Financial Highlights

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1. The Group disposed of the Composites and Defence Systems business in 2018, the disposal group formed the Composites and Defence Systems operating segment and has been classified as a discontinued operation under IFRS 5. The years ended 31 December 2018 and 2017 have been presented as Continuing operations throughout this Report. Further details are provided in notes 2 and 9 to the consolidated financial statements.
2. The year ended 31 December 2018 has been prepared reflecting the adoption of IFRS 15. The year ended 31 December 2017 has been restated to reflect the adoption of IFRS 15. Further details are provided in notes 1 and 27 to the consolidated financial statements.
3. EPS is presented on a ‘Continuing’ and a combined ‘Continuing and discontinued’ basis for Statutory reporting. Further details are provided in note 10 to the consolidated financial statements.
4. Throughout the Annual Report, including the Strategic Report, adjusted measures are used to describe the Group’s financial performance. These adjusted measures are not recognised under IFRS or other generally accepted accounting principles (GAAP). The Executive Committee and the Board manage and assess the performance of the business on these measures and believe that they are more representative of ongoing trading, facilitate year-on-year comparisons, and hence provide additional useful information to shareholders. Throughout this Report these non-GAAP measures are clearly identified by an asterisk (*) where they appear in text, and by a footnote where they appear in tables and charts. Definitions and reconciliations of these non-GAAP measures to the relevant GAAP measures can be found in the Group Financial Review.