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This excerpt taken from the ICI 6-K filed Mar 14, 2006. Summary financial statement
ICI made satisfactory progress in 2005 in mixed trading conditions. Group sales were 6% ahead of 2004 on a comparable basis, reflecting modest volume growth and increased selling prices in response to significantly higher raw material and energy costs. There was strong growth of comparable sales for the International Businesses in both Asia (11%) and Latin America (15%). Comparable sales in North America were up 3% and, in more difficult economic conditions, comparable sales in Europe were 1% ahead. Selling price increases through the year fully recovered the monetary impact of increased raw material and energy costs. With good control of costs below gross margin and benefits from restructuring programmes, Group trading profit for the year was 5% ahead of 2004 on a comparable basis. All businesses with the exception of Regional and Industrial delivered growth in trading profit. Group adjusted profit before tax and special items was £444m, 5% ahead of 2004, and adjusted earnings per share of 27.1p were also 5% higher. Net profit before special items attributable to the equity holders of ICI was £321m, £15m ahead of 2004. Net profit after special items was £420m compared with £508m last year. With improved profit and substantially lower working capital, cash flow before acquisitions and divestments of £170m was £88m higher than last year and net debt fell by £244m to £745m. Interest cover improved to 7.2 times from 6.0 times last year.
This excerpt taken from the ICI 6-K filed Mar 16, 2005. Summary financial statement
Market conditions were generally favourable in 2004 and sales for the International Businesses were 6% ahead of 2003 on a comparable basis. Comparable sales growth was achieved in all regions and was particularly strong in Asia and Latin America. Comparable trading profit for the International Businesses was well ahead, with higher sales and the benefits from restructuring programmes more than offsetting the impact of increasing raw material costs. The Regional and Industrial businesses reported a trading loss similar to last year. Group profit before tax was £397m, 16% ahead of 2003, and earnings per share were 18% ahead at 21.9p, both measured before exceptional items and goodwill amortisation. Net profit after exceptional items and goodwill amortisation was £210m, compared with £20m in 2003. With stronger profit performance and further improvements in capital effectiveness, cash flow improved from 2003 and net debt fell by £406m over the course of the year, to £920m. Interest cover also improved, to 5.6 times from 4.7 times last year.
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