|
|
Profit and
loss account
|
|
|
|
|
|
|
|
|
|
|
| |
2000 |
|
2001 |
|
2002 |
|
2003 |
|
2004 |
|
|
Years ended 31 March
| £m
|
| £m
|
| £m
|
| £m
|
| £m
| |
|
|
|
|
|
|
|
|
|
|
|
| Total turnover: |
|
|
|
|
|
|
|
|
|
|
| Continuing
activities |
18,228 |
|
21,068 |
|
21,815 |
|
20,182 |
|
18,914 |
|
| Discontinued
activities |
3,675 |
|
8,598 |
|
2,827 |
|
– |
|
– |
|
| |
21,903 |
|
29,666 |
|
24,642 |
|
20,182 |
|
18,914 |
|
| Group’s share of associates’ and joint
ventures’ turnover |
(3,364 |
) |
(9,937 |
) |
(4,764 |
) |
(1,455 |
) |
(395 |
) |
| Trading between group and principal joint
venture |
176 |
|
698 |
|
681 |
|
– |
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
| Group turnover: |
|
|
|
|
|
|
|
|
|
|
| Continuing
activities |
16,125 |
|
17,141 |
|
18,447 |
|
18,727 |
|
18,519 |
|
| Discontinued
activities |
2,590 |
|
3,286 |
|
2,112 |
|
– |
|
– |
|
| |
18,715 |
|
20,427 |
|
20,559 |
|
18,727 |
|
18,519 |
|
| Other operating income |
216 |
|
359 |
|
362 |
|
215 |
|
177 |
|
| Operating costsab |
(15,359 |
) |
(20,759 |
) |
(21,400 |
) |
(16,370 |
) |
(15,823 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Group operating profit (loss): |
|
|
|
|
|
|
|
|
|
|
Before
goodwill amortisation and
exceptional items |
3,772 |
|
3,257 |
|
2,580 |
|
2,790 |
|
2,892 |
|
| Goodwill
amortisation and exceptional items |
(200 |
) |
(3,230 |
) |
(3,059 |
) |
(218 |
) |
(19 |
) |
| |
3,572 |
|
27 |
|
(479 |
) |
2,572 |
|
2,873 |
|
| Group’s share of operating
profit (loss) of associates and joint
venturesc |
|
|
|
|
|
|
|
|
|
|
| (400 |
) |
(397 |
) |
(1,381 |
) |
329 |
|
(34 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Total operating profit (loss): |
|
|
|
|
|
|
|
|
|
|
| Continuing
activities |
3,143 |
|
2,456 |
|
(1,489 |
) |
2,901 |
|
2,839 |
|
| Discontinued
activities |
29 |
|
(2,826 |
) |
(371 |
) |
– |
|
– |
|
| |
3,172 |
|
(370 |
) |
(1,860 |
) |
2,901 |
|
2,839 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Profit on sale of fixed asset investments
and group undertakings |
126 |
|
619 |
|
4,389 |
|
1,691 |
|
36 |
|
| Profit on sale of property fixed assets |
26 |
|
34 |
|
1,089 |
|
11 |
|
14 |
|
| Amounts written off investments |
– |
|
– |
|
(535 |
) |
(7 |
) |
– |
|
| Net interest payabled |
(382 |
) |
(1,314 |
) |
(1,622 |
) |
(1,439 |
) |
(941 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Profit (loss) on ordinary activities
before taxation: |
|
|
|
|
|
|
|
|
|
|
Before
goodwill amortisation and
exceptional items |
3,100 |
|
2,072 |
|
1,113 |
|
1,829 |
|
2,016 |
|
| Goodwill
amortisation and exceptional items |
(158 |
) |
(3,103 |
) |
348 |
|
1,328 |
|
(68 |
) |
| |
2,942 |
|
(1,031 |
) |
1,461 |
|
3,157 |
|
1,948 |
|
| Tax on profit (loss) on ordinary
activitiese |
(957 |
) |
(712 |
) |
(443 |
) |
(459 |
) |
(539 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Profit (loss) on ordinary activities
after taxation |
1,985 |
|
(1,743 |
) |
1,018 |
|
2,698 |
|
1,409 |
|
| Minority interests |
10 |
|
(127 |
) |
(23 |
) |
(12 |
) |
8 |
|
|
|
|
|
|
|
|
|
|
|
|
| Profit (loss) for the financial year |
1,995 |
|
(1,870 |
) |
995 |
|
2,686 |
|
1,417 |
|
|
|
|
|
|
|
|
|
|
|
|
| Average number of shares used in basic
earnings per share (millions) |
7,235 |
|
7,276 |
|
8,307 |
|
8,616 |
|
8,621 |
|
| Basic earnings (loss) per share |
27.6 |
p |
(25.7 |
)p |
12.0 |
p |
31.2 |
p |
16.4 |
p |
| Diluted earnings (loss) per share |
26.9 |
p |
(25.7 |
)p |
11.9 |
p |
31.0 |
p |
16.3 |
p |
| Basic earnings (loss) per share from
continuing activities |
29.2 |
p |
20.7 |
p |
(34.8 |
)p |
31.2 |
p |
16.4 |
p |
| Diluted earnings (loss) per share from
continuing activities |
28.5 |
p |
20.4 |
p |
(34.8 |
)p |
31.0 |
p |
16.3 |
p |
| Dividends per share |
19.6 |
p |
7.8 |
p |
2.0 |
p |
6.5 |
p |
8.5 |
p |
| Dividends per share, centsf |
35.7 |
c |
14.0 |
c |
3.1 |
c |
10.3 |
c |
15.6 |
c |
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share
before goodwill amortisation and
exceptional items |
|
|
|
|
|
|
|
|
|
|
| 29.8 |
p |
17.5 |
p |
6.1 |
p |
14.2 |
p |
16.9 |
p |
| Diluted earnings per share
before goodwill amortisation and exceptional
items |
|
|
|
|
|
|
|
|
|
|
| 29.1 |
p |
17.3 |
p |
6.0 |
p |
14.1 |
p |
16.8 |
p |
| Basic earnings per share
before goodwill amortisation and exceptional
items on continuing activities |
|
|
|
|
|
|
|
|
|
|
| 29.5 |
p |
19.3 |
p |
8.8 |
p |
14.2 |
p |
16.9 |
p |
|
|
|
|
|
|
|
|
|
|
|
| a
|
Operating costs include net exceptional
costs |
111 |
|
2,857 |
|
2,707 |
|
198 |
|
7 |
|
| b
|
Includes redundancy and early leaver
costs |
59 |
|
118 |
|
252 |
|
276 |
|
202 |
|
| c |
Group’s share of operating profit
(loss) of associates and joint ventures includes
exceptional costs (release) |
– |
|
332 |
|
1,294 |
|
(150 |
) |
26 |
|
| d |
Net interest payable includes exceptional
costs (credits) |
– |
|
(25 |
) |
162 |
|
293 |
|
55 |
|
| e
|
Includes exceptional tax charge (credit) |
5 |
|
22 |
|
(143 |
) |
(139 |
) |
(29 |
) |
| f
|
Based on actual dividends
paid and/or year end exchange rate on
proposed dividends |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
Cash flow statement
|
|
|
|
|
|
|
|
|
|
|
| |
2000 |
|
2001 |
|
2002 |
|
2003 |
|
2004 |
|
|
Years ended 31 March
|
£m |
£m |
£m |
£m |
£m |
|
|
|
|
|
|
|
|
|
|
|
| Net cash flow from operating activities |
5,849 |
|
5,887 |
|
5,257 |
|
6,023 |
|
5,389 |
|
| Dividends from associates and joint
ventures |
5 |
|
10 |
|
2 |
|
6 |
|
3 |
|
| Returns on investments and servicing of
finance |
(163 |
) |
(727 |
) |
(1,695 |
) |
(1,506 |
) |
(527 |
) |
| Taxation paid |
(1,311 |
) |
(669 |
) |
(562 |
) |
(434 |
) |
(317 |
) |
| Capital expenditure and financial
investment |
(3,752 |
) |
(8,442 |
) |
(1,354 |
) |
(2,381 |
) |
(2,477 |
) |
| Acquisitions and disposals |
(6,405 |
) |
(13,754 |
) |
5,785 |
|
2,842 |
|
(60 |
) |
| Equity dividends paid |
(1,364 |
) |
(1,432 |
) |
– |
|
(367 |
) |
(645 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Cash (outflow) inflow before
management of liquid resources
and financing |
|
|
|
|
|
|
|
|
|
|
| (7,141 |
) |
(19,127 |
) |
7,433 |
|
4,183 |
|
1,366 |
|
| Management of liquid resources |
1,236 |
|
(480 |
) |
(1,864 |
) |
(1,729 |
) |
1,123 |
|
| Financing |
5,959 |
|
19,735 |
|
(5,479 |
) |
(2,473 |
) |
(2,445 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Increase (decrease) in cash in the year |
54 |
|
128 |
|
90 |
|
(19 |
) |
44 |
|
|
|
|
|
|
|
|
|
|
|
|
| (Increase) decrease in net debt in the
year |
(6,582 |
) |
(18,942 |
) |
13,930 |
|
4,225 |
|
1,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance sheet |
|
|
|
|
|
|
|
|
|
|
| |
2000 |
|
2001 |
|
2002 |
|
2003 |
|
2004 |
|
|
At 31 March
|
£m |
£m |
£m |
£m |
£m |
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible fixed assets |
5,777 |
|
18,380 |
|
252 |
|
218 |
|
204 |
|
| Tangible fixed assets |
18,163 |
|
21,625 |
|
16,078 |
|
15,888 |
|
15,487 |
|
| Fixed asset investments |
5,878 |
|
5,204 |
|
1,221 |
|
555 |
|
377 |
|
| Net current assets (liabilities) |
(7,115 |
) |
(11,143 |
) |
732 |
|
1,876 |
|
2,002 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets less current liabilities |
22,703 |
|
34,066 |
|
18,283 |
|
18,537 |
|
18,070 |
|
| Loans and other borrowings falling due
after one year |
(5,354 |
) |
(18,775 |
) |
(16,245 |
) |
(13,456 |
) |
(12,426 |
) |
| Provisions for liabilities and charges |
(3,011 |
) |
(2,738 |
) |
(2,324 |
) |
(2,376 |
) |
(2,504 |
) |
| Minority interests |
(498 |
) |
(499 |
) |
(72 |
) |
(63 |
) |
(46 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Total assets less liabilities |
13,840 |
|
12,054 |
|
(358 |
) |
2,642 |
|
3,094 |
|
|
|
|
|
|
|
|
|
|
|
|
| Called up share capital |
7,485 |
|
7,573 |
|
434 |
|
434 |
|
432 |
|
| Share premium account |
– |
|
– |
|
2 |
|
2 |
|
2 |
|
| Capital redemption reserve |
– |
|
– |
|
– |
|
– |
|
2 |
|
| Other reserves |
(3,345 |
) |
(2,848 |
) |
1,025 |
|
998 |
|
998 |
|
| Profit and loss account |
9,700 |
|
7,329 |
|
(1,819 |
) |
1,208 |
|
1,660 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total equity shareholders’ funds
(deficiency) |
13,840 |
|
12,054 |
|
(358 |
) |
2,642 |
|
3,094 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
37,588 |
|
54,799 |
|
27,673 |
|
28,217 |
|
26,618 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
