Financial highlights
Revenue of the ongoing businesses 10.1% ahead of last year at constant exchange rates, including like-for-like growth of 7.1%.
Trading profit of the ongoing businesses £857 million, 11.4% ahead of last year at constant exchange rates.
Trading margin for the ongoing businesses up 10 basis points to a record 6.4%.
Strong cash generation with net debt of £805 million (2014: £711 million) after £472 million cash outflow for dividends and share buybacks over the year.
Proposed final dividend 10% ahead of last year.
Further £300 million share buyback programme announced.
Impairment and exceptional items of £242 million (2014: credit of £1 million) includes previously announced impairment charge of £234 million relating to the Nordics.
Shareholder returns
The Group aims to generate attractive and sustainable financial returns for shareholders. The Board will recommend a final dividend of 60.5 pence per share (2014: 55.0 pence per share) for payment on 3 December 2015 to shareholders on the register on 23 October 2015. This will bring the total dividend for the year to 90.75 pence per share (2014: 82.5 pence per share), which is a year-on-year increase of 10.0%. The Board is committed to a progressive dividend policy. Our investment priorities remain focused on achieving organic growth, maintaining the ordinary dividend through the cycle and investing in bolt-on acquisitions that meet our stringent investment criteria. Any surplus cash after meeting these investment needs will be returned to shareholders.
Reflecting management's confidence in the business and the continuing strong cash generation of the Group, and after taking into account the excellent opportunities to invest in organic growth and acquisitions, the Board considers that the Group has surplus cash resources available. The Group will now commence a £300 million share buyback programme with the intention to complete this within the next 12 months.
