Financial highlights

Highlights 2010 results

• Revenue £2,950.6 million, up 16 per cent on 2009
• EBITA¹ £271.8 million, up 30 per cent
• EBITA margin² 9.2 per cent, 100 basis points higher
• Diluted EPS from continuing operations⁴ 62.5 pence, up 33 per cent
• Order book strong at £3.1 billion, order intake over 25 per cent above 2009
• Cash flow conversion 83 per cent, operating cash flow £227 million⁵
• Continued financial strength, net cash as at 31 December 2010 £740 million
• Dividends per share up 50 per cent, to 26.5 pence, over last five years dividends have more than doubled. Progressive dividend policy to be maintained, with cover of 2 to 2.5 times

^{1 EBITA for continuing operations before intangible amortisation and exceptional items but including joint venture profit before tax
2 EBITA as defined above as a percentage of revenue
3 EBITA, as defined above, plus net financing income of £7.9 million (2009: £7.3 million)
4 Diluted earnings per share from continuing operations before intangible amortisation and exceptional items
5 Cash generated from operations before exceptional items and discontinued operations, legacy settlements and pension payments in excess of amounts recognised in the income statement but including dividends received from joint ventures}