Annual Report & Accounts 2012 - Euromoney Institutional Investor ...

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Euromoney Institutional Investor PLC Annual Report and Accounts 2012 www.euromoneyplc.com Notes to the Company Accounts continued 15 Related party transactions continued During the year the group paid interest to DMGH and related companies in respect of interest rate swaps as follows: 2012 US$000 2012 £000 2011 US$000 2011 £000 US$ interest paid 2,353 1,488 4,475 2,784 GBP interest paid – 504 – 974 (iii) In February 2011, the company provided US$70 million short-term loan facility to DMGH, a fellow group company. The loan was repaid on February 17 2011. There were no amounts outstanding as at September 30 2012: 2012 US$000 2012 £000 2011 US$000 2011 £000 Amounts paid – – (70,000) (43,750) Amounts received – – 70,041 43,776 Interest income – – 41 26 (iv) During the year the company received a dividend of £291,000 (2011: £656,000) from Capital Net Limited, an associate of the company. 16 Post balance sheet event The directors propose a final dividend of 14.75p per share (2011: 12.50p) totalling £18,342,000 (2011: £15,156,000) for the year ended September 30 2012 subject to approval at the Annual General Meeting to be held on January 31 2013. In accordance with FRS 21 ‘Post Balance Sheet Events’, these financial statements do not reflect this dividend payable but will be accounted for in shareholders’ equity as an appropriation of retained earnings in the year ending September 30 2013. During 2012, a final dividend of 12.50p (2011: 11.75p) per share totalling £15,162,000 (2011: £13,928,000) was paid in respect of the dividend declared for the year ended September 30 2011. 17 Ultimate parent undertaking and controlling party The directors regard the ultimate parent undertaking as Rothermere Continuation Limited, which is incorporated in Bermuda. The ultimate controlling party is The Viscount Rothermere. The largest and smallest group of which the company is a member and for which group accounts are drawn up is that of Daily Mail and General Trust plc, incorporated in Great Britain and registered in England and Wales. Copies of its report and accounts are available from: The Company Secretary Daily Mail and General Trust plc Northcliffe House, 2 Derry Street London W8 5TT www.dmgt.co.uk 132
Euromoney Institutional Investor PLC Annual Report and Accounts 2012 www.euromoneyplc.com Five Year Record Consolidated Income Statement Extracts Total revenue 332,064 317,594 330,006 363,142 394,144 Operating profit before acquired intangible amortisation, long-term incentive expense and exceptional items 81,308 79,447 100,057 108,967 118,175 Acquired intangible amortisation (12,749) (15,891) (13,671) (12,221) (14,782) Long-term incentive expense (5,361) (2,697) (4,364) (9,491) (6,301) Additional accelerated long-term incentive expense – – – (6,603) – Exceptional items (2,477) (33,901) (228) (3,295) (1,617) Operating profit before associates 60,721 26,958 81,794 77,357 95,475 Share of results in associates 308 219 281 408 459 Operating profit 61,029 27,177 82,075 77,765 95,934 Net finance costs (23,603) (44,538) (10,651) (9,568) (3,566) Profit/(loss) before tax 37,426 (17,361) 71,424 68,197 92,368 Tax credit/(expense) on profit/(loss) 7,279 10,412 (12,839) (22,527) (22,528) Profit/(loss) after tax from continuing operations 44,705 (6,949) 58,585 45,670 69,840 Profit from discontinued operations 245 1,207 – – – Profit/(loss) for the year 44,950 (5,742) 58,585 45,670 69,840 Attributable to: Equity holders of the parent 43,719 (6,287) 58,105 45,591 69,672 Equity non-controlling interests 1,231 545 480 79 168 Profit/(loss) for the year 44,950 (5,742) 58,585 45,670 69,840 Basic earnings/(loss) per share 41.69p (6.83)p 50.04p 38.02p 56.74p Diluted earnings/(loss) per share 40.37p (6.67)p 49.47p 37.34p 55.17p Adjusted diluted earnings per share 44.36p 40.39p 53.50p 56.05p 65.91p Diluted weighted average number of ordinary shares 107,687,024 112,372,620 117,451,228 122,112,168 126,290,412 Dividend per share 19.25p 14.00p 18.00p 18.75p 21.75p Consolidated Statement of Financial Position extracts Intangible assets 407,578 425,648 422,707 490,042 469,308 Non-current assets 41,318 39,002 40,921 33,824 26,357 Accruals (50,016) (46,972) (45,473) (56,249) (54,170) Deferred income liability (89,488) (82,599) (93,740) (105,507) (105,106) Other net current assets/(liabilities) (171,290) (16,642) 21,962 (12,304) 32,151 Non-current liabilities (50,038) (213,446) (176,894) (124,231) (80,616) Net assets 88,064 104,991 169,483 225,575 287,924 2008 £000 2009 £000 2010 £000 2011 £000 2012 £000 Company Accounts Group Accounts Our Governance Our Performance 133
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