Contents
	Chairman's statement
	Financial highlights
	An interview with Chief Executive, Sir Peter Bonfield
	Business review
	Financial review
	Board of directors
	Report of the directors
	Auditors' report on corporate governance matters
	Corporate governance
	Report on directors' remuneration
	Statement of directors' responsibility
	Report of the auditors
	Five year financial summary
	Accounting policies
	Consolidated financial statements
	Notes to the financial statements (1-10)
	Notes to the financial statements (11-20)
	Notes to the financial statements (21-30)
	Subsidiary and associated undertakings
	Quarterly analysis of turnover and profit
	Financial statistics
	Operational statistics
	Regulatory statistics and information
	Additional information for shareholders
	Glossary

•   Ten per cent growth in demand for BT's products and services
•   Prices reduced by over £750 million in the year
•   £1.5 billion invested in strategic alliances and joint ventures in Europe
•   Capital expenditure rose to over £3.0 billion
•   6.4 per cent adjusted increase in ordinary dividends per share
•   BT incurred £510 million windfall tax and received £238 million merger termination fee, net of expenses

 

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