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Five year summary

All figures in £ millions 2005 2006 2007 2008 2009
Sales
North American Education 1,576 1,679 1,667 2,002 2,470
International Education 559 640 735 886 1,035
Professional 177 211 226 244 275
Education 2,312 2,530 2,628 3,112 3,780
FT Publishing 249 280 344 390 358
Interactive Data 297 332 344 406 484
FT Group 546 612 688 796 842
Penguin 804 848 846 903 1,002
Continuing 3,662 3,990 4,162 4,811 5,624
Discontinued 461 433 167 8 -
Total sales 4,123 4,423 4,329 4,819 5,624
 
Adjusted operating profit
North American Education 260 280 273 303 403
International Education 51 73 92 135 141
Professional 2 17 27 36 43
Education 313 370 392 474 587
FT Publishing 17 27 56 74 39
Interactive Data 80 89 97 121 148
FT Group 97 116 153 195 187
Penguin 60 66 74 93 84
Continuing 470 552 619 762 858
Discontinued 36 40 15 - -
Total adjusted operating profit 506 592 634 762 858
 
Operating margin - continuing 12.8% 13.8% 14.9% 15.8% 15.3%
 
Adjusted earnings
Total adjusted operating profit 506 592 634 762 858
Net finance costs (84) (90) (85) (88) (97)
Income tax* (128) (130) (145) (178) (194)
Minority interest (22) (28) (32) (36) (44)
Adjusted earnings* 272 344 372 460 523
Weighted average number of shares (millions) 797.9 798.4 796.8 797.0 799.3
Adjusted earnings per share* 34.1p 43.1p 46.7p 57.7p 65.4p

*2005 not restated for tax deductibility of goodwill and intangible amortisation

All figures in £ millions 2005 2006 2007 2008 2009
Cash flow
Operating cash flow 570 575 684 796 913
Operating cash conversion 113% 97% 108% 104% 106%
Operating free cash flow 440 434 533 631 723
Operating free cash flow per share 55.1p 54.4p 66.9p 79.2p 90.5p
Total free cash flow 431 433 407 631 723
Total free cash flow per share 54.0p 54.2p 51.1p 79.2p 90.5p
 
Net assets 3,733 3,644 3,874 5,024 4,636
 
Net debt 996 1,059 973 1,460 1,092
 
Return on invested capital (gross basis)
Total adjusted operating profit 506 592 634 762 858
Cash tax paid (65) (59) (61) (89) (103)
Return 441 533 573 673 755
Average invested capital 6,060 6,553 6,423 7,337 8,504
Return on invested capital 7.3% 8.1% 8.9% 9.2% 8.9%
 
Dividend per share 27.0p 29.3p 31.6p 33.8p 35.5p