Preliminary announcement of results for the year ended 31 December 2006
2 March, 2007
Financial highlights
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2006
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2005
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Volumes(1) |
182.4bn |
173.8bn |
up 5.0% |
Total sales |
£8,401m |
£8,214m |
up 2.3% |
Net sales(2) |
£2,734m |
£2,603m |
up 5.0% |
EBITA(3) |
£692m |
£670m |
up 3.4% |
PBTA(4) |
£597m |
£570m |
up 4.9% |
Profit before tax |
£565m |
£516m |
up 9.6% |
Adjusted earnings per share(5) |
65.8p |
63.1p |
up 4.3% |
Basic earnings per share(6) |
61.6p |
56.5p |
up 8.9% |
- Volumes exclude German singles. Including the sales of singles, total volumes grew 4.5% to 183.7bn (2005: 175.8bn).
- Total sales less duty incurred by Group companies.
- Total profit from operations before amortisation of intangible assets of £19m (2005: £19m) and exceptional charges of £13m (2005: £35m).
- Profit before tax, amortisation of intangible assets and exceptional charges.
- Adjusted: before amortisation of intangible assets and exceptional charges (net of tax and minority interests).
- Basic: includes amortisation of intangible assets and exceptional charges (net of tax and minority interests).
Note: | As detailed in the Scheme Document (see page four), on the assumption that the recommended cash offer by Japan Tobacco completes, Gallaher will not be proposing a final dividend in respect of 2006.
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Nigel Northridge, chief executive, said:
"These results again demonstrate our successful strategy. In the 10 years since our demerger, we have built a significant position in the global tobacco market, nearly quadrupled volumes, almost doubled Group EBITA and delivered total shareholder return of some 600%. Our employees have been the cornerstone of this success.
I believe the Offer from Japan Tobacco reflects Gallaher's achievements, and, subject to completion, JT will acquire a justifiably proud, highly efficient and extremely effective organisation."
Enquiries:
Claire Jenkins – director, investor relations and group planning
Tel: 01932 372000
Anthony Cardew – Cardew Group
Tel: 020 7930 0777
Follow this link for the full text of the preliminary results announcement (5,118KB RTF)
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