News Releases issued to the Stock Exchange
04 May 2000

Interim results for the six months to 29 February 2000

Highlights Group Balance Sheet
Key Performance Indicators Group Cash Flow Statement
Key Initiatives Review Report (Auditors)
Review Notes 1 - 7, Notes 8 - 15
Financial Information Further Information
Group Profit & Loss Account City Presentation

Key Performance Indicators

Spirits & Wine

  • Trading profit +9% (£207m to £225m)
  • Net Brand Contribution from the brand portfolio grew by 9% (£332m to £363m) led by 15% growth from the Core 4 brands
  • Brand investment +11% (£140m to £155m)
  • Core 4 Brand volumes +5%, Brand Investment +14%

QSR

  • Trading profit +58% (£12m to £19m): US +12%, International turnaround
  • Systemwide sales +7%, US +8%
  • Same store sales Dunkin' Donuts (US) +7%
  • Multi-brand distribution points (US) +7%

Return On Investment

  • Increased to 9.0% from 8.3% (weighted average cost of capital 8.0%)

Cash Flow

  • Operating cashflow (net of fixed assets) from continuing businesses generated a cash inflow in the period of £117m.

Note: financial figures are at constant actual foreign currency rates