Charter, headquartered in London, owns (through a number of intermediate companies) two international engineering businesses, one focused on welding, cutting and automation (‘ESAB’), and the other on air and gas handling (‘Howden’).
Financial highlights
The table below sets out the financial highlights of the year ended 31 December 2007.
 |
2007 £m |
2006 (restated)1 £m |
||
|---|---|---|---|---|
| Revenue | 1,451.1 | 1,257.9 | +15.4% | |
| Operating profit | 173.3 | 144.6 | +19.8% | |
| Adjusted profit before tax2 | 181.1 | 145.8 | +24.2% | |
| Profit before tax | 178.1 | 146.0 | +22.0% | |
| Cash flow from operations | 149.1 | 106.8 | +39.6% | |
| pence | pence | |||
| Earnings per share | Adjusted3 | 84.7 | 68.1 | +24.4% |
| Basic | 82.7 | 74.4 | +11.2% | |
| Recommended final dividend per share | 12.0 | nil | ||
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1 the 2006 comparatives have been restated to reflect the change in accounting for post employment benefits.
2 before amortisation and impairment of acquired intangibles and goodwill and (losses)/gains on retranslation of intercompany loan balances.
3 before amortisation and impairment of acquired intangibles and goodwill, exceptional tax credit of £10.5 million in 2006 and (losses)/gains on
retranslation of intercompany loan balances.
View further financial information.
Businesses
1. ESAB
ESAB is a world-leading manufacturer and supplier of welding consumables and equipment, and cutting and automation solutions.
Key business opportunities
- Establishing itself as customers' preferred welding and cutting partner
- Exploiting welding process technology leadership
- Increasing presence in developing markets
- Continuing to improve cost efficiency in manufacturing and supply chain
Revenue by destination
|
2007 £m |
2006 £m |
Increase % |
Increase at constant exchange rates % |
|---|---|---|---|---|
| Europe | 474.8 | 398.9 | +19.0 | +18.1 |
| North America | 213.4 | 210.2 | +1.5 | +8.4 |
| South America | 137.2 | 106.2 | +29.2 | +29.2 |
| China | 24.7 | 20.9 | +18.2 | +22.0 |
| Rest of world | 120.7 | 92.2 | +30.9 | +35.7 |
| Total | 970.8 | 828.4 | +17.2 | +19.1 |
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2. Howden
Howden is an international applications engineer with a world-leading position in the design, supply and servicing of air and gas handling equipment.
Key business opportunities
- Taking advantage of increased focus on coal as a strategic energy source
- Exploiting market opportunities in Europe and North America
- Improving market share in petrochemical industry
- Increasing aftermarket activity
- Developing new markets and introducing full range of products into China
Revenue by destination
|
2007 £m |
2006 £m |
Increase / (decrease) % |
Increase / (decrease) at constant exchange rates % |
|---|---|---|---|---|
| Europe | 140.6 | 100.5 | +39.9 | +39.6 |
| North America | 114.8 | 87.6 | +31.1 | +36.2 |
| China | 114.1 | 148.9 | -23.4 | -20.8 |
| South America | 15.4 | 12.6 | +22.2 | +19.8 |
| Rest of world | 95.4 | 79.9 | +19.5 | +24.8 |
| Total | 480.3 | 429.5 | +11.8 | +14.6 |
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