Net profit: Net profit, including the Group's share of the results of British American Tobacco, increased by 21 per cent to € 1 329 million. Earnings per unit on a diluted basis increased by 19 per cent to 2.331 per unit.
Cash position: The Group's net cash position at 31 March 2007 was € 1 141 million. During the year, Group net cash increased by € 257 million, reflecting strong cash generation by the Group's luxury business of € 970 million, the dividends received from BAT and the payment to unitholders of ordinary and special dividends amounting to € 612 million.
Dividend: In addition to the 8 per cent increase in the level of ordinary dividend to € 0.65 per unit, a special dividend of € 0.60 per unit will also be paid to unitholders in September 2007. The dividend for the year will therefore amount to € 1.25 per unit.
Operating profit in both years included non-recurring items of a non-operational nature. During the year under review, the impact on operating profit was a gain of € 16 million (2006: gain of € 28 million). The Group's share of the results of its principal associate, British American Tobacco, also includes non-recurring items reported by that entity.
Including the Group's share of results from associates, the overall impact of these non-recurring items, after taxation and minority interests, on net profit was a loss of € 22 million (2006: € 18 million). Excluding nonrecurring items, net profit attributable to unitholders increased by 21 per cent to € 1 350 million from € 1 112 million in the prior year. An analysis of the effect of non-recurring items is given on page 10 of this document.