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Financial statistics
Years ended 31 March

      2001     2002     2003     2004     2005  

 
Financial ratios
                               
Basic earnings per share on continuing activities before goodwill amortisation and exceptional items – pencea
    19.2     9.0     14.4     16.9     18.1  
Basic earnings (loss) per share on continuing activities – pencea
    20.6     (34.6 )   31.4     16.4     21.4  
Basic earnings (loss) per share – pencea
    (25.8 )   12.1     31.4     16.4     21.4  
Return on capital employed %bc
    14.9     6.6     15.5     15.1 d   15.5 d
Interest covere
    2.6     0.6     2.0     3.0 f   3.5 f

 
a
Restated following adoption of UITF 17 and UITF 38 (see note 1).
b
The ratio is based on profit before tax, goodwill amortisation and interest on long-term borrowings, to average capital employed. Capital employed is represented by total assets, excluding goodwill, less current liabilities, excluding corporate taxes and dividends payable, and provisions other than those for deferred taxation. Year-end figures are used in the computation of the average, except in the case of short-term investments and borrowings where average daily balances are used in their place.
c
Return on capital employed is based upon the continuing activities.
d
Return on capital employed before goodwill amortisation and exceptional items was 16.0% (2004 – 15.3%).
e
The number of times net interest payable is covered by total operating profit before goodwill amortisation.
f
Interest cover before goodwill amortisation and exceptional items was 3.6 times (2004 – 3.3 times).
 

      2001
£m
    2002
£m
    2003
£m
    2004
£m
    2005
£m
 

 
Expenditure on research and development
                             
Total expenditure
    364     362     380     334     257  

 

      2001
£m
    2002
£m
    2003
£m
    2004
£m
    2005
£m
 

 
Expenditure on tangible fixed assets
                               
Plant and equipment
                               
Transmission equipment
    1,655     1,373     1,277     1,324     1,488  
Exchange equipment
    478     428     228     150     143  
Other network equipment
    918     694     466     585     648  
Computers and office equipment
    407     273     281     205     312  
Motor vehicles and other
    231     189     162     316     349  
Land and buildings
    171     153     40     73     64  

 
      3,860     3,110     2,454     2,653     3,004  
Increase (decrease) in engineering stores
    (3 )   (10 )   (9 )   20     7  

 
Total continuing activities
    3,857     3,100     2,445     2,673     3,011  
Total discontinued activities
    1,129     808              

 
Total expenditure on tangible fixed assets
    4,986     3,908     2,445     2,673     3,011  
(Increase) decrease in creditors
    (230 )   161     135     11     45  

 
Cash outflow on purchase of tangible fixed assets
    4,756     4,069     2,580     2,684     3,056  

 
   
Financial statistics have been restated where necessary to provide consistency with the presentation of the 2005 financial year figures.
 

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