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This
graph illustrates, as required by the Directors’
Remuneration Report Regulations 2002, the performance
of BT Group plc measured by TSR (adjusted for the rights
issue and the demerger of BT’s mobile business
in the 2002 financial year) relative to a ‘broad
equity market index’ over the past five years.
The FTSE 100 is considered to be the most appropriate
index against which to measure performance, as BT has
been a constituent of the FTSE 100 throughout the five-year
period and the index is widely used. TSR is the measure
of the returns that a company has provided for its shareholders,
reflecting share price movements and assuming reinvestment
of dividends.
1
April 1998=100. Source: Datastream
The graph shows our TSR performance (adjusted for the
rights issue and demerger of our mobile business in
the 2002 financial year) relative to the FTSE 100.
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