EX-7.1 4 d354337dex71.htm EXHIBIT 7.1 Exhibit 7.1

Exhibit 7.1

Financial ratios

 

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Year ended 31 March    2012      2011      2010      2009      2008  

Return on capital employeda

               

Adjustedb–%

      20.6         18.7         16.0         14.5         17.7   

Reported – %

      19.5         16.9         13.3         2.3         14.4   

Interest coverc

               

Adjusteda– times

      4.5         3.4         2.9         2.5         3.6   

Reported – times

      6.0         2.8         1.8         0.5         6.2   

Net debt to EBlTDAb – times

      1.5         1.5         1.6         2.0         1.6   

Capital expenditure as a percentage of revenueb – %

      13.4         12.9         12.1         14.4         16.1   

 

a 

The ratio is based on profit before taxation and net finance expense to average capital employed. Capital employed is represented by total assets less current liabilities (excluding corporation tax, current borrowings, derivative financial liabilities and finance lease creditors) less deferred and current tax assets, retirement benefit asset, cash and cash equivalents, derivative financial assets and investments.

b 

Before specific items.

c 

The number of times net finance expense is covered by operating profit.