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  Financial review: Return on capital employed

The group made a return from continuing activities before goodwill amortisation and exceptional items of 15.7% on the average capital employed in its business excluding mmO2 and goodwill, on a historical cost basis, in the 2002 financial year. In the 2001 and 2000 financial years, the group made a return on all activities of 14.9% and 18.2%, respectively.

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