Notes to the consolidated financial statements for the year ended 31 December 2008

1 Business segments

For management purposes, the Group is organised into five operating divisions: Fit Out, Construction, Infrastructure Services, Affordable Housing and Urban Regeneration. The divisions are the basis on which the Group reports its primary segment information. Segment information about the Group’s continuing operations is presented below:

2008	Fit Out £m	Construction £m	Infrastructure Services £m	Affordable Housing £m	Urban Regeneration £m	Group Activities £m	Total £m
Revenue	473.7	813.1	799.2	377.2	83.6	1.3	2,548.1
Operating profit/(loss)
before amortisation	25.8	9.5	14.4	21	6.5	(12.7)	64.5
Share of results of
associates and joint ventures after tax	–	–	–	–	1.3	1.3	2.6
Profit/(loss) from
operations before
amortisation	25.8	9.5	14.4	21	7.8	(11.4)	67.1
Amortisation of
intangible assets	–	(2.1)	(0.8)	–	(6.2)	–	(9.1)
Profit/(loss) from
operations	25.8	7.4	13.6	21.0	1.6	(11.4)	58.0
Net finance income							4.3
Profit before tax							62.3

2007	Fit Out £m	Construction £m	Infrastructure Services £m	Affordable Housing £m	Urban Regeneration £m	Group Activities £m	Total £m
Revenue	491.7	621.4	575.4	398.0	25.9	2.2	2,114.6
Operating profit/(loss)
before amortisation	25.9	4.9	10.6	25.5	0.9	(14.5)	53.3
Share of results of
associates and joint
ventures after tax	–	–	–	–	3.3	1.4	4.7
Profit/(loss) from
operations before
amortisation	25.9	4.9	10.6	25.5	4.2	(13.1)	58.0
Amortisation of
intangible assets	–	(1.0)	(0.3)	–	(3.2)	–	(4.5)
Profit/(loss) from
operations	25.9	3.9	10.3	25.5	1.0	(13.1)	53.5
Net finance income							4.1
Profit before tax							57.6

Balance sheet analysis of business segments:

2008	Fit Out £m	Construction £m	Infrastructure Services £m	Affordable Housing £m	Urban Regeneration £m	Group Activities £m	Total £m
Equity accounted
joint ventures	–	–	–	0.1	41.5	11.4	53.0
Goodwill	–	68.8	82.4	15.4	16.7	–	183.3
Other intangible
assets	–	1.5	0.6	–	21.3	–	23.4
Other assets	115.7	224.3	188.7	161.6	24.3	10.7	725.3
Total assets	115.7	294.6	271.7	177.1	103.8	22.1	985.0
Total liabilities	(103.5)	(282.8)	(209.5)	(134.6)	(35.6)	(26.7)	(792.7)

Other information:
Property, plant &
equipment additions	1.5	3.0	12.1	0.3	0.1	0.6	17.6
Depreciation	1.3	1.3	4.7	0.3	0.2	0.3	8.1
Amortisation	–	2.1	0.8	–	6.2	–	9.1

2007 (restated)	Fit Out £m	Construction £m	Infrastructure Services £m	Affordable Housing £m	Urban Regeneration £m	Group Activities £m	Total £m
Equity accounted
joint ventures	–	–	–	–	28.4	9.7	38.1
Goodwill	–	68.7	82.5	15.4	16.7	–	183.3
Other intangible
assets	–	3.6	1.4	–	27.5	–	32.5
Other assets	125.2	246.5	142.3	150.7	28.3	131.0	824.0
Total assets	125.2	318.8	226.2	166.1	100.9	140.7	1,077.9
Total liabilities	(118.2)	(336.6)	(179.1)	(130.1)	(58.0)	(90.2)	(912.2)

Other information:
Property, plant &
equipment additions	3.0	1.7	7.0	0.3	–	1.3	13.3
Depreciation	1.0	0.9	3.2	0.3	–	0.9	6.3
Amortisation	–	1.0	0.3	–	3.2	–	4.5