|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1999
|
|
2000
|
|
2001
|
|
2002
|
|
2003
|
|
|
|
|
|
|
|
|
|
|
|
|
| Financial
ratios |
|
|
|
|
|
|
|
|
|
|
| Basic
earnings per share on continuing activities |
|
|
|
|
|
|
|
|
|
|
| before
goodwill amortisation and exceptional |
|
|
|
|
|
|
|
|
|
|
| items
– pence |
30.3
|
|
29.5
|
|
19.3
|
|
8.8
|
|
14.2
|
|
| Basic
earnings (loss) per share on continuing |
|
|
|
|
|
|
|
|
|
|
| activities
– pence |
40.5
|
|
29.2
|
|
20.7
|
|
(34.8
|
) |
31.2
|
|
| Basic
earnings (loss) per share – pence |
41.1
|
|
27.6
|
|
(25.7
|
) |
12.0
|
|
31.2
|
|
| Return
on capital employed %a |
19.2
|
|
18.2
|
|
14.9
|
|
6.6
|
de
|
15.5
|
de |
| Interest
coverb |
12.2
|
|
8.8
|
|
2.6
|
|
0.6
|
c
|
2.0
|
c |
|
|
|
|
|
|
|
|
|
|
|
| a
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. |
| b
The number of times net interest payable is
covered by total operating profit before goodwill
amortisation. |
| c
Interest cover based on continuing activities
before goodwill amortisation and exceptional items
was 2.6 times (2002 – 1.9 times). |
| d
Return on capital employed is based upon the
continuing activities. |
| e
Return on capital employed on continuing activities
before goodwill amortisation and exceptional items
was 15.7%. |
|
1999
|
|
2000
|
|
2001
|
|
2002
|
|
2003
|
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expenditure
on research and development |
|
|
|
|
|
|
|
|
|
|
| Total
expenditure |
268
|
|
345
|
|
364
|
|
362
|
|
380
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1999
|
|
2000
|
|
2001
|
|
2002
|
|
2003
|
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expenditure
on tangible fixed assets |
|
|
|
|
|
|
|
|
|
|
| Plant
and equipment |
|
|
|
|
|
|
|
|
|
|
| Transmission
equipment |
1,070
|
|
1,239
|
|
1,655
|
|
1,373
|
|
1,277
|
|
| Exchange
equipment |
410
|
|
412
|
|
478
|
|
428
|
|
228
|
|
| Other
network equipment |
555
|
|
636
|
|
918
|
|
694
|
|
466
|
|
| Computers
and office equipment |
364
|
|
419
|
|
407
|
|
273
|
|
281
|
|
| Motor
vehicles and other |
227
|
|
254
|
|
231
|
|
189
|
|
162
|
|
| Land
and buildings |
200
|
|
187
|
|
171
|
|
153
|
|
40
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,826
|
|
3,147
|
|
3,860
|
|
3,110
|
|
2,454
|
|
| (Decrease)
increase in engineering stores |
(15
|
) |
13
|
|
(3
|
) |
(10
|
) |
(9
|
) |
|
|
|
|
|
|
|
|
|
|
|
| Total
continuing activities |
2,811
|
|
3,160
|
|
3,857
|
|
3,100
|
|
2,445
|
|
| Total
discontinued activities |
458
|
|
520
|
|
1,129
|
|
808
|
|
–
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
expenditure on tangible fixed assets |
3,269
|
|
3,680
|
|
4,986
|
|
3,908
|
|
2,445
|
|
| Decrease
(increase) in creditors |
(49
|
) |
(112
|
) |
(230
|
) |
161
|
|
135
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash
outflow on purchase of tangible fixed assets |
3,220
|
|
3,568
|
|
4,756
|
|
4,069
|
|
2,580
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
statistics have been restated where necessary to provide
consistency with the presentation of the 2003 financial
year figures.
|
