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Total operating profit
before goodwill amortisation and exceptional items for the 2005
financial year of £2,864 million was 1% lower than in the
2004 financial year which in turn was 3% lower than the previous
financial year. The movement in total operating profit was due to
the factors explained above.
Total
operating profit for the 2005 financial year was £2,764 million,
including BT’s share of the operating results of its associates
and joint ventures. This compared to £2,836 million for the
2004 financial year and £2,905 million for the 2003 financial
year. The reduction in total operating profit reflects the reduction
in associates’ and joint ventures’ profits offset by cost
efficiency savings, the strong performance of BT Global Services
and lower leaver costs. |
