BT 2009 Annual Report Download - page 34

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ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS BUSINESS AND FINANCIAL REVIEWS OVERVIEW
32 BT GROUP PLC ANNUAL REPORT & FORM 20-F
BUSINESS AND FINANCIAL REVIEWS
Summarised group income statement
2009 2008 2007
Year ended 31 March £m £m £m
Revenue 21,390 20,704 20,223
Other operating incomea339 349 233
Operating costsa(21,318) (18,697) (17,915)
Operating profit
Before specific itemsb819 2,895 2,713
Specific items (408) (539) (172)
411 2,356 2,541
Net finance expense
Before specific itemsb(620) (378) (233)
Specific items – – 139
(620) (378) (94)
Share of post tax profits (losses) of associates and joint ventures
Before specific itemsb39 (11) 15
Specific items 36––
75 (11) 15
Profit on disposal of associates and joint ventures – specific items – 9 22
(Loss) profit before taxation
Before specific itemsb238 2,506 2,495
Specific items (372) (530) (11)
(134) 1,976 2,484
Taxation
Before specific itemsb10 (581) (611)
Specific items 43 343 979
53 (238) 368
(Loss) profit for the year
Before specific itemsb248 1,925 1,884
Specific items (329) (187) 968
(81) 1,738 2,852
Basic (loss) earnings per share
Before specific itemsb3.2p 23.9p 22.7p
Specific items (4.3)p (2.4)p 11.7p
Total basic (loss) earnings per share (1.1)p 21.5p 34.4p
aIncludes specific items.
b Operating profit before specific items, net finance expense before specific items, share of post tax profits (losses) of associates and joint ventures before specific items, (loss) profit before taxation and specific
items, taxation before specific items, (loss) profit for the year before specific items and basic (loss) earnings per share before specific items are ‘non-GAAP measures’ provided in addition to the disclosure
requirements defined under IFRS. The rationale for using non-GAAP measures is explained on pages 33, 47 and 48.
The following table reconciles (loss) profit before taxation to adjusted profit before taxationc, an additional non-GAAP measure used in
2009.
(Loss) profit before taxation (134) 1,976 2,484
Contract and financial review charges 1,639 – –
Specific items 372 530 11
Adjusted profit before taxationc1,877 2,506 2,495
Adjusted basic earnings per sharec18.4p 23.9p 22.7p
cAdjusted results refer to the results before the contract and financial review charges recorded within BT Global Services and specific items and are ‘non-GAAP measures’ provided in addition to the disclosure
requirements defined under IFRS. The rationale for using non-GAAP measures is explained on pages 33, 47 and 48.
FINANCIAL REVIEW
The following table shows the summarised group income statement.
BUSINESS AND FINANCIAL REVIEWS