Income statement

Investor centre

You are here: Home > Investor centre > Financial information > Income statement

Summary income statement

Year ended 30 June			Growth
(In £'s million)	2009	2008	Actual	LFL*
Turnover	2,447.7	2,540.0	(4)%	(8)%
Net fees
Temporary	373.4	385.2	(3)%	(7)%
Permanent	297.4	401.6	(26)%	(29)%
Total	670.8	786.8	(15)%	(18)%
Operating profit**	158.0	253.8	(38)%	(40)%
Conversion rate	23.6%	32.3%
Underlying temporary margin***	16.8%	16.9%
Temporary fees as % of total net fees	56%	49%
Period-end consultant headcount****	4,259	5,749	(26)%	(26)%

* LFL (like-for-like) growth represents organic growth for 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.
*** The temporary placement gross margin is calculated as temporary placement net fees divided by temporary placement gross revenue. We have presented the underlying temporary margin since the withdrawal of the staff hire concession has had the effect of reducing our headline gross margin, as the full cost of the relevant temporary worker is now required to be recognised in turnover whereas under the staff hire concession only our commission on these temporary workers was recognised within turnover.
**** The change in consultants is shown on a closing basis, comparing 30 June 2009 versus 30 June 2008. Consultant headcount is adjusted for the reclassification of 49 consultants within Asia Pacific to non-consultant employees as at 30 June 2008.