Five-year financial summary
|
| Profit
and loss account |
 |
|
 |
|
 |
|
 |
|
 |
|
|
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 |
|
| Groups
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 |
|
| Groups
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
Groups
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 |
 |
|
 |
|
 |
|
 |
|
 |
|
|
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
| | |