2001
£million
2000
£million
1999
£million
1998
£million
1997
Restated
£million
Turnover
Chromium
118.9
124.8
112.8
124.4
126.8
Pigments & Specialties
228.0
234.9
222.9
213.9
148.8
Specialty Rubber
46.0
54.1
54.9
56.7
61.5
Continuing operations
392.9
413.8
390.6
395.0
337.1
Discontinued operations
137.5
160.0
144.5
647.6
1,582.1
Turnover:Group and share of joint venture
530.4
573.8
535.1
1,042.6
1,919.2
Less share of discontinued joint venture’s turnover
-
-
-
(68.2)
(93.9)
Group turnover
530.4
573.8
535.1
974.4
1,825.3
Operating profit/(loss)
Chromium:
Before exceptionals
4.0
23.7
20.3
27.1
29.9
Exceptionals
-
0.7
(8.8)
-
-
4.0
24.4
11.5
27.1
29.9
Pigments & Specialties:
Before goodwill amortisation and exceptionals
12.2
31.1
28.5
27.1
8.8
Goodwill amortisation
(14.0)
(13.3)
(12.5)
(11.2)
-
Exceptionals
-
(1.4)
(5.3)
(3.2)
(14.9)
(1.8)
16.4
10.7
12.7
(6.1)
Specialty Rubber:
Before exceptionals
(0.5)
2.6
2.4
4.7
4.8
Exceptionals
(0.5)
(2.3)
(1.2)
-
(0.8)
(1.0)
0.3
1.2
4.7
4.0
Group exceptionals
(4.6)
-
-
-
-
Total – continuing operations:
Before goodwill amortisation and exceptionals
15.7
57.4
51.2
58.9
43.5
Goodwill amortisation
(14.0)
(13.3)
(12.5)
(11.2)
-
Exceptionals
(5.1)
(3.0)
(15.3)
(3.2)
(15.7)
(3.4)
41.1
23.4
44.5
27.8
Discontinued operations
2.4
6.0
5.5
(4.4)
0.8
(1.0)
47.1
28.9
40.1
28.6
Joint venture – discontinued operations
-
-
-
2.1
4.7
Associated undertakings – continuing operations
0.1
0.1
0.1
-
-
Associated undertakings – discontinued operations
-
-
-
(0.1)
(0.2)
(0.9)
47.2
29.0
42.1
33.1
Profit/(loss) on disposal/termination of businesses & fixed assets:
Continuing operations
-
-
6.6
5.0
-
Discontinued operations
1.4
-
-
(26.9)
(121.8)
Fundamental restructuring costs (discontinued operations)
-
-
-
-
(4.8)
Profit/(loss) before interest
0.5
47.2
35.6
20.2
(93.5)
Interest rate swap cancellation costs
-
-
-
(2.3)
-
Private placement redemption cost
-
-
-
-
(9.8)
Net interest payable
(4.2)
(5.1)
(5.4)
(8.3)
(2.9)
Profit/(loss) before tax
(3.7)
42.1
30.2
9.6
(106.2)
Tax
8.5
(7.8)
(10.5)
(8.4)
(4.9)
Minority interests
(0.1)
(0.1)
0.3
-
(0.1)
Profit/(loss) for the financial year
4.7
34.2
20.0
1.2
(111.2)
Basic
Earnings/(loss) per ordinary share (pence)
1.1
7.9
4.6
0.3
(15.5)
Earnings per ordinary share before goodwill amortisation and exceptionals (pence)
4.0
11.6
9.3
9.0
8.8
Fully diluted
Earnings/(loss) per ordinary share (pence)
1.1
7.9
4.6
0.3
(15.5)
Earnings per ordinary share before goodwill amortisation and exceptionals (pence)
4.0
11.5
9.3
9.0
8.8
Dividends per ordinary share (pence)
-
-
2.0
5.0
3.6
Dividend cover (times)*
-
-
4.7
1.8
2.4
Interest cover (times)*
4.3
12.5
10.5
7.0
28.3
Shareholders’ funds
397.5
411.2
380.4
367.8
764.2
Net (borrowings)/cash
(40.0)
(41.7)
(45.5)
(48.0)
450.6
Weighted average number of ordinary shares in issue during the year (million)
431.5
431.5
431.5
472.9
715.3
* before goodwill amortisation and exceptionals
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