AVESCO GROUP PLC INTERIMREPORT 2010 www.avesco.com


07


NOTES TO INTERIM REPORT AND ACCOUNTS FOR THE SIX MONTHS ENDED 31 MARCH 2010


1. General information Avesco Group plc (‘the Company’) and its subsidiaries (together ‘the Group’) is an international media services business. The Group has subsidiaries around the world and sells in the UK, the US, Europe, China, Singapore, Dubai and Australia.


The Company is a public limited company which is listed on the Alternative Investment Market and is incorporated and domiciled in the UK. The address of its registered office is Unit E2, Sussex Manor Business Park, Gatwick Road, Crawley, West Sussex, RH10 9NH.


The registered number of the Company is 01788363.


2. Status of interim report and accounts The interim report and accounts are unaudited but have been reviewed by the auditors and their independent review report is appended to this document. The interim report and accounts, which were approved by the Board of Directors on 17 June 2010, are not full accounts within the meaning of section 434 of the Companies Act 2006.


The figures for the year ended 30 September 2009 have been extracted from the audited annual report and accounts that have been delivered to the Registrar of Companies. PricewaterhouseCoopers LLP, Avesco Group plc’s auditors, reported on those accounts under section 495 of the Companies Act 2006. Their report was unqualified and did not contain a statement under section 498 of that Act.


3. Basis of preparation The interim report and accounts have been prepared using the accounting policies to be applied in the annual report and accounts for the year ending 30 September 2010. These are consistent with those included in the previously published annual report and accounts for the year ended 30 September 2009, which have been prepared in accordance with IFRS as adopted by the European Union.


Alternative performance measures The Group uses alternative non-Generally Accepted Accounting Practice (“non-GAAP”) financial measures which are not defined within IFRS. The Directors use these measures in order to assess the underlying operational performance of the Group and as such, these measures are important and should be considered alongside the IFRS measures. The following non-GAAP measures are referred to in these interim report and accounts.


a) Tradingprofit/loss ‘Trading profit/loss’ is separately disclosed, being defined as operating profit adjusted to exclude amortisation of acquired intangible assets, restructuring costs, impairment of property, plant and equipment and the impairment of goodwill. The Directors believe that adjusted operating profit/loss is an important measure of the underlying performance of the Group.


b) Adjustedearningspershare ‘Adjusted earnings per share’ is calculated by dividing the profit for the period excluding the amortisation of acquired intangible assets, restructuring costs, impairment of property, plant and equipment, impairment of goodwill and the profit from discontinued operations and all related taxation effects. The Directors believe that adjusted earnings per share provides an important measure of the underlying earnings capacity of the Group.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16