Peachtree 2006 Annual Report Download - page 11

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11
Earnings growth
•EBITA margin 27% (2005:
27%*)
•EBITA is the most
accurate measure
–Amortisation and
capitalisation effects
excluded
•Revenue growth and
product and service
investments both drive
margin
-(1.2)Forex
23%249.3203.3
Earnings before interest, tax
and net amortisation (EBITA)
(13.6)(3.3)
Amortisation of acquired
intangible assets
20%(8.9)(7.4)Share-based payment
0.10.5
Net capitalisation of software
development
18%235.8199.3Operating profit
(0.8)(0.6)
Amortisation of capitalised software
development
0.91.1
Capitalisation of software
development
%
growth
23%258.2210.7EBITA pre share-based payment
2006
£m
2005
£m
*At constant exchange rates