REG - Sage Group PLC - Final Results <Origin Href="QuoteRef">SGE.L</Origin> - Part 2
03/12/2014 07:10
- Part 2: For the preceding part double click ID:nRSC6740Ya
2.1 - 2.1 1.4 - 1.4
Finance costs (22.2) (0.8) (23.0) (16.6) (1.2) (17.8)
Finance costs - net (20.1) (0.8) (20.9) (15.2) (1.2) (16.4)
Profit before income tax 339.7 (62.2) 277.5 360.6 (196.5) 164.1
Income tax expense 3 (90.5) 0.7 (89.8) (99.2) (17.4) (116.6)
Profit for the year 249.2 (61.5) 187.7 261.4 (213.9) 47.5
Profit attributable to:
Owners of the parent 248.3 (61.5) 186.8 260.3 (213.9) 46.4
Non-controlling interest 0.9 - 0.9 1.1 - 1.1
249.2 (61.5) 187.7 261.4 (213.9) 47.5
Earnings per share attributable to the owners of the parent (pence)
Basic 5 22.69p 17.07p 22.27p 3.97p
Diluted 5 22.65p 17.04p 22.23p 3.96p
*Underlying as reported is at actual 2013 reported exchange rates.
Consolidated statement of comprehensive income
For the year ended 30 September 2014
2014 2013
£m £m
Profit for the year 187.7 47.5
Other comprehensive income/(expense):
Items that will not be reclassified to profit or loss:
Actuarial (loss)/gain on post-employment benefit obligations (0.4) 1.1
Deferred tax credit/(charge) on actuarial loss/gain on post-employment benefit obligations 0.4 (0.4)
- 0.7
Items that may be reclassified to profit or loss:
Exchange differences on translating foreign operations (39.6) 28.4
Exchange differences recycled to the income statement in respect of the disposal of foreign operations - (44.5)
(39.6) (16.1)
Other comprehensive expense for the period, net of tax (39.6) (15.4)
Total comprehensive income for the year 148.1 32.1
Total comprehensive income for the period attributable to:
- Owners of the parent 147.2 31.0
- Non-controlling interest 0.9 1.1
148.1 32.1
Consolidated balance sheet
As at 30 September 2014
Note 2014 2013
£m £m
Non-current assets
Goodwill 6 1,433.0 1,515.2
Other intangible assets 6 98.1 113.5
Property, plant and equipment 6 126.7 128.8
Deferred income tax assets 21.9 18.7
1,679.7 1,776.2
Current assets
Inventories 2.0 2.2
Trade and other receivables 321.5 311.2
Cash and cash equivalents (excluding bank overdrafts) 9 144.6 100.8
468.1 414.2
Total assets 2,147.8 2,190.4
.
Current liabilities
Trade and other payables (297.3) (287.6)
Current income tax liabilities (23.7) (35.7)
Borrowings (125.4) (21.0)
Other financial liabilities (60.1) (30.0)
Deferred consideration (3.5) (8.2)
Deferred income (402.7) (406.8)
(912.7) (789.3)
Non-current liabilities
Borrowings (415.8) (440.6)
Other financial liabilities 7 - (54.2)
Post-employment benefits (13.6) (12.9)
Deferred income tax liabilities (19.1) (23.1)
Deferred income (2.7) -
(451.2) (530.8)
Total liabilities (1,363.9) (1,320.1)
Net assets 783.9 870.3
.
Equity attributable to owners of the parent
Ordinary shares 8 11.7 11.7
Share premium 8 535.9 532.2
Other reserves 88.8 60.4
Retained earnings 147.5 267.0
Total equity attributable to owners of the parent 783.9 871.3
Non-controlling interest - (1.0)
Total equity 783.9 870.3
Consolidated statement of cash flows
For the year ended 30 September 2014
Notes 2014 2013
£m £m
Cash flows from operating activities
Cash generated from continuing operations 9 382.4 417.4
Interest paid (21.6) (12.6)
Income tax paid (107.2) (118.6)
Net cash generated from operating activities 253.6 286.2
Cash flows from investing activities
Acquisitions of subsidiaries, net of cash acquired 10 (14.1) (14.7)
Acquisition of other financial assets - (6.0)
Disposal of subsidiaries, net of cash disposed 10 - 81.4
Purchases of intangible assets 6 (8.3) (9.6)
Purchases of property, plant and equipment 6 (19.7) (14.1)
Proceeds from sale of property, plant and equipment 1.1 4.7
Interest received 2.1 1.4
Net cash generated from investing activities (38.9) 43.1
Cash flows from financing activities
Proceeds from issuance of ordinary shares 8 3.7 7.7
Purchase of treasury shares (91.0) (251.0)
Purchase of non-controlling interest 7 (50.4) -
Finance lease principal payments (1.9) (1.1)
Proceeds from borrowings 171.0 514.1
Repayments of borrowings (71.8) (256.5)
Movements in cash collected from customers 15.5 9.5
Dividends paid to owners of the parent 4 (126.2) (320.8)
Net cash used in financing activities (151.1) (298.1)
Net increase in cash, cash equivalents and bank overdrafts 9 63.6 31.2
(before exchange rate movement)
Effects of exchange rate movement 9 (2.8) (2.7)
Net increase in cash, cash equivalents and bank overdrafts 60.8 28.5
Cash, cash equivalents and bank overdrafts at 1 October 9 82.9 54.4
Cash, cash equivalents and bank overdrafts at 30 September 9 143.7 82.9
Consolidated statement of changes in equity
For the year ended 30 September 2014
Attributable to owners of the parent
Ordinary shares Share premium Other reserves Retained earnings Total Non-controlling interest Total equity £m
£m £m £m £m £m £m
At 1 October 2013 11.7 532.2 60.4 267.0 871.3 (1.0) 870.3
Profit for the year - - - 186.8 186.8 0.9 187.7
Other comprehensive income/(expense):
Exchange differences on translating foreign operations - - (39.6) - (39.6) - (39.6)
Actuarial gain on post-employment benefit obligations - - - (0.4) (0.4) - (0.4)
Deferred tax credit on actuarial gain on post-employment obligations - - - 0.4 0.4 - 0.4
Total comprehensive (expense)/income - - (39.6) 186.8 147.2 0.9 148.1
for the year ended 30 September 2014
Transactions with owners:
Employee share option scheme:
- Proceeds from shares issued - 3.7 - - 3.7 - 3.7
- Value of employee services, net of deferred tax - - - 7.8 7.8 - 7.8
Purchase of treasury shares - - - (89.5) (89.5) - (89.5)
Expenses related to purchase of treasury shares - - - (0.2) (0.2) - (0.2)
Close period share buyback programme - - - (30.1) (30.1) - (30.1)
Purchase of non-controlling interest - - 68.0 (68.1) (0.1) 0.1 -
Dividends paid to owners of the parent - - - (126.2) (126.2) - (126.2)
Total transactions with owners - 3.7 68.0 (306.3) (234.6) 0.1 (234.5)
for the year ended 30 September 2014
At 30 September 2014 11.7 535.9 88.8 147.5 783.9 - 783.9
Attributable to owners of the parent
Ordinary shares Share premium Other reserves Retained earnings Total Non-controlling interest Total equity £m
£m £m £m £m £m £m
At 1 October 2012 13.3 524.5 76.5 760.8 1,375.1 (2.1) 1,373.0
Profit for the year - - - 46.4 46.4 1.1 47.5
Other comprehensive income/(expense):
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