Quarterly analysis of turnover and profit

*Quarterly analysis of turnover and profit* (UNAUDITED) YEAR ENDED 31 MARCH 1996

Quarters	1st Łm	2nd Łm	3rd Łm	4th Łm	Total Łm

Turnover	3,499	3,549	3,620	3,778	14,446

Operating profit (a)	886	798	835	581	3,100
Group’s share of profits (losses) of associated undertakings	31	(26)	30	47	82
Profit on sale of group undertakings	5	-	2	-	7
Interest receivable	(42)	(51)	(53)	(55)	(201)
Interest payable	90	91	91	99	371

Profit on ordinary activities before taxation	874	732	829	584	3,019
Tax on profit on ordinary activities	297	249	282	199	1,027

Profit on ordinary activities after taxation	577	483	547	385	1,992
Minority interests	2	4	-	-	6

Profit for the financial period	575	479	547	385	1,986

Earnings per share	9.2p	7.6p	8.7p	6.1p	31.6p

(a) including redundancy charges	22	101	60	238	421


(UNAUDITED) YEAR ENDED 31 MARCH 1995

Quarters	1st Łm	2nd Łm	3rd Łm	4th Łm	Total Łm

Turnover	3,382	3,469	3,466	3,576	13,893

Operating profit (a) (b)	841	831	669	322	2,663
Group’s share of profits of associated undertakings	3	15	31	43	92
Profit on sale of group undertakings	-	-	33	208	241
Interest receivable	(37)	(42)	(38)	(38)	(155)
Interest payable	100	101	111	102	414
Premium on repurchase of bonds	-	75	-	-	75

Profit on ordinary activities before taxation	781	712	660	509	2,662
Tax on profit on ordinary activities	270	271	228	157	926

Profit on ordinary activities after taxation	511	441	432	352	1,736
Minority interests	7	9	(9)	(2)	5

Profit for the financial period	504	432	441	354	1,731

Earnings per share	8.1p	6.9p	7.1p	5.7p	27.8p

(a) including redundancy charges	54	97	217	452	820

(b) Operating profit for the fourth quarter and year ended 31 March 1995 has been restated for a reclassification of the annual charge for the employee share ownership scheme.

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