Divisional Performance
For the year ended 1 January 2012
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| Morgan Engineered Materials | Morgan Ceramics | |||||||||||||||||||
| Morgan AM&T | Molten Metal Systems | Technical Ceramics | Thermal Ceramics | Consolidated | ||||||||||||||||
| 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |||||||||||
| £m | £m | £m | £m | £m | £m | £m | £m | £m | £m | |||||||||||
| Revenue from external customers | 369.1 | 367.7 | 46.7 | 40.3 | 285.1 | 250.1 | 400.1 | 359.0 | 1,101.0 | 1,017.1 | ||||||||||
| Divisional EBITA1 | 48.0 | 39.2 | 7.7 | 6.3 | 43.1 | 34.0 | 49.6 | 34.8 | 148.4 | 114.3 | ||||||||||
| Unallocated costs | (5.0) | (4.8) | ||||||||||||||||||
| Group EBITA2 | 143.4 | 109.5 | ||||||||||||||||||
| Restructuring costs and other one-off items | - | (1.6) | - | 0.1 | 1.1 | (1.7) | (3.0) | (4.7) | (1.9) | (7.9) | ||||||||||
| Underlying operating profit3 | 141.5 | 101.6 | ||||||||||||||||||
| Amortisation of intangible assets | (4.5) | (4.2) | (0.1) | (0.1) | (2.5) | (2.5) | (1.2) | (1.2) | (8.3) | (8.0) | ||||||||||
| Operating profit | 133.2 | 93.6 | ||||||||||||||||||
| Finance income | 27.7 | 29.0 | ||||||||||||||||||
| Finance expense | (49.5) | (54.9) | ||||||||||||||||||
| Profit before taxation | 111.4 | 67.7 | ||||||||||||||||||
1. Divisional EBITA is defined as segment operating profit before restructuring costs, other one-off items and amortisation of intangible assets.
2. Group EBITA is defined as operating profit before restructuring costs, other one-off items and amortisation of intangible assets.
3. Underlying operating profit is defined as operating profit before amortisation of intangible assets.
The above measures of profit are shown because the Directors use them to measure the underlying performance of the business, as referred to in the Business review section of the Annual Report.