Holiday Inn 2003 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2003 Holiday Inn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

63
Pro forma*
31 Dec 31 Dec 30 Sept 30 Sept
2003 2002 2002** 2001**
INTERCONTINENTAL HOTELS GROUP PLC restated*** restated***
GROUP BALANCE SHEET £m £m £m £m
Fixed assets 4,281 4,510 4,495 4,575
Stocks 44 43 42 46
Debtors 523 456 545 484
Investments 377 193 216 364
Cash at bank and in hand 55 135 68 49
Amounts due from MAB –– 831 825
Short-term creditors (1,085) (1,025) (2,054) (1,759)
Net current (liabilities)/assets (86) (198) (352) 9
Long-term creditors (1,085) (1,423) (763) (1,179)
Provisions (393) (336) (334) (419)
Minority interests (163) (139) (149) (133)
Net assets 2,554 2,414 2,897 2,853
Shareholders’ funds 2,554 2,414 2,897 2,853
Comprising:
Hotels 3,738 4,060 4,084 3,918
Soft Drinks 300 268 246 252
Net operating assets 4,038 4,328 4,330 4,170
Net debt (569) (1,000) (1,191) (1,016)
Other**** (915) (914) (242) (301)
Shareholders’ funds 2,554 2,414 2,897 2,853
Statistics
Gearing***** 22.3% 41.4% 41.1% 35.6%
Return on net operating assets****** 7.0% 7.1% 7.6% 11.7%
* See page 12.
** Represents the continuing IHG business as disclosed in InterContinental Hotels Group PLC Listing Particulars February 2003. Hotels includes
Other Activities which was separately disclosed in those Listing Particulars.
*** Restated on the adoption of UITF 38 (see page 32).
**** Proposed dividend, corporate taxation, deferred taxation, minority interests and balances with MAB.
***** Net debt expressed as a percentage of shareholders’ funds.
****** Operating profit before exceptional items expressed as a percentage of net operating assets.