1) Debt Service Coverage Ratio = Profit Before Interest & Tax / Fix Interest Charges

The standard ratio is 5 or 6 : 1

Also known as Interest Service Coverage Ratio or Fixed Charges Coverage Ratio.

2) Dividend Cover Ratio = ( Net Profit – Preference Share Dividend ) / Equity Share Dividend Declared
No dividend declared during the year

3) Sales To Net Worth Ratio = Net Sales / Proprietor’s Funds

4) Debtors Turnover Ratio = Net Credit Sales / ( Average Debtors + Average Bills Receivable )

5) Average Collection Period = 365 / Debtors Turnover Ratio

6) Creditors Turnover Ratio = Net Credit Purchases / ( Average Creditors + Average Bills Payable )

7) Average Payment Period = 365 / Creditors Turnover Ratio

8) Working Capital Turnover Ratio = Net Sales / Working Capital

9) Fixed Assets Turnover Ratio = Net Sales / Net Fixed Assets The standard ratio is 5 : 1

10) Current Assets Turnover Ratio = Net Sales / Current Assets

11) Assets Turnover Ratio = Net Sales / Total Assets The standard ratio is 2 : 1

12) Return On Share Holder’s Investment = Net Profit After Tax * 100
Total Share Holder’s Funds

13) Return On Equity = Net Profit After Tax – Preference Share’s Dividend * 100
Equity Share Holder’s Funds

14) Return On Capital Employed = Profit Before Interest And Tax *100
Capital Employed
Capital Employed = Proprietor’s Funds + Loan Funds

15) Return On Total Resources = Net Profit After Interest And Tax *100
Total Assets – (Provision For Depreciation + Fictitious Assets)

16) Dividend Yield Ratio = ( Dividend Per Share / Market Price Per Share ) *100

17) Preference Dividend Cover Ratio = Net Profit After Interest And Tax *100
Preference Share’s Dividend

18) Equity Dividend Cover Ratio = Net Profit After Tax – Preference Share’s Dividend * 100
Equity Share Dividend Declared Per Share
19) Earning Per Share = Net Profit After Tax – Preference Share’s Dividend
Equity Share Units

20) Dividend Payout Ratio = ( Dividend Declared Per Share / Earning Per Share ) *100

21) Price Earning Ratio = Market Price Per Share / Earning Per Share

22 return on equity
23 operating profit margin pbit/sales
24 Pat / networtrh

Consolidated income statement for the year ended 31 December 2008

2008 2008 2008

Non-
Underlying1 Underlying2 Total
Notes £m £m £m

Continuing operations

2 Revenue 5,384 - 5,384

3 Trading costs (4,746) (57) (4,803)

4 (194)
Restructuring costs - (194)
5 Non-trading items - 1 1
Profit from operations 638 (250) 388

Share of result in
17 associates 10 - 10
Profit before financing
and taxation
648 (250) 398
9 52
Investment revenue 52 -
10 Finance costs (141) 91 (50)
Profit before taxation 559 (159) 400

11 Taxation (156) 126 (30)

Profit for the period 403 (33)
from continuing
operations
370

31 Discontinued operations3
(Loss)/profit for the period 84 (88)
from discontinued
operations
(4)
 Profit for the period 487 (121) 366

Attributable to:
Equity holders of the 485 (121) 364
parent
Minority interests 2 - 2
487 (121) 366
Earnings per share from
continuing and
discontinued operations

13 Basic 30.1 p 22.6 p

13 Diluted 30.0 p 22.6 p
From continuing
Operations
13 Basic 24.9 p 22.8 p
13 Diluted 24.8 p 22.8 p

1
Before items described in Note 2 below.
2
Includes restructuring costs, non-trading items, amortisation and impairment of acquisition intangibles, IAS 39 adjustment and any assoc
financial statements.
3
In accordance with IFRS 5, the 2007 income statement, statement of recognised income and expense and related notes have been re-pre
Beverages and Australia Beverages as discontinued operations (see Note 31).

Average number of shares

Basic 1,611
Diluted 1,614

Balance Sheets at 31 December 2008

2008 2007

Notes £m £m

Assets
Non-current assets

14 Goodwill 2,288 2,805

Acquisition intangibles
15 1,598 3,378
15 Software intangibles 87 149

Property, plant and

16 equipment 1,761 1,904
Investment in associates
17 28 32
24 Deferred tax assets 181 124

Retirement benefit assets

25 17 223
Trade and other
20 receivables 28 50
18 Other investments 2 2
5,990 8,667
Current assets
19 Inventories 767 821
Short-term investments
247 2
Trade and other
20 receivables 1,067 1,197
Tax recoverable 35 41
Cash and cash equivalents
251 493
Derivative financial
instruments
27 268 46
2,635 2,600
21 Assets held for sale 270 71

Total assets 8,895 11,338

Liabilities
Current liabilities

Trade and other payables

22 (1,551) (1,701)
Tax payable (328) (197)
Short-term borrowings and
overdrafts
27 (1,189) (2,562)
Short-term provisions
23 (150) (111)
Obligations under finance
32 leases (1) (21)
Derivative financial
instruments
27 (169) (22)
(3,388) (4,614)
Non-current liabilities

Trade and other payables

22 (61) (37)
27 Borrowings (1,194) (1,120)
Retirement benefit
25 obligations (275) (143)
Tax payable (6) (16)
Deferred tax liabilities
24 (121) (1,145)
23 Long-term provisions (218) (61)

Obligations under finance

32 leases (1) (11)
(1,876) (2,533)
Liabilities directly
associated with assets
classified as held for sale
21 (97) (18)
Total liabilities (5,361) (7,165)
Net assets 3,534 4,173
Equity
28 Share capital 136 264
Share premium account
28 38 1,225
28 Other reserves 850 (4)
28 Retained earnings 2,498 2,677
Equity attributable to
equity holders of the
parent
28 3,522 4,162
29 Minority interests 12 11

Total equity 3,534 4,173

Consolidated cash flow statement for the year ended 31 December 2008

2008 2007

Notes £m £m

Net cash inflow from

operating activities
34 469 812

Investing activities
Dividends received from
associates
17 10 8
Proceeds on disposal of
property, plant and
equipment
18 57
Purchases of property,
plant and equipment and
software
(500) (409)
Americas Beverages
separation costs paid

(107) (30)
Americas Beverages net
cash and cash equivalents
demerged

(67) -
Acquisitions of businesses
and associates
30 16 (352)
Net cash assumed on
acquisitions - 6
Sale of investments,
associates and subsidiary
undertakings

48 27
Cash removed on disposal
(4) (1)
 Acquistions and disposals
60 (320)
Movement in equity
investments and money
market deposits

(245) 127
Net cash used in investing
activities (831) (567)

Net cash
(outflow)/inflow before
financing activities (362) 245

Financing activities
Dividends paid (295) (311)
Dividends paid to minority
interests - (1)
Capital element of finance
leases repaid
(21) (21)
Proceeds on issues of
ordinary shares
58 56
Net movement of shares
held under Employee Trust
12 (13)
Proceeds of new
borrowings 4,382 2,026
Borrowings repaid (4,167) (1,722)
Net cash (used
in)/generated from
financing activities
(31) 14
Net (decrease)/increase
in cash and cash
equivalents

(393) 259
Opening net cash and cash
equivalents – total Group

449 186
Effect of foreign exchange
rates 43 4
Closing net cash and
cash equivalents
99 449
Net cash and cash equivalents includes overdraft balances of £152 million
(2007: £44 million). There are no cash and cash equivalents included in
assets held for sale.
 2008

398
50
7.96

vidend Declared
0

5,384
3,534
1.52

5,384
1,067
5.05

365
5.05
72.34

lls Payable )
(1,551)

365
0

5,384
6,023
0.89

5,384
5,734
0.94

5,384
2,635
 2.04

5,384
8,895
0.61
366
3,534
0.1

366
3,534
0.1

398
1,658
0.24

*100 366
6,607
0.06

366
0

0
 22.8

22.8

Re-presented Re-presented Re-presented

2007 2007 2007

Underlying1 Non-Underlying2 Total

£m £m £m

4,699 - 4,699

(4,226) (32) (4,258)

- (165) (165)

- 2 2
473 (195) 278

8 - 8

481 (195) 286

56 - 56

(107) 19 (88)

430 (176) 254

(121) 16 (105)

309 (160) 149

323 (65) 258

 632 (225) 407

630 (225) 405

2 - 2
632 (225) 407

30.2 p 19.4 p
29.9 p 19.2 p

14.7 p 7.0 p
14.6 p 7.0 p

S 39 adjustment and any associated tax effect as set out in Note 1(y) to the
related notes have been re-presented following the classification of Americas

2,087
2,108
 2007

286
88
3.25

4,699
4,173
1.13

4,699
1,197
3.93

365
3.93
92.98

(1,701)

365
0

4,699
7,214
0.65

4,699
8,236
0.57

4,699
2,600
 1.81

4,699
11,338
0.41
122
4,173
0.03

122
4,173
0.03

286
1,640
0.17

122
11,338
0.01

122
0

0
7.0

7.0