Delivering superior financial performance
Earnings
We aim to increase our adjusted earnings each year to support our dividend policy and return value to our shareholders.
The key performance measure we use to monitor our overall performance on earnings is adjusted earnings per share.
Adjusted earnings per share
pence
Adjusted earnings per share for 2008/09 increased by 3.1 pence, an increase of 6% compared with 2007/08 (2007/08: increased by 9.5 pence, an increase of 25% compared with 2006/07).
This increase reflected the higher adjusted profit for the year from continuing operations and the effects of the share repurchase programme that returned £597 million of value to shareholders (2007/08: the increase in adjusted profit from continuing operations and £1,516 million returned under the share repurchase programme).
A more comprehensive analysis of our financial performance is provided under financial performance. This includes a description of, and our reasons for using, adjusted profit measures under measurement of financial performance and use of adjusted profit measures.