|
The
basic earnings (loss) per share are calculated by dividing
the profit for the financial year attributable to shareholders
by the weighted average number of shares in issue after
deducting the company’s shares held by employee
share ownership trusts.
In
calculating the diluted earnings (loss) per share, share
options outstanding and other potential ordinary shares
have been taken into account.
The
weighted average number of shares in the years were:
| |
2003 |
|
2002 |
|
2001 |
|
|
millions |
|
millions |
|
millions |
|
|
of
shares |
|
of
shares |
|
of
shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
8,616 |
|
8,307 |
|
7,276 |
|
Dilutive
ordinary shares from share options outstanding and
shares
held in trust |
52 |
|
70 |
|
107 |
|
|
|
|
|
|
|
|
| Total
diluted |
8,668 |
|
8,377 |
|
7,383 |
|
|
|
|
|
|
|
|
Options
over 177 million shares (2002 – 16 million, 2001
– nil) were excluded from the calculation of the
total diluted number of shares as they were anti-dilutive.
The
items in the calculation of earnings (loss) per share
before goodwill amortisation and exceptional items in
the years were:
|
2003 |
|
2002 |
|
2001 |
|
|
|
|
|
|
|
|
pence |
|
pence |
|
pence |
|
2003 |
|
2002 |
|
2001 |
|
|
per
share |
|
per
share |
|
per
share |
|
£m |
|
£m |
|
£m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
Attributable
to exceptional items and goodwill
amortisation from continuing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Property
rationalisation costs |
(2.3 |
) |
– |
|
– |
|
(198 |
) |
– |
|
– |
|
| Goodwill
impairment in subsidiary undertakings |
– |
|
(23.5 |
) |
(2.7 |
) |
– |
|
(1,955 |
) |
(200 |
) |
| Asset
impairment in subsidiary undertakings |
– |
|
(3.9 |
) |
– |
|
– |
|
(324 |
) |
– |
|
| Costs
relating to the Concert unwind |
– |
|
(3.0 |
) |
– |
|
– |
|
(253 |
) |
– |
|
| Costs
relating to the demerger of mmO2 |
– |
|
(1.2 |
) |
– |
|
– |
|
(98 |
) |
– |
|
| BT
Retail call centre rationalisation costs |
– |
|
(0.8 |
) |
– |
|
– |
|
(68 |
) |
– |
|
| BT
Wholesale bad debts costs |
– |
|
(0.9 |
) |
– |
|
– |
|
(79 |
) |
– |
|
| Rates
refunds relating to prior years |
– |
|
– |
|
2.7 |
|
– |
|
– |
|
193 |
|
| Write
off of subscriber acquisition costs |
– |
|
– |
|
(1.3 |
) |
– |
|
– |
|
(96 |
) |
| Goodwill
impairment in associates and joint ventures |
– |
|
(5.2 |
) |
(2.7 |
) |
– |
|
(433 |
) |
(200 |
) |
Impairment
of investment in associates
and joint ventures and release (charge)
for related exit costs |
1.8 |
|
(9.4 |
) |
– |
|
150 |
|
(780 |
) |
– |
|
| Profit
on sale of fixed asset investments |
19.8 |
|
2.0 |
|
7.3 |
|
1,700 |
|
169 |
|
534 |
|
| (Loss)
profit on sale of group undertakings |
(0.1 |
) |
(1.8 |
) |
1.2 |
|
(9 |
) |
(148 |
) |
84 |
|
| Profit
on sale of property fixed assets |
– |
|
12.8 |
|
– |
|
– |
|
1,062 |
|
– |
|
| Amounts
written off investments |
– |
|
(6.4 |
) |
– |
|
– |
|
(535 |
) |
– |
|
| Finance
cost of novating interest rate swaps |
(3.4 |
) |
(2.0 |
) |
– |
|
(293 |
) |
(162 |
) |
– |
|
Interest
receivable on rates refunds, relating
to prior years |
– |
|
– |
|
0.3 |
|
– |
|
– |
|
25 |
|
| Goodwill
amortisation |
(0.3 |
) |
(2.0 |
) |
(2.4 |
) |
(22 |
) |
(162 |
) |
(166 |
) |
| Tax
credit (charge) |
1.6 |
|
1.7 |
|
(0.7 |
) |
139 |
|
143 |
|
(47 |
) |
| Minority
interest |
(0.1 |
) |
– |
|
(0.3 |
) |
(7 |
) |
– |
|
(21 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
credit (charge) attributable to exceptional
items and goodwill amortisation from
continuing activities |
17.0 |
|
(43.6 |
) |
1.4 |
|
1,460 |
|
(3,623 |
) |
106 |
|
| Attributable
to discontinued activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Costs
relating to the demerger of mmO2 |
– |
|
(0.1 |
) |
– |
|
– |
|
(11 |
) |
– |
|
| Goodwill
impairment in subsidiary undertakings |
– |
|
– |
|
(38.5 |
) |
– |
|
– |
|
(2,800 |
) |
| Write
off of Viag Interkom IT Systems |
– |
|
– |
|
(0.6 |
) |
– |
|
– |
|
(43 |
) |
| Write
off of subscriber acquisition costs |
– |
|
– |
|
(0.6 |
) |
– |
|
– |
|
(43 |
) |
| Profit
on sale of group undertakings |
– |
|
14.0 |
|
– |
|
– |
|
1,160 |
|
– |
|
| Profit
on sale of fixed asset investments |
– |
|
38.6 |
|
– |
|
– |
|
3,208 |
|
1 |
|
| Goodwill
amortisation |
– |
|
(3.0 |
) |
(5.3 |
) |
– |
|
(243 |
) |
(392 |
) |
| Tax
credit |
– |
|
– |
|
0.4 |
|
– |
|
– |
|
25 |
|
Results
of discontinued activities before goodwill
amortisation and exceptional items after
tax
and minority interest |
– |
|
(2.7 |
) |
(1.8 |
) |
– |
|
(231 |
) |
(125 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
credit (charge) attributable to discontinued
activities |
– |
|
46.8 |
|
(46.4 |
) |
– |
|
3,883 |
|
(3,377 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
earnings (loss) per share/profit (loss) for
the financial year after goodwill amortisation
and exceptional items |
31.2 |
|
12.0 |
|
(25.7 |
) |
2,686 |
|
995 |
|
(1,870 |
) |
Less:
Basic earnings (loss) per share/profit
(loss) for the financial year attributable
to
discontinued activities |
– |
|
46.8 |
|
(46.4 |
) |
– |
|
3,883 |
|
(3,377 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
earnings (loss) per share/profit (loss) for
the financial year before discontinued
activities |
31.2 |
|
(34.8 |
) |
20.7 |
|
2,686 |
|
(2,888 |
) |
1,507 |
|
Less:
Basic earnings (loss) per share/profit
(loss) for the financial year attributable
to
exceptional items and goodwill amortisation
from continuing activities |
17.0 |
|
(43.6 |
) |
1.4 |
|
1,460 |
|
(3,623 |
) |
106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
earnings per share/profit for the financial
year from continuing activities before
goodwill
amortisation and exceptional items |
14.2 |
|
8.8 |
|
19.3 |
|
1,226 |
|
735 |
|
1,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
per share before goodwill amortisation and exceptional
items are provided to help readers evaluate the performance
of the group.
|
