Peachtree 2012 Annual Report Download - page 123

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Overview
Performance
Governance
Other notes continued
16.3 Contribution of acquisitions
From the dates of the acquisitions to 30 September 2012, the acquisitions contributed £17.9m to revenue and £3.5m to profit before income tax. Had these
acquisitions occurred at the beginning of the financial year, contribution to Group revenue would have been £55.4m and Group profit before income tax
would have increased by £1.1m.
16.4 Acquisition-related items
Acquisition-related items of £4.4m (2011: £0.4m) have been included in selling and administrative expenses in the Consolidated income statement. These
acquisition-related items (previously recognised in goodwill prior to IFRS 3 (Revised), “Business Combinations”) relate to completed transactions and include
advisory, legal, accounting, valuation and other professional or consulting.
16.5 Disposal of Sage Software Healthcare, LLC
On 10 November 2011 the Group disposed of Sage Healthcare for £204.0m consideration. Details of net assets disposed of and the profit on disposal are as follows:
Sage Healthcare disposal
Carrying value
pre-disposal
£m
Non-current assets classified as held for sale 249.3
Liabilities directly associated with non-current assets classified as held for sale (46.4)
Net assets disposed 202.9
The profit on disposal is calculated as follows: £m
Disposal proceeds 204.0
Costs to sell recognised in year (0.2)
Disposal proceeds, less costs to sell recognised in year 203.8
Net assets disposed (202.9)
Profit on disposal 0.9
Cumulative exchange gain in respect of the net assets of the subsidiary, reclassified from equity on disposal 55.7
Profit on disposal 56.6
The profit on disposal is reflected in profit for the year from discontinued operations in the Consolidated income statement. In the year ended 30 September 2011
impairment charges and costs to sell totalling £121.5m were recognised in the loss for the year from discontinued operations in the Consolidated income
statement in respect of this transaction. All cash flows occurred in the current year.
The inflow of cash and cash equivalents on the disposal of Sage Healthcare is calculated as follows: £m
Disposal proceeds, less total costs to sell 199.9
Cash disposed (1.0)
Investing cash flows generated from discontinued operations, net of cash disposed 198.9
16.6 Other disposals
On 26 January 2012 the Group disposed of Edibase, a small product line of Sage SAS, for net cash consideration of £0.1m.
16.7 Contribution of disposals
Had the disposals occurred at the beginning of the financial year, Group revenue from continuing operations would have been £1,340.1m, Group profit before
income tax from continuing operations would have been unchanged. Sage Healthcare is reported in the financial statements as discontinued operations, the
financial performance for the period is given in note 15.2.
16.8 Analysis of net outflow of cash in respect of acquisitions and disposals
The outflow of cash and cash equivalents on the acquisitions and disposals is calculated as follows: Note £m
Folhamatic 16.1 (146.4)
Alchemex 16.1 (2.7)
Integral 16.1 (10.0)
Other 16.1 (3.7)
Acquisitions of subsidiaries 16.1 (162.8)
Other 16.6 0.1
Disposal of subsidiaries 16.6 0.1
Sage Healthcare 16.5 198.9
Disposal of discontinued operations 16.5 198.9
Financial statements
121
The Sage Group plc | Annual Report & Accounts 2012