|Net asset value per share
|equity attributable to owners of Imperial divided by total ordinary shares in issue net of
share repurchased (the deferred ordinary shares only participate to the extent of their par
value of 0,04 cents).
|is the aggregate of interest-bearing borrowings, non-redeemable, non-participating
preference shares less cash resources.
|Net working capital
|consists of inventories, trade and other receivables, trade and other payables
|total assets less loans receivable, tax assets, assets classified as held for sale and cash
resources in respect of non-financial services segments.
|total liabilities less non-redeemable, non participating preference shares, interest-bearing
borrowings, tax liabilities, put option liabilities and liabilities directly associated with
assets classified as held for sale.
|Operating margin (%)
|operating profit divided by revenue.
|calculated as profit before tax, impairment of goodwill and profit or loss on sale of
investment in subsidiaries, associates and joint ventures and other businesses.
|Return on invested capital (%)
|return divided by invested capital. Return is calculated using profit after tax and share of
non-controlling interests, increased by the after-tax effects of net finance costs and
exceptional items. Invested capital is a 12-month average of shareholders equity plus
preference shares plus debt (long term and short term interest-bearing borrowings less
long term loans receivable) less non-financial services cash resources.
|Weighted average cost of capital (WACC) (%)
|calculated by multiplying the cost of each capital component by its proportional weight,
therefore: WACC = (after tax cost of debt % multiplied by average debt weighting) +
(cost of equity multiplied by average equity weighting).