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Consolidated Income Statement

2007 2006
Underlying1
€m
Amounts
excluded from
underlying
€ m
Total
€m
  Underlying1 as restated2
€m
Amounts
excluded from
underlying
€ m
Total
as restated2
€m

Continuing operations
Revenue 1,326.8 - 1,326.8   1,255.8 - 1,255.8
Cost of sales (750.1) - (750.1)   (698.8) - (698.8)

Gross profit
576.7 - 576.7   557.0 - 557.0
Administrative expenses (470.2) (5.2) (475.4)   (467.5) (27.7) (495.2)

Operating profit/(loss)
106.5 (5.2) 101.3   89.5 (27.7) 61.8
Finance income 5.4 0.8 6.2   4.3 1.8 6.1
Finance costs (75.1) - (75.1)   (64.3) (2.3) (66.6)
Share of profit of joint venture and associate 0.8 - 0.8   0.5 - 0.5

Profit/(loss) before taxation
37.6 (4.4) 33.2   30.0 (28.2) 1.8
Taxation (11.4) (6.5) (17.9)   (8.8) 5.5 (3.3)

Profit/(loss) after taxation
26.2 (10.9) 15.3   21.2 (22.7) (1.5)

Discontinued operation - Greece
Profit/(loss) after taxation 3.5 (15.9) (12.4)   3.0 - 3.0

Profit/(loss) for the year
29.7 (26.8) 2.9   24.2 (22.7) 1.5

Attributable to:
- equity holders of the Company
29.8 (26.8) 3.0   24.2 (22.7) 1.5
- minority interest (0.1) - (0.1)   - - -

Profit/(loss) for the year
29.7 (26.8) 2.9   24.2 (22.7) 1.5

Earnings per share (euro cents)
Basic and diluted     0.3       0.2
Basic and diluted - continuing   1.6       (0.2)

1 Underlying excludes exceptional items, certain re-measurement items and economic hedges - see Basis of Preparation.
2 Restated following the prior year adjustment regarding Avis Portugal and the reclassification of the discontinued operation - Greece.

 

Avis Europe plc, Incorporated and registered in England and Wales.
Registered Office: Avis House, Park Road, Bracknell, Berkshire, RG12 2EW.
Registered Number: 3311438.
© 2000-2007 AVIS Europe plc