|
Summary group profit and loss account
for the year ended 31 March
2005
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Before goodwill
|
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Goodwill
|
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|
|
|
|
|
amortisation
|
|
amortisation
|
|
|
|
|
|
|
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and exceptional
|
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and exceptional
|
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|
|
|
|
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items
|
|
items
|
(a)
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Total
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|
Total
|
(b)
|
|
|
2005
|
|
2005
|
|
2005
|
|
2004
|
(c)
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|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
|
|
|
|
|
|
|
|
|
|
Group turnover
|
18,623
|
|
|
|
18,623
|
|
18,519
|
|
|
|
|
|
|
|
|
|
|
|
Group operating profit (loss)
|
2,864
|
|
(75
|
)
|
2,789
|
|
2,870
|
|
|
Groups share of operating loss
|
|
|
|
|
|
|
|
|
|
of associates and joint ventures
|
|
|
(25
|
)
|
(25
|
)
|
(34
|
)
|
|
Total operating profit (loss)
|
2,864
|
|
(100
|
)
|
2,764
|
|
2,836
|
|
|
Profit on sale of fixed asset investments
|
|
|
|
|
|
|
|
|
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and group undertakings
|
|
|
358
|
|
358
|
|
36
|
|
|
Profit on sale of property fixed assets
|
22
|
|
|
|
22
|
|
14
|
|
|
Net interest payable
|
(801
|
)
|
|
|
(801
|
)
|
(941
|
)
|
|
|
|
|
|
|
|
|
|
|
Profit before taxation
|
2,085
|
|
258
|
|
2,343
|
|
1,945
|
|
|
Tax
|
(539
|
)
|
16
|
|
(523
|
)
|
(539
|
)
|
|
|
|
|
|
|
|
|
|
|
Profit after taxation
|
1,546
|
|
274
|
|
1,820
|
|
1,406
|
|
|
Minority interests
|
1
|
|
|
|
1
|
|
8
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the financial year
|
1,547
|
|
274
|
|
1,821
|
|
1,414
|
|
|
Dividends
|
|
|
|
|
(883
|
)
|
(732
|
)
|
|
|
|
|
|
|
|
|
|
|
Retained profit
|
|
|
|
|
938
|
|
682
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Earnings per share
|
|
|
|
|
21.4
|
p
|
16.4
|
p
|
|
Dividends per share
|
|
|
|
|
10.4
|
p
|
8.5
|
p
|
|
|
|
|
|
|
|
|
|
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Earnings per share before goodwill
|
|
|
|
|
|
|
|
|
|
amortisation and exceptional items
|
|
|
|
|
18.1
|
p
|
16.9
|
p
|
|
|
|
|
|
|
|
|
|
(a) Includes goodwill
amortisation of £16 million, an exceptional property rationalisation
charge of £59 million in relation to the group’s provincial
office portfolio, our share of a write down of Albacom SpA’s
assets, prior to Albacom becoming a subsidiary, of £25 million
and a profit of £358 million mainly from the sale of the group’s
investments in Intelsat, Eutelsat and StarHub. This resulted in a
net credit of £258 million to profit before taxation.
(b) Includes
goodwill amortisation of £12 million, a net exceptional charge
of £7 million reflecting the release of an exceptional bad
debt provision of £23 million offset by rectification costs
relating to a major incident, our share of a goodwill impairment
charge made by Albacom of £26 million, a profit of £32
million on the sale of our interest in Inmarsat, and a one-off interest
credit of £34 million offset by a charge for the premium on
buying back bonds of £89 million. This resulted in a net charge
of £68 million to profit before taxation.
(c)
During the 2005 financial year the group adopted UITF Abstract 38 ‘Accounting for ESOP
trusts’ and the related amendments to UITF Abstract 17 (revised
2003) ‘Employee Share Schemes’. An additional charge of £3
million for the 2004 financial year has been made to the group profit
and loss account. The effect on the group balance sheet at 31 March
2004 has been to reduce fixed assets by £53 million, to reduce
other creditors by £25 million and to reduce shareholders’ funds
by £28 millon. |
