Trinity Mirror plc
2005 Preliminary Results
for 52 weeks ended 1st January 2006
2 March 2006
stock exchange
Trinity Mirror plc announces the Group's Preliminary Results for the 52 weeks ended 1 January 2006.
Financial Highlights
|
Like-for-like* |
Statutory |
| |
|
2005 |
2004 |
% |
2005 |
2004 |
% |
|
52 weeks
£m |
52 weeks
£m |
Change |
52 weeks
£m |
53 weeks
£m |
Change |
| |
|
|
|
|
|
|
| Revenue |
1,112.8 |
1,127.5 |
(1.3)% |
1,122.0 |
1,141.7 |
(1.7)% |
| Operating profit |
250.2 |
246.1 |
1.7% |
245.4 |
242.8 |
1.1% |
| Profit before tax |
220.9 |
208.5 |
5.9% |
209.5 |
207.1 |
1.2% |
| |
|
|
|
|
|
|
| Earnings per share |
52.6p |
49.3p |
6.7% |
50.3p |
49.2p |
2.2% |
| Dividends per share |
|
|
|
21.9p |
20.2p |
8.4% |
| |
|
|
|
|
|
|
| Net Debt |
|
|
|
492.5 |
454.9(1) |
|
Operational highlights
- 'Stabilise Revitalise Grow' continues to deliver positive results
- Improved performance despite challenging advertising revenue environment. Operating profit* and profit before tax* up 1.7% and 5.9% respectively
- Incremental cost savings of £12 million. Exceeded annualised net cost savings target of £35 million by £5 million. Further targeted net savings of £15 million in 2006
- Continued improvement in Group margin* from 21.8% to 22.5%, and margin growth for both Regionals and Nationals division despite advertising revenue declines
- Completed four on-line acquisitions which complement and extend our core recruitment and property advertising presence
- £52.7 million returned to shareholders through share buy-back programme
- Strong cash flows resulting in net debt increasing by only £37.6 million despite share buy-back and £87.2 million acquisitions expenditure
- Annual dividend (interim paid and final proposed) increased by 8.4% to 21.9 pence per share
(1)After adoption of IAS 39 on 3 January 2005
*Before acquisitions, non-recurring items, IAS 39 and for 2004 excludes the additional week's trading.
See reconciliation between statutory and like-for-like results in note 20 on page 35
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