| Summary
group balance sheet AT 31 MARCH 1999 |
||||
|
1999
£m |
1998(a)
£m |
|||
Fixed
assets  |
20,428
|
18,960
|
||
| Current
assets Creditors: amounts falling due within one year |
7,534
(8,029) |
4,325
(6,962) |
||
| Net
current liabilitites |
(495)
|
(2,637)
|
||
| Total
assets less current liabilities |
19,933
|
16,323
|
||
| Creditors:
amounts falling due after one year Provisions for liabilities and charges Minority interests Capital and reserves |
3,386
1,391 216 14,940 |
3,889
1,426 223 10,785 |
||
|
19,933
|
16,323
|
||
| (a)
1998 figures have been restated for changes in accounting policies
adopted in the year (b) 1998 figures include exceptional items of £238m other operating income from MCI merger break-up fee and £510m windfall tax charge (c) 1999 figures include net exceptional pre-tax gains of £1,038m principally comprising the gain on sale of MCI shares, less associated disengagement costs The executive directors receive pensions on retirement • Global venture with AT&T announced • £1.3 billion invested in strategic alliances and joint ventures in Europe and Asia Pacific • 12 per cent growth in demand for BT's products and services driven by rapidly-expanding Internet traffic and mobile usage • BT Cellnet's customer connections up by 1.4 million to 4.5 million |
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