IFRS			UK GAAP
	2007	2006	2005	2004	2003
	£m	£m	£m	£m	£m
Operating profit before exceptional items	66.2	60.2	53.5	54.1	54.7
Net investment income /(interest payable)	2.1	3.4	4.6	4.7	(3.5)
Profit before taxation and exceptional items	68.3	63.6	58.1	58.8	51.2
Exceptional items	(0.4)	(2.4)	(4.7)	1.2	-
Profit before taxation	67.9	61.2	53.4	60.0	51.2
Taxation	(18.5)	(18.6 )	(18.3)	(18.2)	(16.9)
Profit for the year	49.4	42.6	35.1	41.8	34.3
Attributable to:
Equity holders of the parent	42.4	35.4	28.8	38.3	30.6
Minority interests	7.0	7.2	6.3	3.5	3.7
Net assets attributable to ordinary shareholders	311.8	292.0	291.0	259.6	243.4
Per ordinary share:
Basic earnings*	9.99p	8.33p	6.60p	8.86p	6.84p
Adjusted basic earnings*	9.78p	8.90p	7.85p	8.15p	6.84p
Dividend (interim and final declared post year-end)*	4.27p	3.88p	3.53p	3.20p	2.90p
Times cover – after exceptional items*	2.3	2.1	1.9	2.8	2.4
Times cover – before exceptional items*	2.3	2.3	2.2	2.5	2.4
Net assets*	72.72p	68.10p	71.40p	63.70p	59.80p

The amounts disclosed for 2004 and earlier periods are stated on the basis of UK GAAP because it is not practicable to restate amounts for periods prior to the date of transition to IFRS. The significant changes on adoption of IFRS can be found on the Group website www.pzcussons.com.

On 29th June 2005 the ‘A’ (non-voting) ordinary shares were redesignated as ordinary shares. There was also a compensatory bonus to ordinary shareholders on the basis of one new ordinary share for every ten ordinary shares held. In accordance with IAS 33 ‘Earnings per share’ the comparative figures have been re-presented to include both the ordinary and ‘A’ ordinary shares.

* The comparative figures have been restated for the share split, on the basis of ten for one, which was approved at the last annual general meeting on 25th September 2006, such that now ten 1p ordinary shares for every 10p ordinary share previously in existence before the share split.