Financial information

Financial highlights for the year ended 30 June 2009

Year ended 30 June (In £'s million)	2009	2008	Actual growth	LFL* growth
Net fees	670.8	786.8	(15)%	(18)%
Operating profit from continuing operations**	158.0	253.8	(38)%	(40)%
Cash generated by operations	260.9	256.0	2%
Profit before tax	151.0	264.4	(43)%
Basic earnings per share**	7.72p	12.59p	(39)%
Dividend per share	5.80p	5.80p	-

* LFL (like-for-like) growth represents organic growth of continuing activities at constant currency. There were the same number of trading days in 2009 and 2008.
** Continuing activities only. 2008 numbers are presented pre-exceptional items. There were no exceptional items in 2009.

Difficult market conditions, particularly in the second half, resulted in a fall in Group net fees and operating profit
Increase in cash generated by operations to £260.9 million, primarily due to unwind of working capital
Strong balance sheet with net cash position of £0.7 million (2008: net debt of £81.1 million)
Dividend maintained at 5.80p

Operational highlights for the year ended 30 June 2009

Temporary placement net fees down 7%* and permanent placement fees down 29%*
Advantage taken of opportunities in resilient markets, particularly in the public sector and in Germany
24% reduction in cost base in June 2009 versus June 2008 following early and continued action taken to protect profits
Selective development of the International business, now representing 51% of Group net fees
Investing for the long term, including key IT efficiency projects and corporate account development