Half Yearly Report -6-
30 Novembre 2011 - 8:01AM
UK Regulatory
Beneath the Consolidated income statement adjusted operating
profit is separately disclosed. This is defined as operating profit
before the amortisation of acquired intangibles and significant
items, which includes acquisition, group restructuring and
redundancy costs. The loss before tax is also adjusted in the same
way with the additional adjustment to exclude the net pension
finance cost. A reconciliation of the loss before tax to adjusted
profit before tax is shown beneath the Consolidated income
statement.
b) Movement in net debt
Beneath the Consolidated statement of cash flows a statement of
movement in net debt is shown, being the movement between opening
and closing net debt. An analysis of net debt by balance sheet
heading is also shown.
c) Adjusted earnings per share
Adjusted earnings per share, as shown in note 10, is calculated
by dividing the adjusted earnings attributable to the equity owners
of the parent by the weighted average number of ordinary shares in
issue during the year. The adjusted earnings attributable to the
equity owners of the parent is calculated in note 10 by adjusting
the loss for the period attributable to the owners of the parent by
thethe amortisation of acquired intangibles, significant items and
the net pension finance cost and reversing any related taxation
impact of these items.
d) Net cash flow generated from business operations
Beneath the Consolidated statement of cash flows the cash used
in operations is split into its component parts, representing net
cash flow generated from business operations; restructuring
including redundancy costs; acquisition costs; legacy cash flows
and the funding of the pension deficit.
Goodwill
Subsequent to the acquisition of ERG Inc on 8 November 2010
Goodwill has been adjusted by GBP0.1 million in the half year to 30
September 2011 to reflect a revision to the fair value of Trade and
other payables as at the acquisition date.
Changes in segmental information
The reportable segments remain as US and Europe. However, since
the beginning of the financial year the CODM has received
information on the costs incurred in supporting the corporate
activities of a public limited company separately from those costs
incurred in managing the operations of the two business segments.
Accordingly these 'corporate centre' costs have been shown
separately from the adjusted operating profits of the two business
segments disclosed in note 4.
This split was introduced following the acquisition of ERG in
the US, which increased the size of the Group to the level that the
Corporate centre costs needed to be visible and distinct from the
results of Europe, and following changes to the Group structure,
which introduced a new holding company to manage the Corporate
centre activities. Previously published financial information has
been restated.
4 SEGMENTAL INFORMATION
The Group has only one service, being that of consultancy,
policy support, programme management and data management. The
measure of reported segment profit or loss used by the chief
operating decision maker (CODM) to assess the performance of the
segments is adjusted operating profit. This measurement excludes
the effect of amortisation of acquired intangibles and significant
items as defined in note 3 'Alternative performance measures'.
All amounts provided to the CODM are measured in accordance with
the Group's accounting policies and are therefore consistent with
the amounts presented in the financial statements. Any sales
between segments are carried out at arm's length.
Results of activities considered incidental to the Group's main
operations are reported separately under the heading 'Corporate
centre'. These costs arise from the management of the corporate
function of a public listed company and include managing investor
relations and complying with statutory regulations related to
public listed companies.
The revenue and adjusted operating profit generated by each of
the Group's segments are summarised as follows:
(Unaudited) (Audited)
(Unaudited) Six months Year
Six months ended ended
ended 30 September 31 March
30 September 2010 2011
2011 GBPm GBPm
GBPm restated restated
================================= ============== ============== ==========
US 36.5 22.6 59.0
Europe 16.8 28.0 54.7
================================= ============== ============== ==========
Total segmental revenue 53.3 50.6 113.7
================================= ============== ============== ==========
US 2.9 2.0 7.2
Europe 0.7 1.4 4.4
================================= ============== ============== ==========
Segmental adjusted operating
profit 3.6 3.4 11.6
Corporate centre (1.3) (1.3) (2.8)
================================= ============== ============== ==========
Total adjusted operating profit 2.3 2.1 8.8
================================= ============== ============== ==========
The reconciliation of adjusted operating profit to the loss
before tax is as follows:
(Unaudited) (Unaudited) (Audited)
Six months Six months Year
ended ended ended
30 September 30 September 31 March
2011 2010 2011
GBPm GBPm GBPm
====================================== ============== ============== ==========
Adjusted operating profit 2.3 2.1 8.8
Amortisation of acquired intangibles (0.9) (0.6) (1.3)
Restructuring including redundancy (1.1) (3.7) (9.2)
Acquisition costs (0.1) (4.5) (4.3)
Pension credit from curtailment - - 0.1
====================================== ============== ============== ==========
Operating profit/(loss) 0.2 (6.7) (5.9)
Investment income - 0.1 0.1
Finance income 10.2 10.5 21.2
Finance costs (12.5) (12.7) (25.1)
====================================== ============== ============== ==========
Loss before tax (2.1) (8.8) (9.7)
====================================== ============== ============== ==========
5 SEASONALITY
Revenues are impacted by the timing of the utilisation of
government budgets and the availability of funds, notably around
government year ends. As a result this has historically led to
higher revenue in the second half of the financial year for the
Group.
6 SHARE CAPITAL AND SHARE PREMIUM
Number Nominal
of value of Total
ordinary ordinary Share share capital
shares shares premium and premium
(million) GBPm GBPm GBPm
=================================== =========== ========== ========= ===============
At 1 April 2010 and 30 September
2010 (restated - see below) 228.8 2.3 11.7 14.0
Firm Placing, Placing and Open
Offer 1,111.6 11.1 41.5 52.6
Consideration shares issued on
acquisition of subsidiary 113.2 1.1 4.6 5.7
Capital reduction - - (57.8) (57.8)
=================================== =========== ========== ========= ===============
At 31 March 2011 and 30 September
2011 1,453.6 14.5 - 14.5
=================================== =========== ========== ========= ===============
The total authorised number of ordinary shares as at 30
September 2011 for AEA Technology Group plc was 5,000,000,000
shares (31 March 2011 and 30 September 2010: 5,000,000,000 shares
(restated)) with a par value of 1.0 pence per share. All these
issued shares were fully paid.
As explained in note 23 of the 2011 Annual Report and Accounts
of the Group the Nominal value of ordinary shares, the Share
premium and the reserves as at 1 April 2010 were restated.
Correspondingly the balances as at 30 September 2010 have also been
restated.
7 RETIREMENT BENEFIT OBLIGATIONS
AEA Technology (LSE:AAT)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
AEA Technology (LSE:AAT)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024
