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Definitions and glossary of termsOur aim is to use plain English in this Annual Report andAccounts. However, where necessary, we do use a numberof technical terms and/or abbreviations and we summarisethe principal ones below, together with an explanationof their meanings. The descriptions below are not formallegal definitions.AAcquisition costThe amount of cash or cash equivalents paid or payable andthe fair value of other consideration given to acquire an assetat the time of its acquisition.Adjusted diluted earnings per shareProfit attributable to shareholders before adjusting itemsdivided by the weighted average number of shares in issue,on assumption of conversion of all potentially dilutive ordinaryshare options and awards with no option price.Adjusted operating profitOperating profit before adjusting items.Adjusting itemsAdjusting items are those amendments that the Group makesbecause it believes doing so provides useful information toshareholders to assist their understanding of the underlyingperformance achieved by the Group (for more informationsee page 89).Annual General Meeting (AGM)Meeting of shareholders of the Company held each year toconsider ordinary and special business as provided in theNotice of AGM.BBoardThe Board of directors of the Company (for more informationsee pages 58 and 59).CCarbon Disclosure ProjectThe Carbon Disclosure Project is an independent non-forprofitorganisation which holds a database of primarycorporate climate change data to which the Group hassubmitted information on data from its operations.Carrying valueThe amount at which an asset or a liability is recorded in thebalance sheet.Cash flow statementStatement showing movements of cash and cash equivalentsduring an accounting period, classified by three types ofactivity: operating activities, investing activities andfinancing activities.Central and Eastern EuropeThe principal countries included within Central and EasternEurope are Germany, Austria, Switzerland, Poland, the CzechRepublic, Hungary, Slovakia, Cyprus, Greece, Baltic and Balkanstates and former CIS countries.Combined CodeThe Combined Code on Corporate Governance, soon to bereplaced by the UK Corporate Governance Code, beingguidance on how companies should be governed, applicableto UK listed companies, including McBride plc.Company, McBride, the Group, we, our or usWe use terms ‘the Company’, ‘McBride’, ‘the Group’, ‘we’, ‘our’or ‘us’ to refer to either McBride plc itself or to McBride plcand its subsidiaries collectively, depending on context.Consolidated financial statementsFinancial statements that include the results and financialposition of the Group, i.e. the Company and its subsidiariestogether, as if they were a single entity.Constant currencyRestated comparative information using the same exchangerates as for the current financial year. Comparatives adjustedat constant currency enable comparison with current yearfigures without the effect of movements in exchange rates.Contingent considerationThe amount of cash or cash equivalents that may becomepayable in the future for the acquisition of an asset.Corporate social responsibility (CSR)The concept whereby companies integrate economic, socialand environmental concerns in their business operations andin their interaction with their stakeholders. McBride recognisesits obligations to all those with whom it has dealings.Customer service levelVolume of products delivered in the correct amounts andwithin agreed timescales relative to the total volumes orderedby the customers.EEarnings per shareProfit after tax attributable to shareholders divided by theweighted average number of ordinary shares in issue duringthe year.Energy efficiencyThe value of production in tonnes relative to the amountof energy used which is measured in Giga joules.Exceptional itemsItems which fall outside of and are incremental to the normalcourse of business which in management’s judgement, needto be disclosed by virtue of their size or incidence in order toobtain a proper understanding of the financial information.FFair valueThe amount for which an asset could be exchanged,or a liability settled, between knowledgeable and willingparties in an arm’s length transaction.Financial yearMcBride’s financial year is the year from 1 July to 30 June.FRSUK Financial Reporting Standards as issued by the UKAccounting Standards Board. These apply to the parentcompany’s financial statements which are prepared inaccordance with UK GAAP.FTSE4GoodAn index of leading companies which meet globally recognisedstandards of corporate responsibility. McBride has beena member of FTSE4Good since 2009.GGroup Management Team (GMT)The team of senior divisional managers responsible fordevelopment and implementation of the Group strategy,culture and commercial plan, for allocating resources andensuring transfer of knowledge and best practice. The GMTis chaired by the Chief Executive.Growth categoriesProduct categories chosen by McBride for particular focusbecause they offer the highest growth and profit potential.Currently within Household these are laundry liquids, machinedishwashing, specialist cleaners and non-aerosol Air careand in Personal Care these are Skincare, male grooming andoral care.GWGigawatt, being an amount of power equal to 1 billion watts(109 watts).GWhGigawatt hours, being an amount of energy equal to delivering1 billion watts of power for a period of one hour.HHSEHealth and Safety Executive, the main safety regulatorin the UK.Household productsProducts to clean or freshen households and laundry,including laundry powder and liquids, dishwashing products,household cleaners, toilet cleaners and Air care products.IIFRSThe International Financial Reporting Standards as issued bythe International Accounting Standards Board, and adoptedfor use in the European Union (EU) in accordance with EU lawand the Companies Act 2006. IFRS is also used as a term todescribe international generally accepted accountingprinciples as a whole. These apply to the Group’s financialstatements which are prepared in accordance with IFRSas adopted by the EU.LLost time accidentsAn accident arising out of McBride’s operations which leads toan injury where the employee or contractor normally has timeoff the following day or shift following the incident. It relatesto one specific (acute) identifiable incident which arises atMcBride’s premises, plant or activities, which was reportedat the time and was subject to appropriate investigation.Lost time frequencyThe number of lost time accidents per 100,000 hours workedin a 12 month period.NNet debtThe total of loans (both long and short term), overdrafts andfinance lease commitments less cash and cash equivalents.OOrganic revenue growthSales revenues adjusted to exclude any impact of acquisitions,disposals and currency exchange rate movements.PPersonal Care productsPersonal care and toiletry products including baby care, bathand shower products, hair care, body care, men’s grooming,oral care and Skincare.Private Label productsProducts which are manufactured exclusively to be sold underthe retailers’ trade mark, also known as store brands,distributor brands, own labels and own brands.Overview Business review Governance Financials Shareholder information128 McBride plc Annual Report and Accounts 2011 McBride plc Annual Report and Accounts 2011 129