amortisation, pensions, share-based payments, lease rentals, property depreciation and dividends.
2 Analysis of revenue numbers for UK GAAP for year ended 31 March 2004 exclude turnover from joint ventures, and reflect reclassifications between segments as reflected in the IFRS numbers.
3 Operating expenses, operating profit, and operating margin before exceptional items all exclude goodwill amortisation in the UK GAAP numbers for year ended 31 March 2004.
4 Financial information for the year ended 31 March 2008 includes information for Borsa Italiana S.p.A. and its subsidiaries from the date of the merger, 1 October 2007.
Business performance
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