Pro forma Group (unaudited) financial results
| 12 months ended 30 September 2008 |
12 months ended 30 September 2007 |
Change % |
|
|---|---|---|---|
| Revenue (£m)* | 8,809.8 | 7,878.5 | +11.8 |
| Profit from operations (£m)** | 365.9 | 244.2 | +49.8 |
| Operating profit margin % *** | 4.2 | 3.1 | +35.5 |
| Adjusted earnings per share (p) ‹ | 24.1 | 17.1 | +40.9 |
| Dividend per share (p) | 9.75 | 5.00 | +95.0 |
| Adjusted dividend cover › | 2.5 | 2.5 | – |
| Operating cash flow (£m) | 220.2 | 215.3 | +2.3 |
| Net (debt)/funds (£m) | (292.5) | 393.6 |
Statutory Group financial results
| 11 months ended 30 September 2008 |
12 months ended 31 October 2007 |
|
|---|---|---|
| Revenue (£m) | 8,167.1 | 6,404.5 |
| Profit before tax (£m) | 49.5 | 190.2 |
| Earnings per share (p) | 4.7 | 22.0 |
| Operating cash flow (£m) | 357.2 | 160.6 |
Basis of financial information
The results included within this report reflect both unaudited pro forma and audited statutory information for Thomas Cook Group plc. The pro forma information has been prepared, following the change in year end from 31 October to 30 September, to allow a more meaningful year on year comparison of the development of the business and reflects the underlying results for the twelve months to 30 September 2008 and the twelve months to 30 September 2007. The prior year pro forma figures have been prepared as if the merger of Thomas Cook AG and MyTravel Group plc had taken place prior to 1 October 2006 (the first day of the comparative accounting period presented). The pro forma financial information has been prepared on an adjusted basis which means before exceptional items, amortisation of intangible assets that arose from the business combination, interest and tax (unless otherwise indicated), and excludes our share of the results of associates and joint ventures.
The audited statutory information reflects the results of Thomas Cook Group plc for the eleven months to 30 September 2008 and the twelve months to 31 October 2007. The prior year comparatives reflect the results of Thomas Cook AG only for the period from 1 November 2006 to 18 June 2007 and of Thomas Cook Group plc from 19 June 2007, being the date that the merger completed.
During the period, we changed the presentational currency for the Group to sterling as we now expect to generate the majority of our profits in non-euro countries, with the UK being by far the largest. Consequently, all the financial information, including the prior year comparatives, included in this report has been presented in sterling.
