2002 £m	2001 £m	2000 £m
Share of turnover
Continuing activities	4,049)	4,625)	2,279)
Discontinued activities	715)	5,312)	1,085)
Total	4,764)	9,937)	3,364)
Share of operating profit (loss) before exceptional items and goodwill amortisation
Continuing activities	(108)	(157)	(156)
Discontinued activities	74)	277)	(160)
Total	(34)	120)	(316)

After the disposals in the 2001 and 2002 financial years, BT's share of its ventures' turnover fell to £4,764 million in the 2002 financial year from £9,937 million in the 2001 financial year. The growth in the 2001 financial year was due to our establishment and acquisition of interests in ventures in North America, Europe and Asia Pacific, many of which have now been sold, terminated or unwound. Acquisitions of interests contributed £6,133 million of the growth in the 2001 financial year. In the 2002 financial year, £4,618 million of the total arose from ventures located outside the UK, compared with £9,677 million in the 2001 financial year and £3,164 million in the 2000 financial year.

The principal contributors to turnover from continuing activities in the 2002 financial year were Concert (£2,158 million), Cegetel in France (£1,068 million) and LG Telecom in Korea (£240 million). The principal contributors to turnover in the 2001 financial year were Concert (£2,576 million), Cegetel (£860 million) and LG Telecom (£281 million). The main contributors in the 2000 financial year were Cegetel (£727 million), Concert (£583 million from January 2000) and a full year's contribution from LG Telecom (£200 million).

The principal contributors to turnover from discontinued activities in the 2002 financial year were Japan Telecom and J-Phone (£559 million to June 2001) and Airtel (£76 million to June 2001). The principal contributors to turnover from discontinued activities in the 2001 financial year were Japan Telecom and J-Phone (£4,542 million), and Airtel (£286 million). The main contributors in the 2000 financial year were Japan Telecom (£501 million from September 1999), and Airtel (£250 million).

The group's share of its ventures' operating losses from continuing activities totalled £108 million in the 2002 financial year, before £1,335 million goodwill amortisation and exceptional items. The comparable losses, before goodwill amortisation and exceptional items, amounted to £157 million and £156 million in the 2001 and 2000 financial years, respectively.

The principal contributor to the group's share of operating losses from continuing activities before goodwill amortisation and exceptional items in the 2002 financial year was Concert (£225 million) offset by profits from Cegetel (£168 million). In the 2001 financial year Concert reported profits of £19 million and Cegetel of £90 million, offset by losses in other ventures. The main contributors to the loss in the 2000 financial year was BiB (British Interactive Broadcasting) (£89 million) offset by profits from Concert (£69 million from January 2000) and Cegetel (£30 million).

Exceptional items within the operating profits from ventures are as follows:

	2002 £m	2001 £m	2000 £m
Impairment of Concert	806	-	-
Concert unwind costs	81	-	-
Impairment of investments and related exit costs	234	-	-
Goodwill impairment	173	200	-
Subscriber acquisition costs	-	96	-
Total attributable to continuing activities	1,294	296	-
Total attributable to discontinued activities	-	36	-
Total exceptional operating costs	1,294	332	-

Concert's performance was a cause of concern in 2001 and in October 2001 BT and AT&T announced the unwind of Concert which was subsequently completed on 1 April 2002. On completion, the businesses, customer accounts and networks returned to the two parent companies with BT and AT&T each taking ownership of substantially those parts of Concert originally contributed by them. The working capital and other liabilities of Concert on completion were divided equally between BT and AT&T with the exception that BT receives an additional US$400 million reflecting the allocation of the businesses. Of this, US$50 million was received before 31 March 2002, US$161 million has subsequently been received and the balance is expected to be received in autumn 2002.

BT and AT&T have also, at completion, terminated their Canadian joint venture agreement under which BT was committed to participate in AT&T's future obligation to acquire all of the publicly traded shares of AT&T Canada. AT&T has taken full ownership of BT's interest in the Canadian joint venture and in AT&T Canada, and has now assumed full responsibility for all future obligations of the joint venture. BT has now ceased to have any interest in AT&T Canada, and has been released from its future expenditure commitment associated with AT&T Canada.

As a result, BT has written down the carrying value of its investments in both Concert and AT&T Canada in the 2002 financial year. The exceptional impairment charge of £1,153 million against these investments comprises Concert goodwill impairment of £260 million, Concert tangible fixed asset write-downs of £546 million and the write off of BT's £347 million interest in AT&T Canada (included within amounts written off investments).

BT has recognised exceptional restructuring charges of £81 million for its share of redundancy and other unwind costs in Concert and BT's own unwind costs of £172 million have been charged against group operating costs in the 2002 financial year.

The value of BT's investments has been reviewed in the light of the rapidly changing global telecoms market conditions. In addition we have estimated the costs to exit certain investments. Exceptional impairment charges and related exit costs totalling £407 million, principally relate to goodwill and asset impairments in Blu and SmarTone.

In the 2001 financial year there was an exceptional write off of previously capitalised costs in certain non-UK operations related to deferred subscriber acquisition costs in the ventures. In addition goodwill in Asian ventures became impaired and an exceptional impairment charge of £200 million was recognised.

Goodwill amortisation had been increasing as a result of new acquisitions in ventures. In the 2001 financial year, the charge totalled £185 million compared with £84 million in the 2000 financial year. This trend has not continued in the 2002 financial year because we have not made any major acquisitions of interests in ventures since May 2000, the effect of the goodwill impairment in the 2001 financial year of £200 million and we have now sold or acquired control of many of these ventures. Goodwill amortisation in the 2002 financial year amounted to £53 million.