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for the year ended 31 March 2001
 
Summary Financial Statement
Statutory information
      2001     2000    
      £m     £m    
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Total turnover     29,666     21,903    
Less groupís share of venturesí turnover, excluding trading between group and principal joint venture                
               
    (9,239 )   (3,188 )  
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Group turnover     20,427     18,715    
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Groupís share of operating loss of ventures     (397 )   (400 )  
Total operating profit (loss)     (336 )   3,198    
Profit on sale of subsidiaries and investments     619     126    
Net interest payable     (1,314 )   (382 )  
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Profit (loss) before taxation (a)     (1,031 )   2,942    
Taxation     (652 )   (897 )  
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Profit (loss) after taxation     (1,683 )   2,045    
Minority interests     (127 )   10    
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Profit (loss) for the financial year     (1,810 )   2,055    
Dividends     (571 )   (1,426 )  
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Retained profit (transfer from reserves)     (2,381 )   629    
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Earnings (loss) per share     (27.7) p   31.7 p  
Dividends per share     8.7 p   21.9 p  
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Profit before goodwill amortisation, exceptional items and taxation (a)                
    2,072     3,100    
                 
Earnings per share before goodwill amortisation and exceptional items (a)                
               
    20.5 p   34.2 p  
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Directorsí emoluments     4.3     4.2    
                 
Value of shares received by directors under long-term incentive schemes                
    0.8     1.8    
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The executive directors receive pensions on retirement.          
                 
(a) The 2001 figures include goodwill amortisation of £558 million (2000 – £173 million) and net exceptional pre-tax, pre-minority interests losses of £2,545 million (2000 – £15 million gain). The 2001 net exceptional pre-tax, pre-minority interest losses primarily represent impairment of goodwill of £3,200 million, partially offset by profit made on the disposal of group undertakings and rates refunds received.
 
Summary financial statement
A guide to the figures
 
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image Total turnover   Products and services sold to customers by BT, together with our share of our ventures’ sales.
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image Net interest payable   Interest paid on borrowings less interest received on short-term investments.
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image Earnings (loss) per share   Our profit (loss) for the financial year divided by the average number of shares in issue during the period.
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