Annual Report and Accounts 2006 - DCC plc

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50 report of the independent auditorsmisstatement, whether caused byfraud or other irregularity or error.In forming our opinion we alsoevaluated the overall adequacy ofthe presentation of information inthe financial statements.OpinionIn our opinion:• the Group financial statementsgive a true and fair view, inaccordance with IFRS as adoptedby the European Union, of thestate of the Group’s affairs as at31 March 2006 and of its profitand cash flows for the year thenended;• the Parent Company financialstatements give a true and fairview, in accordance with IFRS asadopted by the European Union,as applied in accordance with theprovisions of the Companies Acts,1963 to 2005, of the state of theParent Company’s affairs as at 31March 2006 and cash flows forthe year then ended;• the financial statements havebeen properly prepared inaccordance with the CompaniesActs, 1963 to 2005 and Article 4of the IAS Regulation.We have obtained all the informationand explanations which we considernecessary for the purposes of ouraudit. In our opinion proper books ofaccount have been kept by theCompany. The Company BalanceSheet is in agreement with the booksof account.In our opinion the information given inthe Directors’ Report is consistentwith the financial statements.The net assets of the Company, asstated in the Company Balance Sheetare more than half of the amount ofits called-up share capital and, in ouropinion, on that basis there did notexist at 31 March 2006 a financialsituation which under Section 40(1)of the Companies (Amendment) Act,1983 would require the convening ofan extraordinary general meeting ofthe Company.PricewaterhouseCoopersChartered Accountants andRegistered AuditorsDublin12 May 2006
financial statements51group income statementfor the year ended 31 March 20062006 2005Pre Exceptionals Pre Exceptionalsexceptionals (note 11) Total exceptionals (note 11) TotalNote €’000 €’000 €’000 €’000 €’000 €’000Revenue 4 3,436,292 - 3,436,292 2,644,728 - 2,644,728Cost of sales (2,992,240) - (2,992,240) (2,258,200) - (2,258,200)Gross profit 444,052 - 444,052 386,528 - 386,528Operating costs 5 (320,457) 2,841 (317,616) (274,715) (15,967) (290,682)Operating profit beforeamortisation ofintangible assets 4 123,595 2,841 126,436 111,813 (15,967) 95,846Amortisation ofintangible assets 4 (4,956) - (4,956) (1,261) - (1,261)Operating profit 118,639 2,841 121,480 110,552 (15,967) 94,585Finance costs 12 (22,947) (1,145) (24,092) (23,284) (4,809) (28,093)Finance revenue 12 15,906 - 15,906 17,590 - 17,590Share of associates’profit after tax 14 25,474 - 25,474 16,807 - 16,807Profit before tax 137,072 1,696 138,768 121,665 (20,776) 100,889Income tax expense 15 (13,479) (12,107)Profit after tax for the financial year 125,289 88,782Profit attributable to:Equity holders of the Company 123,764 87,760Minority interest 1,525 1,022125,289 88,782Earnings per ordinary shareBasic 18 153.92c 109.68cDiluted 18 150.46c 107.16cAlex Spain, Jim Flavin, Directors
Page 1 and 2: Annual Reportand Accounts2006
Page 3 and 4: Group at a Glance 2Board of Directo
Page 5: 3Market positionGrowth focusGrowth
Page 8 and 9: 6board of directors
Page 10 and 11: 8senior managementgroup and divisio
Page 12 and 13: 10chairman’s statement“ Over th
Page 14 and 15: 12chief executive’s review“ The
Page 16: peopleWe recognise that our employe
Page 19 and 20: 17Performance for the year to 31 Ma
Page 27: 25Performance for the year to 31 Ma
Page 30 and 31: 28financial reviewOverview of resul
Page 32 and 33: 30financial reviewgenerated from op
Page 34: 32financial reviewsubsidiary manage
Page 38: qualityDCC Food & Beveragemarkets q
Page 41 and 42: corporate governance39written terms
Page 43 and 44: corporate governance41achieve busin
Page 46 and 47: 44report of the remuneration commit
Page 48 and 49: 46 report of the remuneration commi
Page 50 and 51: 48statement of directors’responsi
Page 54 and 55: 52financial statementsgroup stateme
Page 56 and 57: 54 financial statementsgroup cash f
Page 58 and 59: 56financial statementscompany state
Page 60 and 61: 58notes to the financial statements
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DCC plcDCC House, Brewery Road,Stil
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Annual Report and Accounts 2006 - DCC plc

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