Financial summary

Our total revenue in 2008 surpassed that of all our
competitors, regaining the No.1 worldwide position for
the third time.

  2008 2007 Change %
Billings1 £36,929m £31,666m +16.6
Revenue £7,477m £6,186m +20.9
Headline EBITDA2 £1,291m £1,072m +20.4
Headline operating profit2 £1,072m £887m +20.9
Reported operating profit £876m £805m +8.9
Headline PBIT2 £1,118m £928m +20.5
Headline PBIT margin 15.0% 15.0%
Headline PBT2 £968m £817m +18.5
Reported PBT £747m £719m +3.8
Headline diluted earnings per share2,4 55.5p 45.8p +21.2
Headline diluted earnings per ADR2,3,4 $5.14 $4.58 +12.2
Ordinary dividend per share 15.47p 13.45p +15.0
Ordinary dividend per ADR3 $1.43 $1.35 +5.9
Net debt at year-end £3,068m £1,286m +138.6
Average net debt5 £2,206m £1,458m +51.3
Ordinary share price at year-end 402.5p 647.0p (37.8)
ADR price at year-end $29.59 $64.29 (54.0)
Market capitalisation at year-end £5,053m £7,709m (34.5)
At 8 April 2009
Ordinary share price 419.0p    
ADR price $30.86    
Market capitalisation £5,260m    
The financial statements have been prepared under IFRS (International Financial Reporting Standards, incorporating International Accounting Standards).
Billings is defined in the Financial glossary.
The calculation of ‘headline’ measurements of performance (including headline EBITDA, headline operating profit, headline PBIT, headline PBT and headline earnings) is shown in note 31 of the financial statements.
One American Depositary Receipt represents five ordinary shares. These figures have been translated for convenience purposes only using the income statement exchange rates shown in the Consolidated income statement. This conversion should not be construed as a representation that the pound sterling amounts actually represent, or could be converted into, US dollars at the rates indicated.
Earnings per share is calculated in note 9 of the financial statements.
Average net debt is defined in the Financial glossary.