BTPLC Annual Report 2005 - Financial review - Profit (loss) before taxation

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Profit (loss) before taxation

The group’s profit before taxation for the 2005 financial year was £2,343 million, compared with a profit of £1,945 million in the 2004 financial year and a profit of £3,173 million in the 2003 financial year. The profit in the 2003 financial year included the exceptional profits from the sale of investments and businesses totalling £1,696 million.
The group’s profit before taxation, before goodwill amortisation and exceptional items for the 2005 financial year was £2,085 million, compared with £2,013 million in the 2004 financial year and £1,840 million in the 2003 financial year. The improvement in the underlying profit was due to cost efficiency savings, the strong performance of BT Global Services, lower leaver costs and the lower interest charges explained above.

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