BT 2001 Annual Report Download - page 136

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Unaudited pro forma statements of income
Year ended 31 March 2000
Historical
BT
(note 1)
£m
BT Wireless
(note 5)
£m
Yell
(note 6)
£m
Eliminations
and other
(note 7)
£m
Pro forma
BT
£m
Group turnover 18,715 2,636 622 (764) 16,221
Other operating income 242 – – 242
Operating costs (15,359) (2,563) (432) 764 (13,128)
Group operating profit 3,598 73 190 – 3,335
Group’s share of operating profit (loss) of associates and joint ventures (400) (243) 1 – (158)
Total operating profit (loss) 3,198 (170) 191 – 3,177
Profit on sale of group undertakings 126 – – – 126
Net interest payable (382) (48) (11) – (323)
Profit (loss) on ordinary activities before taxation 2,942 (218) 180 – 2,980
Tax on profit (loss) on ordinary activities (897) (2) (58) – (837)
Profit (loss) on ordinary activities after taxation 2,045 (220) 122 – 2,143
Minority interest 10 (2) – – 12
Profit (loss) for the financial year 2,055 (222) 122 – 2,155
Other financial information
Pro forma basic earnings per share 33.2p
Pro forma diluted earnings per share 32.4p
Shares used in computing basic earnings per share 6,488m
Shares used in computing diluted earnings per share 6,642m
US GAAP information
Net income £1,512m
Pro forma basic earnings per ADS £2.33
Pro forma diluted earnings per ADS £2.28
Year ended 31 March 1999
Group turnover 16,953 1,822 469 (537) 15,199
Other operating income 168 – – – 168
Operating costs (13,305) (1,625) (292) 537 (11,925)
Group operating profit 3,816 197 177 – 3,442
Group’s share of operating loss of associates and joint ventures (342) (152) – – (190)
Total operating profit 3,474 45 177 – 3,252
Profit on sale of fixed asset investments 1,107 – – – 1,107
Net interest payable (286) (40) – – (246)
Profit on ordinary activities before taxation 4,295 5 177 – 4,113
Tax on profit on ordinary activities (1,293) (15) (60) – (1,218)
Profit (loss) on ordinary activities after taxation 3,002 (10) 117 – 2,895
Minority interests (19) (34) – – 15
Profit (loss) for the financial year 2,983 (44) 117 – 2,910
Other financial information
Pro forma basic earnings per share 45.2p
Pro forma diluted earnings per share 44.1p
Shares used in computing basic earnings per share 6,442m
Shares used in computing diluted earnings per share 6,592m
US GAAP information
Net income £2,532m
Pro forma basic earnings per ADS £3.93
Pro forma diluted earnings per ADS £3,84
See notes to unaudited pro forma condensed combined ¢nancial statements.
136 BT Annual report and Form 20-F
Unaudited pro forma condensed combined financial statements