Income Statement

For the year ended 31 December 2018

  Results before specific adjusting items Specific adjusting items (1)
Total Restated results before specific adjusting items (2,3) Specific adjusting items (1) Restated total (2,3)
  2018 2018 2018 2017 2017 2017
  £m £m £m £m £m £m
Revenue  1,033.9  -  1,033.9 1,001.4 - 1,001.4
             
Operating costs before restructuring costs and other items and amortisation of intangible assets  (909.1)    (909.1) (880.7)   (880.7)
Profit from operations before restructuring costs and other items and amortisation/impairment of intangible assets  124.8  -  124.8 120.7 - 120.7
             
Restructuring costs and other items            
Net pension past service credit -
 5.7  5.7 - - -
Business closure and exit costs - (15.2)
(15.2)
- - -
Net profit on disposal of business -
-
-
- 45.7 45.7
Profit from operations before amortisation of intangible assets 124.8
(9.5)
115.3
120.7 45.7 166.4
             
Amortisation of intangible assets  (8.0) -
 (8.0) (7.3) - (7.3)
Operating profit 116.8
(9.5)
107.3
113.4 45.7 159.1
             
Finance income 1.3
-
1.3
1.8 - 1.8
Finance expense (14.5) -
 (14.5) (24.3) - (24.3)
Net financing costs  (13.2) -
 (13.2) (22.5) - (22.5)
             
Share of profit of associate (net of income tax) 0.8
-
0.8
0.2 - 0.2
Profit before taxation 104.4
(9.5)
94.9
91.1 45.7 136.8
             
Income tax expense  (29.0) (1.7)
 (30.7) (26.9) 5.0 (21.9)
             
Profit from continuing operations
75.4 (11.2) 64.2
64.2 50.7 114.9
 Loss from discontinued operation (1.4)
(9.3)
(10.7)
(1.0) - (1.0)
 Profit for the period 74.0 (20.5)
53.5
63.2 50.7  113.9
             
Profit for period attributable to:            
      Owners of the parent 66.8
(20.5)
46.3
56.9 50.7 107.6
      Non-controlling interests 7.2
- 7.2 6.3 - 6.3
Profit for the period 74.0
(20.5)
53.5
63.2 50.7 113.9
             
Earnings per share            
Continuing operations and discounted operations            
Basic Earnings per share     16.2p     37.8p
Diluted earnings per share     16.1p
    37.5p
             
Continuing operations only
           
Basic earnings per share     20.0p     38.1p
Diluted earnings per share     19.9p     37.9p
             
Dividends            
Interim dividend                   - pence     4.00p
    4.00p
                                            - £m     11.4
    11.4
             
Proposed final dividend     - pence     7.00p
    7.00p
                                            - £m     20.0
    20.0
             
The proposed final dividend is based upon the number of shares outstanding at the balance sheet date.            
             

1. Details of specific adjusting items are given in note 4 to the consolidated financial statements.
2. The Group disposed of the Composites and Defence Systems business in 2018, the disposal group formed the Composites and Defence Systems operating segment and has been classified as a discontinued operation under IFRS 5. The years ended 31 December 2018 and 2017 have been presented as Continuing operations throughout the Consolidated financial statements. Further details are provided in note 7 to the consolidated financial statements.
3.The year ended 31 December 2018 has been prepared reflecting the adoption of IFRS 15. The year ended 31 December 2017 has been restated to reflect the adoption of IFRS 15. Further details are provided in note 15 to the consolidated financial statements.