In 2007, Tarmac’s operating profit climbed by 38% (excluding benefits from exchange rate movements) to $474 million. Although the year was characterised by high cost pressures and volatile energy prices in a tight and highly competitive market, disciplined margin management, procurement initiatives and healthy demand from certain sectors had a major positive bearing on results. In the UK, operating profits grew by 41% with sales growing ahead of the market. At Tarmac International, operating profits were 32% higher, benefiting from milder weather and buoyant markets in France, Poland and the Czech Republic.
|$ million (unless otherwise stated)||2007||2006|
|Net operating assets||4,509||4,185|
|Share of Group operating profit||5%||4%|
|Share of Group net operating assets||17%||20%|
In 2007, Copebrás and Yang Quarry were reclassified from Industrial Minerals to Base Metals and Coal respectively, to align with internal management reporting. As such, the comparative data has been reclassified.