From fiscal onwards our fiscal year is a period of or days. Management assesses the financial performance of our business using non-GAAP measures of turnover excluding duty and operating profit before amortization of goodwill and intangibles and before exceptional items. Management believes that these measures provide a better comparison of underlying business performance than the related GAAP measures. The non-GAAP measure of turnover excluding duty removes the distortion in the trends of our turnover and operating margins that are caused by the different excise regimes that exist within the markets in which we operate.
These measures are derived from our consolidated statements of income. Per share amounts presented in this annual report for periods prior to April 8, have been adjusted to reflect the bonus element of the two-for-five discounted rights issue that occurred in fiscal Our consolidated financial statements are expressed in pounds sterling and prepared in accordance with U. GAAP, which differs from U. GAAP in certain respects. Please see note 29 of the notes to our consolidated financial statements, included in this annual report, for a discussion of the principal differences between U.
GAAP and U. GAAP relevant to our consolidated financial statements. Solely for your convenience, this annual report contains translations of certain pounds sterling amounts into U. Translations contained in this annual report do not constitute representations that the stated pounds sterling amounts actually represent such U. Fluctuations in the exchange rate between pounds sterling and U. Such fluctuations could also affect the U. World data and individual market data referred to herein with respect to us and our competitors are management estimates derived, where available, from a variety of sources, including internal sales data, factory sales information provided by tobacco manufacturers and importers, customs data, trade journals, publications and governmental statistics, as well as independently compiled market research statistics derived from Point of Sale surveys and trade questionnaires.
Unless otherwise indicated, market volume and share data referred to herein with respect to us and our competitors refers to unit sales in the relevant fiscal year. All market shares and comparisons of market shares are stated on a moving annual total basis, unless stated otherwise. Solely for your convenience, we have provided our website address and those of certain third parties in this annual report.
We do not take responsibility for the information contained in any third-party websites and no information in our website or any third-party websites should be deemed to be incorporated in, or form a part of, this annual report. PART I. This item is not applicable. Item 2: Offer Statistics and Expected Timetable. A Selected Financial Data.
The selected consolidated financial information set forth below for Imperial Tobacco Group PLC as at September 30, and September 30, and for each of the three fiscal years in the period ended September 30, are derived from the audited consolidated financial statements included in this annual report. Such audited consolidated financial statements for Imperial Tobacco Group PLC as at September 30, and September 30, and for each of the three fiscal years in the period ended September 30, have been audited by PricewaterhouseCoopers LLP, as indicated in their report included in this annual report.
The selected consolidated financial information set forth below for Imperial Tobacco Group PLC as at September 29, , September 28, and September 30, and for each of the two fiscal years in the period ended September 28, is derived from financial statements not included in this annual report. Balance sheet data is as at September 29, , September 28, , September 30, , September 30, and September 30, Our consolidated financial statements have been prepared in accordance with U.
GAAP, which differs in certain respects from U. For a description of the principal differences between U. GAAP relevant to our consolidated financial statements, a reconciliation to U. GAAP of net income for each of the three fiscal years in the period ended September 30, , and a reconciliation to U. Commencing in fiscal , we will prepare our consolidated financial statements in accordance with IFRS instead of U. Pounds sterling amounts in fiscal have been translated into U. Fiscal year. Amounts in accordance with U.
Turnover 1. Duty in turnover. Turnover excluding duty 2. Operating profit before amortization and exceptional items 3. Exceptional items. Operating profit.
Marek Szczepański
Profit on disposal of fixed assets. Profit on ordinary activities before interest and taxation. Profit on ordinary activities before tax. Profit on ordinary activities after tax. Equity minority interests.
Profit attributable to shareholders. Basic earnings per ordinary share 4 6. Diluted earnings per ordinary share 5 6. Shares used in calculation of basic earnings per share. Shares used in calculation of diluted earnings per share. Net income. Basic net income per ordinary share 4 6. Basic net income per ADS.
Diluted net income per ordinary share 5 6.
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Diluted net income per ADS. Total assets. Creditors: amounts falling due after more than one year. Capital employed.
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By location based on origin. Rest of Western Europe. Rest of the World. Capital employed is reconciled to the consolidated balance sheets as follows:. Intangible fixed assets. Net debt. Dividend payable. Sales of goods are recognized when risks and rewards of ownership pass to the customer and when collectibility of the related receivables is reasonably assured. Sales of services, which include fees for distributing third party products, are recognized in the accounting period in which the services are rendered.
License fees are recognized on an accruals basis in accordance with the substance of the relevant agreements. All income relates to continuing operations. Figures from fiscal include the full year results of Reemtsma. Figures for include the results of Reemtsma for the four and a half months from acquisition. Management believes that this measure provides a better comparison of underlying business performance, as it removes the distortion in the trends of our turnover and operating margins that are caused by the different excise regimes that exist within the markets in which we operate.
This measure is derived from our consolidated statements of income. Management believes that this measure provides a better comparison of underlying business performance. The difference between the consideration paid and net assets was offset against equity. The following tables set forth the amounts of interim, final and total cash dividends we paid in respect of our ordinary shares for each of the last five fiscal years, indicated in pence per ordinary share, U.
Dividends per share. Translated into. Pence per ordinary share. Fiscal Year. The table above presents dividends per share reflecting the bonus element of the two-for-five discounted rights issue approved on April 8, The actual dividends per share previously quoted prior to the rights issue are shown below:.
Dividends per share previously quoted prior to rights issue. The actual rate at which cash dividends are converted to U. For information concerning the taxation of dividends, see Item 10E: Taxation. Exchange Rates.
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The following table sets forth, for the periods indicated, information in U. Period End. The high and low pounds sterling noon buying rates in U. August September October November December January February through February 10, Pounds sterling are convertible into U. Fluctuations in such rates in the past are not necessarily indicative of fluctuations that may occur in the future. Translations contained in this annual report do not constitute representations that the stated pounds sterling amounts actually represent stated U. B Capitalization and Indebtedness.
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This section is not applicable. C Reasons for the Offer and Use of Proceeds. Set out below is a non-exhaustive list of risk factors of which investors in our company should be aware. In addition, we are subject to the same risk factors as any other business, for example the political stability in countries in which we operate and source our raw materials, the impact of natural disasters and changes in general economic conditions. In , the most recent year for which worldwide information is available, an estimated 5.
University Library of Munich, Germany
Notwithstanding this general stability in the worldwide demand for cigarettes, there have been declines within certain markets in recent years. In the United Kingdom, total U. The total U. The underlying historic adverse trend has been encouraged particularly by consistent and substantial increases in excise duty on tobacco products, and by increasing governmental regulation and heightened public awareness of smoking-related health concerns. We believe that the U. In Germany, the largest market in Europe by volume, total duty-paid sales of approximately billion cigarettes were recorded in fiscal billion.
Between fiscal years and , market volume for cigarettes has fallen by an average of approximately 3. Between and , market volume grew at a compound rate of 0. These duty increases augmented cigarette prices by one euro cent per cigarette in and January , with further increases of 1. The advertising, sale and consumption of tobacco products in Europe and elsewhere have also been subject to regulatory influence from governments, health officials and anti-smoking groups, principally due to claims that.
This has resulted in substantial restrictions on the manufacture, development, sale, distribution, marketing, advertising, product design and consumption of tobacco products, introduced by regulation and voluntary agreements.