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  Financial review: Total operating profit (loss)

Total operating profit from continuing activities before goodwill amortisation and exceptional items for the 2002 financial year was 9% lower than that in the 2001 financial year which in turn was 11% lower than the previous financial year. The decline in the underlying total operating profit was due to the factors explained by following this link.

Total operating loss for the 2002 financial year was £1,860 million, including BT's share of the operating results of its ventures. This increased loss of £1,490 million against the 2001 financial year reflects the reduced operating profit from continuing activities including the exceptional charges and is offset by the reduced losses in discontinued activities. The loss for the 2001 financial year compared with a profit of £3,172 million for the 2000 financial year principally due to the £3,200 million goodwill impairment charges.
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