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    Earnings (loss) per share   

The basic earnings per share of 16.4 pence per share for the 2004 financial year compares with 31.2 pence for the 2003 financial year and 12.0 pence for the 2002 financial year. The following table illustrates the impact of the group’s discontinued activities up to the date of demerger or sale for the 2002 financial year, as well as significant exceptional items and goodwill amortisation on the basic earnings per share for the past three financial years:

2004
pence
2003
pence
2002
pence






Basic earnings per share before goodwill amortisation and exceptional items from continuing activities 16.9 14.2 8.8
Exceptional items and goodwill amortisation from continuing activities (0.5 ) 17.0 (43.6 )






Basic earnings (loss) per share from continuing activities 16.4 31.2 (34.8 )
Basic earnings per share from discontinued activities 46.8






Total basic earnings per share 16.4 31.2 12.0






Basic earnings per share before goodwill amortisation and exceptional items, from BT’s continuing activities of 16.9 pence for the 2004 financial year compare with an equivalent of 14.2 pence and 8.8 pence for the 2003 and 2002 financial years, respectively.
     Diluted earnings per share were not materially different in all three years.

 

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