NORTHERN & SHELL FINANCIAL HIGHLIGHTS 2007
The Northern & Shell Network can report that once again it has maintained its track record of consistent revenue and profit growth across all areas. There is a strong balance sheet and cash flow and a growing portfolio of media assets. Particular expansion has been seen in magazine publishing both in the UK and worldwide, newspapers have maintained profit in challenging market conditions, and television and electronic media have expanded into new areas. The Group continues to be well placed to pursue opportunities as they arise.
RECORD REVENUES
Turnover, including share of JV's, £485.0M ($965.4M), 2006: £460.5M ($916.7M)
UNDERLYING EARNINGS*
EBIT £78.9M ($157.1M), 2006: £75.4M ($150.1M)
EBITDA £88.5M ($176.2M), 2006: £84.9M ($169.0M)
INCREASE IN NET CASH DURING THE YEAR £71.0M ($141.3M)
Total cash at bank as at 31 December 2007 of £122.2M ($243.3M)
Net assets (excluding pension liability) of £80.3M ($159.8M), 2006: £29.0M ($57.7M)
*Underlying results are presented to provide a better indication of overall financial performance and to reflect how the business is managed and measured on a day to day basis. Underlying results exclude the amortisation and impairment of intangible fixed assets, any profit or loss on the disposal or closure of business, investment start up losses, pension accounting adjustments and unusual or one-off items including re-organisation costs.
GBP/USD 1.9906 at 31 December 2007
