Notes to the accounts

2 Segmental analyses

a) Analysis by class of business

	Turnover			Profit before interest and tax			Net assets
	2004 £m	2003 £m		2004 £m	2003 £m		2004 £m	2003 (restated) £m
Electronic controls	139.7	132.1		17.2	15.8		43.2	42.1
In-line instrumentation	198.4	182.0		20.8	22.3		51.3	45.0
Process technology	276.1	253.9		27.2	21.7		70.0	67.6
Total continuing operations	614.2	568.0		65.2	59.8		164.5	154.7
Goodwill amortisation				(13.0)	(12.4)
Loss on sale or termination of businesses				(1.2)	(0.4)
Net debt							(158.9)	(163.4)
Intangible assets							224.1	227.0
Net pension liability							(14.0)	(12.0)
Dividends							(12.4)	(11.2)
Other							(7.3)	(5.7)
	614.2	568.0		51.0	47.0		196.0	189.4

The operating businesses are grouped as follows:

Electronic controls:

Arcom Control Systems, HBM, Microscan, Red Lion Controls.

In-line instrumentation:

Beta LaserMike, Brüel & Kjær Vibro, BTG, Ircon, Loma Systems, NDC Infrared Engineering, Servomex.

Process technology:

Brüel & Kjær Sound & Vibration, Fusion UV Systems, Malvern Instruments, PANalytical, Particle Measuring Systems.

Goodwill amortisation of £1.9m (2003: £1.9m) relates to the Electronic controls sector, £4.3m (2003: £4.1m) relates to the In-line instrumentation sector and the remaining £6.8m (2003: £6.4m) relates to the Process technology sector.

Intangible assets of £31.4m (2003: £33.5m) relates to the Electronic controls sector, £70.0m (2003: £69.8m) relates to the In-line instrumentation sector and the remaining £122.7m (2003: £123.7m) relates to the Process technology sector.

Loss on sale or termination of businesses of £1.2m relates to the Electronic controls sector (£0.6m) and corporate activities (£0.6m) (2003: £0.4m relating to Electronic controls).

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b) Analysis by geographical origin

	Turnover			Profit before interest and tax			Net assets
	2004 £m	2003 £m		2004 £m	2003 £m		2004 £m	2003 (restated) £m
UK	115.5	97.1		9.0	9.9		9.1	19.9
Continental Europe	391.4	374.5		35.4	35.7		101.6	85.4
North America	215.0	205.7		13.4	7.7		32.8	37.0
Asia Pacific	89.9	70.5		7.2	6.2		19.6	12.6
Rest of the world	5.3	2.3		0.2	0.3		1.4	(0.2)
	817.1	750.1		65.2	59.8		164.5	154.7
Intra-group sales	(202.9)	(182.1)
Total continuing operations	614.2	568.0		65.2	59.8		164.5	154.7
Goodwill amortisation				(13.0)	(12.4)
Loss on sale or termination of businesses				(1.2)	(0.4)
Net debt							(158.9)	(163.4)
Intangible assets							224.1	227.0
Net pension liability							(14.0)	(12.0)
Dividends							(12.4)	(11.2)
Other							(7.3)	(5.7)
	614.2	568.0		51.0	47.0		196.0	189.4

Goodwill amortisation of £1.5m (2003: £1.1m) arises on acquisitions made within the UK and £0.4m (2003: £0.2m) arises in North America. The remaining amortisation of £11.1m (2003: £11.1m) relates to the acquisition of businesses in Continental Europe.

Intangible assets of £29.0m (2003: £23.9m) reside in the UK, £6.4m (2003: £6.1m) reside in North America and £1.8m (2003: £nil) reside in Asia Pacific. The remaining £186.9m (2003: £197.0m) resides in Continental Europe.

Loss on sale or termination of businesses of £1.2m relates to Continental Europe (£0.6m) and the UK (£0.6m) (2003: £0.4m relating to the UK).

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c) Analysis of turnover by geographical destination

	2004 £m	2003 £m
UK	39.4	36.1
Continental Europe	242.5	223.5
North America	157.5	156.1
Japan	45.9	40.7
China	40.3	36.0
Rest of Asia Pacific	59.0	48.6
Rest of the world	29.6	27.0
	614.2	568.0

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