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Cadbury Schweppes manufactures, markets and sells confectionery and beverage treats and refreshments. It is the world's largest confectionery company, and has strong regional beverages businesses in North America and Australia. With origins stretching back over 200 years, today Cadbury Schweppes' products are enjoyed in almost every country around the world.
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| £ millions |
2005
(52 wks) |
2004
(53 wks) |
Reported
Currency
Growth
% vs.
53 wks |
Reported
Currency
Growth
% vs.
52 wks |
Constant
Currency3
Growth
% vs.
52 wks2 |
| Revenue |
6,508 |
6,085 |
+7 |
+8 |
+6 |
| - Underlying Profit from Operations1 |
1,033 |
954 |
+8 |
+10 |
+8 |
| - Underlying operating margin5 |
15.9 |
15.7 |
+20bps |
+30bps |
+30bps |
| Profit from Operations |
1,003 |
825 |
+22 |
+23 |
+21 |
| Underlying Profit before Tax1 |
873 |
771 |
+13 |
+14 |
+12 |
| Profit before Tax |
843 |
642 |
+31 |
+33 |
+31 |
| Underlying EPS1 & 4 |
33.9 |
30.7 |
+10 |
+11 |
+9 |
| Reported EPS4 |
37.3 |
25.9 |
+44 |
+45 |
+44 |
| Dividend per share |
13.0p |
12.5p |
+4 |
n/a |
n/a |
As required by IFRS 5, Europe Beverages is classified as a discontinued operation. Revenue, Profit from Operations and Profit before Tax for the 52 weeks to 1 January 2006, exclude Europe Beverages. The prior year comparative information has been re-presented on a consistent basis.
1 Underlying Profit from Operations and Underlying Profit before Tax exclude brand intangible amortisation (£6 million), restructuring costs (£72 million), non-trading items (£25 million) and the impact of fair value accounting under IAS 39 (£23 million). Underlying earnings per share also exclude the tax effects of these adjustments and the credit arising on the recognition of the UK deferred tax asset (£104 million) and the intra-group transfer of intellectual property assets (£11 million). A full reconciliation between underlying and reported measures is included in the segmental analysis.
2 Excluding the estimated impact of sales and profits in the 53rd week of 2004 (see tables in the Financial review).
3 Constant currency growth excludes the impact of exchange rate movements during the period (see tables in the Financial review).
4 EPS is presented on a basic total group basis and therefore includes the earnings contribution from Europe Beverages.
5 10 basis points (bps) equals 0.1%.
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