Vodafone 2004 Annual Report Download - page 82

Download and view the complete annual report

Please find page 82 of the 2004 Vodafone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 142

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142

Vodafone Group Plc Annual Report 2004
80
Notes to the Consolidated Financial Statements continued
6. Exceptional non-operating items
2004 2003 2002
£m £m £m
(Loss)/profit on disposal of businesses (127) 22 41
Amounts written off fixed asset investments (6) (340) (920)
Profit on disposal of fixed asset investments 12 255 9
Profit on disposal of tangible fixed assets 19 310
Share of associated undertakings (loss)/profit on disposal of investment (1) 55 –
(103) (5) (860)
The loss on disposal of businesses for the year ended 31 March 2004 primarily relates to the disposal of the Japan Telecom fixed line operations by the Group’s
66.7% owned subsidiary, Vodafone Holdings K.K.
Amounts written off fixed asset investments for the years ended 31 March 2003 and 31 March 2002 primarily relate to the Group’s interest in China Mobile.
The profit on disposal of fixed asset investments for 2003 primarily relates to the disposal of the Group’s 23.6% interest in Bergemann GmbH, through which
the Group’s 8.2% stake in Ruhrgas AG was held. The share of associate profit on disposal of investment relates to the completion of the disposal for cash of
AOL Europe shares by Cegetel Group S.A.
The profit on disposal of fixed asset investments for the year ended 31 March 2002 relates to a profit on disposal of the Group’s 11.7% interest in the Korean
mobile operator, Shinsegi. The profit on disposal of businesses for the year ended 31 March 2002 principally relates to a gain arising on the reduction in the
Group’s interest in Vodafone Greece, from 55% to 51.9%.
7. Net interest payable and similar items
2004 2003 2002
£m £m £m
Parent and subsidiary undertakings:
Interest receivable and similar income (566) (647) (468)
Interest payable and similar charges:
Bank loans and overdrafts 46 133 360
Other loans 820 921 494
Tax liabilities 215 55 108
Finance leases 10 14 9
1,091 1,123 971
Group net interest payable 525 476 503
Share of joint ventures:
Interest payable and similar charges –812
Share of associated undertakings:
Interest receivable and similar income (7) (24) (23)
Interest payable and similar charges 222 311 353
215 287 330
Share of joint ventures and associated undertakings net interest payable 215 295 342
Other similar items (26) (19) –
Net interest payable and similar items 714 752 845