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 Home >> Five-year financial summary

Five-year financial summary
Profit and loss account spacer   spacer   spacer   spacer   spacer  
1999 2000 2001 2002 2003  
Years ended 31 March £m £m £m £m £m   
Total turnover:  
      Continuing activities 16,186   18,228   21,068   21,815   20,182  
      Discontinued activities 2,037   3,675   8,598   2,827   –  
18,223 21,903 29,666 24,642 20,182  
Group’s share of associates’ and joint ventures’ turnover (1,270 ) (3,364 ) (9,937 ) (4,764 ) (1,455 )
Trading between group and principal joint venture – 176 698 681 –  
Group turnover:  
      Continuing activities 15,197   16,125   17,141   18,447   18,727  
      Discontinued activities 1,756   2,590   3,286   2,112   –  
16,953 18,715 20,427 20,559 18,727  
   Other operating income 157 216 359 362 215  
   Operating costsab (13,305 ) (15,359 ) (20,759 ) (21,400 ) (16,370 )
Group operating profit (loss):  
      Before goodwill amortisation and exceptional items 3,874   3,772   3,257   2,580   2,790  
      Goodwill amortisation and exceptional items (69 ) (200 ) (3,230 ) (3,059 ) (218 )
3,805 3,572 27 (479 ) 2,572  
Group’s share of operating profit (loss) of associates and  
      joint venturesc (342 ) (400 ) (397 ) (1,381 ) 329  
Total operating profit (loss):  
      Continuing activities 3,230   3,143   2,456   (1,489 ) 2,901  
      Discontinued activities 233   29   (2,826 ) (371 ) –  
3,463 3,172 (370 ) (1,860 ) 2,901  
 
Profit on sale of fixed asset investments and group undertakingsd 1,107 126 619 4,389 1,691  
Profit on sale of property fixed assets 11 26 34 1,089 11  
Amounts written off investments – – – (535 ) (7 )
Net interest payablee (286 ) (382 ) (1,314 ) (1,622 ) (1,439 )
Profit (loss) on ordinary activities before taxation:  
      Before goodwill amortisation and exceptional items 3,274   3,100   2,072   1,113   1,829  
      Goodwill amortisation and exceptional items 1,021   (158 ) (3,103 ) 348   1,328  
4,295 2,942 (1,031 ) 1,461 3,157  
Tax on profit (loss) on ordinary activities (1,323 ) (957 ) (712 ) (443 ) (459 )
Profit (loss) on ordinary activities after taxation 2,972 1,985 (1,743 ) 1,018 2,698  
Minority interests (19 ) 10 (127 ) (23 ) (12 )
Profit (loss) for the financial year 2,953 1,995 (1,870 ) 995 2,686  
Average number of shares used in basic earnings per share (millions) 7,183 7,235 7,276 8,307 8,616  
Basic earnings (loss) per share  41.1 p 27.6 p (25.7 )p 12.0 p 31.2 p
Diluted earnings (loss) per share  40.2 p 26.9 p (25.7 )p 11.9 p 31.0 p
Basic earnings (loss) per share from continuing activities  40.5 p 29.2 p 20.7 p (34.8 )p 31.2 p
Diluted earnings (loss) per share from continuing activities  39.5 p 28.5 p 20.4 p (34.8 )p 31.0 p
Dividends per share  18.3 p 19.6 p 7.8 p 2.0 p 6.5 p
Dividends per share, centsf  38.5 c 35.7 c 14.0 c 3.1 c 10.3 c
Basic earnings per share before goodwill amortisation and  
      exceptional items 30.7 p 29.8 p 17.5 p 6.1 p 14.2 p
Diluted earnings per share before goodwill amortisation and  
      exceptional items 30.0 p 29.1 p 17.3 p 6.0 p 14.1 p
Basic earnings per share before goodwill amortisation and  
      exceptional items on continuing activities 30.3 p 29.5 p 19.3 p 8.8 p 14.2 p
a Operating costs include net exceptional costs 69 111 2,857 2,707 198  
b Includes redundancy and early leaver costs 124 59 118 252 276  
c Group’s share of operating profit (loss) of associates and joint ventures  
   includes exceptional costs (release) – – 332 1,294 (150 )
d Including gain on MCI shares sold in 1999 1,133 – – – –  
e Net interest payable includes exceptional costs (credits) – – (25 ) 162 293  
f Based on actual dividend paid and/or year end exchange rate on proposed dividends  


Cash flow statement spacer   spacer   spacer   spacer   spacer  
1999
  
2000
  
2001
  
2002
  
2003
  
Years ended 31 March
£m
  
£m
  
£m
  
£m
  
£m
  
Net cash flow from operating activities
6,035
  
5,849
  
5,887
  
5,257
  
6,023
  
Dividends from associates and joint ventures
2
  
5
  
10
  
2
  
6
  
Returns on investments and servicing of finance 
(328
 )
(163
 )
(727
 )
(1,695
 )
(1,506
 )
Taxation paid 
(630
 )
(1,311
 )
(669
 )
(562
 )
(434
 )
Capital expenditure and financial investment
1,046
  
(3,752
 )
(8,442
 )
(1,354
 )
(2,381
 )
Acquisitions and disposals
(1,967
 )
(6,405
 )
(13,754
 )
5,785
  
2,842
  
Equity dividends paid
(1,186
 )
(1,364
 )
(1,432
 )
–
  
(367
 )
Cash inflow (outflow) before management of liquid resources and
 
 
 
 
 
   financing
2,972
  
(7,141
 )
(19,127
 )
7,433
  
4,183
  
Management of liquid resources
(2,447
 )
1,236
  
(480
 )
(1,864
 )
(1,729
 )
Financing
(458
 )
5,959
  
19,735
  
(5,479
 )
(2,473
 )
Increase (decrease) in cash in the year
67
  
54
  
128
  
90
  
(19
 )
Decrease (increase) in net debt in the year
3,146
  
(6,582
 )
(18,942
 )
13,930
  
4,225
  
 
 
 
 
 
 
Balance sheet
 
 
 
 
 
 
1999
2000
2001
2002
  
2003
  
At 31 March
£m
  
£m
  
£m
  
£m
  
£m
  
Intangible fixed assets
742
  
5,777
  
18,380
  
252
  
218
  
Tangible fixed assets
17,854
  
18,163
  
21,625
  
16,078
  
15,888
  
Fixed asset investments
1,832
  
5,878
  
5,204
  
1,221
  
555
  
Net current assets (liabilities)
(495
 )
(7,115
 )
(11,143
 )
732
  
1,876
  
Total assets less current liabilities
19,933
  
22,703
  
34,066
  
18,283
  
18,537
  
Loans and other borrowings falling due after one year
(3,386
 )
(5,354
 )
(18,775
 )
(16,245
 )
(13,456
 )
Provisions for liabilities and charges
(3,286
 )
(3,011
 )
(2,738
 )
(2,324
 )
(2,376
 )
Minority interests
(216
 )
(498
 )
(499
 )
(72
 )
(63
 )
Total assets less liabilities
13,045
  
13,840
  
12,054
  
(358
 )
2,642
  
Called up share capital
7,438
  
7,485
  
7,573
  
434
  
434
  
Share premium account
–
  
–
  
–
  
2
  
2
  
Other reserves
(3,841
 )
(3,345
 )
(2,848
 )
1,025
  
998
  
Profit and loss account
9,448
  
9,700
  
7,329
  
(1,819
 )
1,208
  
Total equity shareholders’ funds (deficiency)
13,045
  
13,840
  
12,054
  
(358
 )
2,642
  
Total assets
27,962
  
37,588
  
54,799
  
27,673
  
28,217
  
 
 
 
 
 
 
US GAAP
 
 
 
 
 
1999
  
2000
  
2001
  
2002
  
2003
  
Years ended 31 March
£m
  
£m
  
£m
  
£m
  
£m
  
Group operating profit (loss)
3,356
  
2,990
  
(633
 )
(337
 )
2,693
  
Income (loss) before taxes
3,745
  
2,096
  
(1,959
 )
1,025
  
3,653
  
Net income (loss):
 
 
 
 
 
   Continuing activities
2,562
  
1,559
  
809
  
(1,680
 )
4,134
  
   Discontinued activities
27
  
(166
 )
(3,166
 )
948
  
–
  
2,589
  
1,393
  
(2,357
 )
(732
 )
4,134
  
Average number of ADSs used in basic earnings per ADS (millions)
718
  
724
  
728
  
831
  
862
  
Basic earnings (loss) per ordinary share 
36.0
 p
19.3
 p
(32.4
 )p
(8.8
 )p
48.0
 p
Diluted earnings (loss) per ordinary share 
35.2
 p
18.8
 p
(32.4
 )p
(8.8
 )p
47.7
 p
Basic earnings (loss) per ordinary share from continuing activities 
35.7
 p
21.5
 p
11.1
 p
(20.2
 )p
48.0
 p
Diluted earnings (loss) per ordinary share from continuing activities 
34.9
 p
21.1
 p
11.0
 p
(20.2
 )p
47.7
 p
Basic earnings (loss) per ordinary share from discontinued activities
0.3
 p
(2.2
 )p
(43.5
 )p
11.4
 p
–
  
Diluted earnings (loss) per ordinary share from discontinued activities
0.3
 p
(2.3
 )p
(43.5
 )p
11.3
 p
–
  
Basic earnings (loss) per ADS
£3.60
  
£1.93
  
£(3.24
 )
£(0.88
 )
£4.80
  
Diluted earnings (loss) per ADS
£3.52
  
£1.88
  
£(3.24
 )
£(0.88
 )
£4.77
  
Total assets as at 31 March
29,323
  
38,481
  
55,361
  
30,428
  
31,131
  
Ordinary shareholders’ equity (deficiency) as at 31 March
13,674
  
13,634
  
10,231
  
(4,247
 )
(2,258
 )

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