FINANCIAL INFORMATION
FY2012 FINANCIAL HIGHLIGHTS
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Strong International net fee growth of 16%(1) driving Group net fee growth of 8%(1)
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Good operating profit growth of 9%(1) due to our selective investment approach and focussed cost control
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Record performance in Continental Europe & Rest of World, delivering 23%(1) net fee growth
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Broad-based growth, with Germany up 30%(1), Brazil up 30%(1), Canada up 25%(1) and France up 17%(1)
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Good performance in Asia Pacific, delivering 10%(1) net fee growth with markets increasingly multi-speed
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Australia & New Zealand net fees up 10%(1), Asia net fees up 11%(1) with Japan up 16%(1)
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The UK market became increasingly challenging as the year progressed, with net fees down 7%
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Private sector net fees down 6%. Public sector down 8% but sequentially stable over the year
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Cost reductions delivered in the second half to protect the financial performance of the business
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Consultant headcount up 1% year-on-year, but down 4% in the second half, reflecting our strategy to capitalise on growth markets whilst maximising Group profit
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Excellent cash performance, with 127% conversion of operating profit into operating cash flow(3)
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5% growth in basic earnings per share(2) to 5.47p; full year dividend down 57% to 2.50p, in line with the rebased level announced at the Interim results
(1) LFL (like-for-like) growth represents organic growth of continuing activities at constant currency.
(2) Continuing operations only, before exceptional items. 2011 profit numbers are presented before an exceptional credit of £4.1 million.
(3) Cash generated by operations excludes cash impact of exceptional items of £7.0 million (2011: £15.4 million) paid in the year.
