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Profit and loss account
 
Years ended 31 March
    2001
£m
a   2002
£m
a   2003
£m
a   2004
£m
a   2005
£m
 

 
Total turnover:
                               
Continuing activities
    21,068     21,815     20,182     18,914     19,031  
Discontinued activities
    8,598     2,827              
      29,666     24,642     20,182     18,914     19,031  
Group’s share of associates’ and joint ventures’ turnover
    (9,937 )   (4,764 )   (1,455 )   (395 )   (408 )
Trading between group and principal joint venture
    698     681              

 
Group turnover:
                               
Continuing activities
    17,141     18,447     18,727     18,519     18,623  
Discontinued activities
    3,286     2,112              
      20,427     20,559     18,727     18,519     18,623  
Other operating income
    359     362     215     177     171  
Operating costsbc
    (20,764 )   (21,387 )   (16,366 )   (15,826 )   (16,005 )

 
Group operating profit (loss):
                               
Before goodwill amortisation and exceptional items
    3,252     2,593     2,794     2,889     2,864  
Goodwill amortisation and exceptional items
    (3,230 )   (3,059 )   (218 )   (19 )   (75 )
      22     (466 )   2,576     2,870     2,789  
Group’s share of operating profit (loss) of associates and joint venturesd
    (397 )   (1,381 )   329     (34 )   (25 )

 
Total operating profit (loss):
                               
Continuing activities
    2,451     (1,476 )   2,905     2,836     2,764  
Discontinued activities
    (2,826 )   (371 )            
      (375 )   (1,847 )   2,905     2,836     2,764  
                                 
Profit on sale of fixed asset investments and group undertakings
    619     4,389     1,696     36     358  
Profit on sale of property fixed assets
    34     1,089     11     14     22  
Amounts written off investments
        (535 )            
Net interest payablee
    (1,314 )   (1,622 )   (1,439 )   (941 )   (801 )

 
Profit (loss) on ordinary activities before taxation:
                               
Before goodwill amortisation and exceptional items
    2,067     1,126     1,840     2,013     2,085  
Goodwill amortisation and exceptional items
    (3,103 )   348     1,333     (68 )   258  
      (1,036 )   1,474     3,173     1,945     2,343  
Tax on profit (loss) on ordinary activitiesf
    (712 )   (443 )   (459 )   (539 )   (523 )

 
Profit (loss) on ordinary activities after taxation
    (1,748 )   1,031     2,714     1,406     1,820  
Minority interests
    (127 )   (23 )   (12 )   8     1  

 
Profit (loss) for the financial year
    (1,875 )   1,008     2,702     1,414     1,821  

 
Average number of shares used in basic earnings per share (millions)
    7,276     8,307     8,616     8,621     8,524  
Basic earnings (loss) per share
    (25.8 )p   12.1 p   31.4 p   16.4 p   21.4 p
Diluted earnings (loss) per share
    (25.8 )p   12.0 p   31.2 p   16.3 p   21.2 p
Basic earnings (loss) per share from continuing activities
    20.6 p   (34.6 )p   31.4 p   16.4 p   21.4 p
Diluted earnings (loss) per share from continuing activities
    20.3 p   (34.6 )p   31.2 p   16.3 p   21.2 p
Dividends per share
    7.8 p   2.0 p   6.5 p   8.5 p   10.4 p
Dividends per share, centsg
    14.0 c   3.1 c   10.3 c   15.3 c   19.5 c

 
Basic earnings per share before goodwill amortisation and
exceptional items
    17.5 p   6.2 p   14.4 p   16.9 p   18.1 p
Diluted earnings per share before goodwill amortisation and
exceptional items
    17.2 p   6.2 p   14.3 p   16.8 p   18.0 p
Basic earnings per share before goodwill amortisation and
exceptional items on continuing activities
    19.2 p   9.0 p   14.4 p   16.9 p   18.1 p

 
aRestated following adoption of UITF17 and UITF38 (see note 1)
                               
bOperating costs include net exceptional costs
    2,857     2,707     198     7     59  
cIncludes redundancy and early leaver costs
    118     252     276     202     166  
dGroup’s share of operating profit (loss) of associates and joint ventures includes exceptional costs (release)
    332     1,294     (150 )   26     25  
eNet interest payable includes exceptional costs (credits)
    (25 )   162     293     55      
fIncludes exceptional tax charge (credit)
    22     (143 )   (139 )   (29 )   (16 )
gBased on actual dividends paid and/or year end exchange rate on proposed dividends
                               

Cash flow statement
 
Years ended 31 March
    2001
£m
    2002
£m
    2003
£m
    2004
£m
    2005
£m
 

 
Net cash flow from operating activities
    5,887     5,257     6,023     5,389     5,898  
Dividends from associates and joint ventures
    10     2     6     3     2  
Returns on investments and servicing of finance
    (727 )   (1,695 )   (1,506 )   (527 )   (878 )
Taxation paid
    (669 )   (562 )   (434 )   (317 )   (332 )
Capital expenditure and financial investment
    (8,442 )   (1,354 )   (2,381 )   (2,477 )   (2,408 )
Acquisitions and disposals
    (13,754 )   5,785     2,842     (60 )   (418 )
Equity dividends paid
    (1,432 )       (367 )   (645 )   (784 )

 
Cash (outflow) inflow before management of liquid resources and financing
    (19,127 )   7,433     4,183     1,366     1,080  
Management of liquid resources
    (480 )   (1,864 )   (1,729 )   1,123     587  
Financing
    19,735     (5,479 )   (2,473 )   (2,445 )   (1,485 )

 
Increase (decrease) in cash in the year
    128     90     (19 )   44     182  

 
(Increase) decrease in net debt in the year resulting from cash flows
    (18,942 )   13,930     4,225     1,222     887  

 

 
Balance sheet
 
At 31 March
    2001
£m
a   2002
£m
a   2003
£m
a   2004
£m
a   2005
£m
 

 
Intangible fixed assets
    18,380     252     218     204     623  
Tangible fixed assets
    21,625     16,078     15,888     15,487     15,916  
Fixed asset investments
    5,107     1,044     457     324     115  
Net current assets (liabilities)
    (11,111 )   757     1,913     2,027     (2,165 )

 
Total assets less current liabilities
    34,001     18,131     18,476     18,042     14,489  
Loans and other borrowings falling due after one year
    (18,775 )   (16,245 )   (13,456 )   (12,426 )   (8,091 )
Provisions for liabilities and charges
    (2,738 )   (2,324 )   (2,376 )   (2,504 )   (2,497 )
Minority interests
    (499 )   (72 )   (63 )   (46 )   (50 )

 
Total assets less liabilities
    11,989     (510 )   2,581     3,066     3,851  

 
Called up share capital
    7,573     434     434     432     432  
Share premium account
        2     2     2     3  
Capital redemption reserve
                2     2  
Other reserves
    (2,848 )   1,025     998     998     998  
Profit and loss account
    7,264     (1,971 )   1,147     1,632     2,416  

 
Total equity shareholders’ funds (deficiency)
    11,989     (510 )   2,581     3,066     3,851  

 
Total assets
    54,702     27,496     28,119     26,565     26,950  

 
a
Restated following adoption of UITF17 and UITF38 (see note 1)

US GAAP

Years ended 31 March
    2001
£m
    2002
£m
    2003
£m
    2004
£m
    2005
£m
 

 
Group operating profit (loss)
    (633 )   (337 )   2,693     2,420     2,779  
Income (loss) before taxes
    (1,959 )   1,025     3,653     1,188     1,576  
Net income (loss):
                               
Continuing activities
    809     (1,680 )   4,134     883     1,297  
Discontinued activities
    (3,166 )   948              
      (2,357 )   (732 )   4,134     883     1,297  

 
Basic earnings (loss) per ordinary share
    (32.4 )p   (8.8 )p   48.0 p   10.2 p   15.2 p
Diluted earnings (loss) per ordinary share
    (32.4 )p   (8.8 )p   47.7 p   10.2 p   15.1 p
Basic earnings (loss) per ordinary share from continuing activities
    11.1 p   (20.2 )p   48.0 p   10.2 p   15.2 p
Diluted earnings (loss) per ordinary share from continuing activities
    11.0 p   (20.2 )p   47.7 p   10.2 p   15.1 p
Basic (loss) earnings per ordinary share from discontinued activities
    (43.5 )p   11.4 p            
Diluted (loss) earnings per ordinary share from discontinued activities
    (43.5 )p   11.3 p            
Average number of ADSs used in basic earnings per ADS (millions)
    728     831     862     862     852  
Basic earnings (loss) per ADS
    £(3.24 )   £(0.88 )   £4.80     £1.02     £1.52  
Diluted earnings (loss) per ADS
    £(3.24 )   £(0.88 )   £4.77     £1.02     £1.51  

 
Total assets as at 31 March
    55,361     30,428     31,131     28,674     29,006  
Ordinary shareholders’ equity (deficiency) as at 31 March
    10,231     (4,247 )   (2,258 )   (1,455 )   (584 )

 
 

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