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1 Segmental information

Primary reporting format – business segments

The Group is organised into three main business segments: the Marketing and Distribution Division, comprising the Americas and Europe and Asia Pacific, and the Industrial Products Division.

Revenue
Note 2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m
Marketing and Distribution Division
Americas 326.7 329.3
Europe and Asia Pacific 344.2 320.6
Total Marketing and Distribution Division 670.9 649.9
Industrial Products Division 73.8 73.4
Continuing operations 744.7 723.3
Discontinued operations 24 19.3 121.1
764.0 844.4
Segment result (operating profit)
Note 2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m
Continuing operations
Marketing and Distribution Division
Americas 31.0 30.5
Europe and Asia Pacific 53.4 49.1
Total Marketing and Distribution Division 84.4 79.6
Industrial Products Division 14.8 13.7
Head Office costs (11.2) (10.2)
Total operating profit 88.0 83.1
Finance income (interest receivable) 3 0.9 0.6
Total finance costs 3 (17.7) (21.4)
Profit before taxation 71.2 62.3
Taxation 5 (21.4) (20.0)
Profit after taxation from continuing operations 49.8 42.3
(Loss)/profit after taxation from discontinued operations 24 (13.5) 10.1
Profit for the financial year (attributable to ordinary shareholders) 36.3 52.4

Prior year figures have been restated to reflect the reclassification of the BuckHickman business as a discontinued operation following its disposal on 10 April 2007. The trading results of this business are detailed in note 24.

Segment assets Segment liabilities
2008
£m 		2007
£m		 2008
£m 		2007
£m
Marketing and Distribution Division
Americas 182.2 182.4 (30.6) (29.0)
Europe and Asia Pacific 208.8 250.6 (41.6) (53.4)
Total Marketing and Distribution Division 391.0 433.0 (72.2) (82.4)
Industrial Products Division 44.2 44.2 (14.5) (13.7)
Head Office 0.3 0.8 (19.6) (30.1)
Segment assets/(liabilities) 435.5 478.0 (106.3) (126.2)
Unallocated assets/(liabilities):
Cash and cash equivalents 37.6 32.2 – –
Financial liabilities – – (291.7) (313.5)
Deferred tax assets/(liabilities) 0.2 0.2 (33.0) (30.7)
Income tax liabilities – – (22.2) (28.0)
473.3 510.4 (453.2) (498.4)

IFRS does not require the restatement of prior year assets or liabilities for discontinued operations.

Capital expenditure (including acquisitions)
Property, plant and equipment Intangible assets (including computer software)
2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m		 2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m
Marketing and Distribution Division
Americas 1.1 2.6 5.0 3.3
Europe and Asia Pacific 4.1 4.2 5.3 3.6
Total Marketing and Distribution Division 5.2 6.8 10.3 6.9
Industrial Products Division 1.2 0.8 0.1 –
Continuing operations 6.4 7.6 10.4 6.9
Discontinued operations – 0.6 – 0.1
6.4 8.2 10.4 7.0
Depreciation Amortisation of intangible assets Impairment of trade receivables
Note 2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m		 2008
(53 weeks)
£m		 2007
(52 weeks)
(restated)
£m		 2008
(53 weeks)
£m 		2007(52 weeks)
(restated)
£m
Marketing and Distribution Division
Americas 2.7 2.9 5.8 5.4 0.8 0.7
Europe and Asia Pacific 3.9 4.2 5.2 4.6 0.7 0.5
Total Marketing and Distribution Division 6.6 7.1 11.0 10.0 1.5 1.2
Industrial Products Division 1.3 1.4 0.2 0.2 0.1 0.1
Continuing operations 7.9 8.5 11.2 10.2 1.6 1.3
Discontinued operations 24 0.1 0.9 0.1 0.5 – 0.1
8.0 9.4 11.3 10.7 1.6 1.4

Revenues between business segments are not significant. Head Office costs represent the cost of the central head office and the Group Board. Cash and cash equivalents and financial liabilities are managed on a Group basis and thus it is not practical to allocate these assets/liabilities to segments.

Secondary reporting format – geographic segments

The Group’s operations are based in two main geographical areas, the Americas and the UK, with the remainder based in the Rest of Europe and the Asia Pacific Region.

Revenue Capital expenditure
Note 2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m		 2008
(53 weeks)
£m 		2007
(52 weeks)
(restated)
£m
Americas 400.4 402.7 7.3 6.7
UK 179.1 172.3 7.0 6.4
Rest of Europe and Asia Pacific 165.2 148.3 2.5 1.4
Continuing operations 744.7 723.3 16.8 14.5
Discontinued operations 24 19.3 121.1 – 0.7
764.0 844.4 16.8 15.2

Revenue from discontinued operations relates entirely to the UK (2007: £101.0 million in the UK and £20.1 million in the Rest of Europe and Asia Pacific). Capital expenditure from discontinued operations in 2007 related to the UK.

The sales analysis above is based on the origin of the sale which is not materially different from the location of the customer.

Segment assets
2008
£m 		2007
£m
Americas 226.8 202.2
UK 143.0 217.5
Rest of Europe and Asia Pacific 65.7 58.3
435.5 478.0
Unallocated assets:
Cash and cash equivalents 37.6 32.2
Deferred tax assets 0.2 0.2
473.3 510.4

IFRS does not require the restatement of prior year assets or liabilities for discontinued operations.