• About Us
• Investors
• Media
• Careers
• Social Responsibility
• Find a Pub

Income statement information	2009 52 weeks £m	2008 52 weeks £m	2007 52 weeks £m	2006 52 weeks £m	2005 52 weeks £m
aAdjusted earnings per share for the years 2005-2008 has been restated to exclude net pensions finance (charge)/income in line with the change in disclosure of this item adopted in 2009 (see note 1 ‘Adjusted profit’)
bDividend information for all years represents interim and final dividends for the year presented.
Revenue
Pubs & Bars	958	954	968	958	939
Restaurants	999	939	908	762	684
Retail	1,957	1,893	1,876	1,720	1,623
SCPD	1	15	18	–	8
	1,958	1,908	1,894	1,720	1,631
Operating profit before exceptional items
Pubs & Bars	159	176	191	179	175
Restaurants	141	156	145	130	113
Retail	300	332	336	309	288
SCPD	-	11	7	–	1
	300	343	343	309	289
Operating exceptional items	(87)	(212)	(34)	16	(3)
Total operating profit	213	131	309	325	286
Interest on net debt	(166)	(167)	(147)	(109)	(103)
Exceptional interest charge	(51)	(205)	(221)	(4)	–
Net finance income on pensions	(6)	3	11	8	3
(Loss)/profit before taxation	(10)	(238)	(48)	220	186
Taxation credit/(charge)	14	62	38	(25)	(59)
Profit/(loss) for the financial year	4	(176)	(10)	195	127
Earnings/(loss) per share
Basic	1.0p	(43.7)p	(2.5)p	39.7p	24.9p
Diluted	1.0p	(43.7)p	(2.5)p	38.8p	24.5p
Adjusteda	23.6p	31.0p	33.6p	28.1p	25.0p
Dividends paid and proposedb
Normal dividends (£m)	–	18	57	53	54
Special dividends (£m)	–	–	486	–	–
Normal dividends per share	–	4.55p	14.25p	12.25p	10.75p

Adjusted earnings per share is stated after removing the impact of exceptional items and other adjustments as explained in note 1, less tax thereon.

Results for 2005 are presented on a 52 week basis to aid comparability with previous years. The 53 week 2005 results under both IFRS and UK GAAP are available in full from the Company’s website, www.mbplc.com. The 2005 results on a 52 week basis are unaudited.

The adjustments required to make UK GAAP historic information consistent with that presented under IFRS relate to share-based payment charges and the different calculation basis of deferred tax under IFRS.

Balance sheet information	2009 £m	2008 £m	2007 £m	2006 restateda £m	2005 restateda £m
aRestated in respect of a prior year adjustment (see page 55 Annual report and accounts 2007)
Goodwill and other intangible assets	1	3	17	22	26
Property, plant and equipment	4,461	4,545	5,030	3,867	3,447
Lease premiums	10	10	11	13	16
Total non-current assets	4,472	4,558	5,058	3,902	3,489
Inventories	38	39	38	42	39
Operating receivables	39	79	68	80	77
Non-current assets held for sale	19	114	6	88	9
Operating payables	(270)	(276)	(240)	(243)	(220)
Net current operating liabilities	(174)	(44)	(128)	(33)	(95)
Total operating assets less current operating liabilities	4,298	4,514	4,930	3,869	3,394
Provisions	–	(1)	(1)	(3)	(4)
Net operating assets	4,298	4,513	4,929	3,866	3,390
External net debt	(2,600)	(2,735)	(2,479)	(2,067)	(1,625)
Derivative financial instruments	(116)	(58)	(188)	(36)	(35)
Corporate taxation	(1)	3	(18)	(22)	(60)
Deferred taxation	(455)	(526)	(648)	(426)	(435)
Pension liabilities	(130)	(23)	(18)	(99)	(151)
Balances relating to exceptional items	–	–	–	(3)	–
Non-operating receivables/(payables)	1	1	(2)	(4)	–
Net assets	997	1,175	1,576	1,209	1,084

Cash flow information	2009 £m	2008 £m	2007 £m	2006 £m	2005 £m
aBefore exceptional items.
Operating profit before exceptional items	300	343	343	309	295
Depreciation and amortisation	128	134	129	121	116
EBITDA a	428	477	472	430	411
Other non-cash items	(2)	2	11	11	7
Working capital movement	24	31	8	9	16
Additional pension contributions	(24)	(24)	(40)	(20)	(30)
Net cash inflow from operationsa	426	486	451	430	404
Net capital expenditure	(57)	(111)	(99)	(583)	(110)
Operating cash flow after capital expenditurea	369	375	352	(153)	294
Net interest paid	(160)	(164)	(145)	(107)	(102)
Tax received/(paid)	21	(4)	(33)	(48)	(43)
Exceptional interest on tax credits	4	–	–	–	–
Normal dividends paid	–	(58)	(52)	(56)	(50)
Special dividends paid	–	–	(486)	–	–
Issue of ordinary shares	4	–	–	–	2
Purchase of own shares	–	(5)	(46)	(76)	(101)
Proceeds on release of own shares held	–	3	11	12	14
Operating exceptional expenditure	–	–	–	–	(4)
Expenditure associated with refinancing	(2)	(11)	(4)	(10)	–
Derivative financial instruments closure costs	(95)	(386)	–	–	–
Defence costs	–	–	–	(4)	–
Corporate restructuring costs	–	(3)	(4)	–	–
Integration costs paid	–	–	(4)	–	–
Strategic review costs (note 8)	–	(12)	–	–	–
Net cash flow	141	(265)	(411)	(442)	10

All years are for 52 week periods with the exception of 2005 which is a 53 week period.