Financial Statements

Notes to the Accounts > Segmental Reporting

 
Analysis by location of operation
Six months to 30th June 2009 Total Before Before
Inter-segment Gross operating adjustment adjustment
Revenue revenue revenue profit operating profit operating margin
  £'000 £'000 £'000 £'000 £'000 %
EMEA 113,235  13,846  127,081  10,187  15,640  12.3%
Americas 51,017  2,009  53,026  4,513  5,992  11.3%
AsiaPac 49,021  1,330  50,351  9,116  9,404  18.7%
Steam Specialties business 213,273  17,185  230,458  23,816  31,036  13.5%
Watson-Marlow Pumps business 38,284  48  38,332  8,320  8,869  23.1%
Corporate Expenses       (2,071) (2,071)  
251,557  17,233  268,790  30,065  37,834  14.1%
Intra-Group (17,233) (17,233)
Net Revenue 251,557  -  251,557  30,065  37,834  15.0%
Six months to 30th June 2008 Total Before Before
Inter-segment Gross operating adjustment adjustment
Revenue revenue revenue profit operating profit operating margin
  £'000 £'000 £'000 £'000 £'000 %
EMEA 110,736  17,937  128,673  20,120  20,223  15.7%
Americas 47,530  3,052  50,582  5,810  5,898  11.7%
AsiaPac 45,501  1,518  47,019  8,583  8,583  18.3%
Steam Specialties business 203,767  22,507  226,274  34,513  34,704  15.3%
Watson-Marlow Pumps business 34,940  16  34,956  8,408  8,854  25.3%
Corporate Expenses       (2,773) (2,773)  
238,707  22,523  261,230  40,148  40,785  15.6%
Intra-Group (22,523) (22,523)
Net Revenue 238,707  -  238,707  40,148  40,785  17.1%
Year ended 31st December 2008 Total Before Before
Inter-segment Gross operating adjustment adjustment
Revenue revenue revenue profit operating profit operating margin
  £'000 £'000 £'000 £'000 £'000 %
EMEA 226,091  34,547  260,638  38,880  39,180  15.0%
Americas 101,913  6,102  108,015  8,840  12,119  11.2%
AsiaPac 98,931  3,898  102,829  21,136  21,136  20.6%
Steam Specialties business 426,935  44,547  471,482  68,856  72,435  15.4%
Watson-Marlow Pumps business 75,381  67  75,448  17,347  18,409  24.4%
Corporate Expenses       (5,175) (5,175)  
502,316  44,614  546,930  81,028  85,669  15.7%
Intra-Group (44,614) (44,614)
Net Revenue 502,316  -  502,316  81,028  85,669  17.1%
Year ended 31st December 2007 Total Before Before
Inter-segment Gross operating adjustment adjustment
Revenue revenue revenue profit operating profit operating margin
  £'000 £'000 £'000 £'000 £'000 %
EMEA 191,130  32,257  223,387  31,586  31,781  14.2%
Americas 84,573  4,512  89,085  9,806  9,995  11.2%
AsiaPac 85,908  2,221  88,129  18,426  18,426  20.9%
Steam Specialties business 361,611  38,990  400,601  59,818  60,202  15.0%
Watson-Marlow Pumps business 55,706  54  55,760  12,856  12,856  23.1%
Corporate Expenses       (4,338) (4,338)  
417,317  39,044  456,361  68,336  68,720  15.1%
Intra-Group (39,044) (39,044)
Net Revenue 417,317  -  417,317  68,336  68,720  16.5%
The total operating profit for each period is after charging the expenses analysed below:
30th June 2009 30th June
2008		 31st December 2008
  £'000 £'000 £000
Headcount reduction costs 6,980  -  - 
Amortisation of acquisition-related intangible assets 789  637  1,541 
Impairment of goodwill & intangible assets -  -  3,100 
  7,769  637  4,641 
Net assets
30th June 2009 30th June 2008 31st December 2008
Assets Liabilities Assets Liabilities Assets Liabilities
  £'000 £'000 £'000 £'000 £'000 £'000
EMEA 193,973  (114,588) 178,134  (86,214) 216,124  (111,832)
Americas 61,197  (20,304) 58,727  (14,463) 81,420  (27,722)
AsiaPac 70,070  (7,429) 60,343  (7,920) 81,437  (11,694)
Watson-Marlow Pumps business 62,712  (12,157) 54,923  (9,349) 46,892  (4,661)
387,952  (154,478) 352,127  (117,946) 425,873  (155,909)
Liabilities (154,478) (117,946) (155,909)
Deferred Tax 25,503  10,821  19,466 
Current Tax payable  (4,932) (9,783) (10,814)
Net Cash 4,101  12,225  17,390 
Net assets 258,146    247,444    296,006   
Capital additions and depreciation 30th June 2009 30th June 2008 31st December 2008
and amortisation Capital Depreciation and Capital Depreciation and Capital Depreciation and
Additions amortisation Additions amortisation Additions amortisation
  £'000 £'000 £'000 £'000 £'000 £'000
EMEA 6,148  4,804  5,151  4,264  15,285  8,772 
Americas 1,399  1,644  1,436  1,285  4,216  5,689 
AsiaPac 3,771  1,135  1,708  908  8,928  1,846 
Watson-Marlow Pumps business 3,257  1,816  10,032  1,741  15,540  3,552 
  14,575  9,399  18,327  8,198  43,969  19,859 
Capital additions include property, plant and equipment and other intangible assets. Depreciation and amortisation includes amortisation of acquisition-related
intangible assets at 30th June 2009 of £789,000, 30th June 2008 of £637,000 and 31st December 2008 of £1,541,000. Also included at 31st December 2008
is £3,100,000 of impairment of goodwill and intangible assets.