BT 2001 Annual Report Download - page 2

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Contents
3Financial headlines
4Chairman’s message
6Chief Executive’s statement
7Message from Sir Iain Vallance
8Business review
26 Our commitment to society
28 Five-year financial summary
30 Financial review
49 Board of directors and executive committee
52 Report of the directors
53 Corporate governance
57 Risk factors
62 Report on directors’ remuneration
71 Statement of directors’ responsibility
72 Report of the independent auditors
73 Accounting policies
76 Consolidated financial statements
124 United States generally accepted accounting principles
130 Subsidiary undertakings, joint ventures and associates
132 Quarterly analysis of turnover and profit
133 Unaudited pro forma condensed combined financial statements
141 Financial statistics
142 Operational statistics and regulatory information
143 Additional information for shareholders
157 Glossary of terms and US equivalents
158 Cross reference to Form 20-F
160 Index
In this annual report, references to the ‘‘financial
year’’ are to the year ended 31 March of each year,
e.g. the ‘‘2001 financial year’’ refers to the year
ended 31 March 2001. Unless otherwise stated, all
non-financial statistics are at 31 March 2001.
References to the ‘‘company’’ are to British
Telecommunications public limited company, and
references to ‘‘BT’’ or the ‘‘group’’ are to the
company and its subsidiaries, or any of them as the
context may require.
Please see cautionary statement regarding
forward-looking statements on page 143
02 BT Annual report and Form 20-F