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Financial statistics
Years ended 31 March
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2001 |
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2002 |
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2003 |
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2004 |
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2005 |
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Financial ratios |
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Basic earnings per share on continuing activities before goodwill amortisation and exceptional items – pencea |
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19.2 |
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9.0 |
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14.4 |
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16.9 |
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18.1 |
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Basic earnings (loss) per share on continuing activities – pencea |
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20.6 |
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(34.6 |
) |
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31.4 |
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16.4 |
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21.4 |
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Basic earnings (loss) per share – pencea |
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(25.8 |
) |
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12.1 |
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31.4 |
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16.4 |
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21.4 |
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Return on capital employed %bc |
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14.9 |
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6.6 |
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15.5 |
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15.1 |
d |
|
15.5 |
d |
Interest covere |
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2.6 |
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0.6 |
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2.0 |
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3.0 |
f |
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3.5 |
f |
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| 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). |
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2001
£m |
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2002
£m |
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2003
£m |
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2004
£m |
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2005
£m |
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Expenditure on research and development |
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Total expenditure |
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364 |
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362 |
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|
380 |
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|
334 |
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|
257 |
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2001
£m |
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2002
£m |
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2003
£m |
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2004
£m |
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2005
£m |
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Expenditure on tangible fixed assets |
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Plant and equipment |
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Transmission equipment |
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1,655 |
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1,373 |
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1,277 |
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1,324 |
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1,488 |
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Exchange equipment |
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478 |
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428 |
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228 |
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|
150 |
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143 |
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Other network equipment |
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918 |
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694 |
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466 |
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585 |
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648 |
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Computers and office equipment |
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407 |
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273 |
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281 |
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205 |
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312 |
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Motor vehicles and other |
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231 |
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189 |
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162 |
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316 |
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349 |
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Land and buildings |
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171 |
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153 |
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40 |
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73 |
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64 |
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3,860 |
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3,110 |
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2,454 |
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2,653 |
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3,004 |
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Increase (decrease) in engineering stores |
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(3 |
) |
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(10 |
) |
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(9 |
) |
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20 |
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7 |
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Total continuing activities |
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3,857 |
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3,100 |
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2,445 |
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2,673 |
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|
3,011 |
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Total discontinued activities |
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1,129 |
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808 |
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– |
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– |
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– |
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Total expenditure on tangible fixed assets |
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4,986 |
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3,908 |
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2,445 |
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2,673 |
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3,011 |
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(Increase) decrease in creditors |
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(230 |
) |
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161 |
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135 |
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11 |
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45 |
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Cash outflow on purchase of tangible fixed assets |
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4,756 |
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4,069 |
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2,580 |
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2,684 |
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3,056 |
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Financial statistics have been restated where necessary to provide consistency with the presentation of the 2005 financial year figures.
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