BT 2002 Annual Report Download - page 27

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Pro®t and loss account
Years ended 31 March
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Total turnover
Continuing activities 13,986 16,186 18,228 21,068 21,815
Discontinued activities 3,425 2,037 3,675 8,598 2,827
17,411 18,223 21,903 29,666 24,642
Group's share of associates' and joint ventures' turnover (1,771) (1,270) (3,364) (9,937) (4,764)
Trading between group and principal joint venture ± ± 176 698 681
Group turnover:
Continuing activities 13,651 15,197 16,125 17,141 18,447
Discontinued activities 1,989 1,756 2,590 3,286 2,112
15,640 16,953 18,715 20,427 20,559
Other operating income
a
380 157 216 359 362
Operating costs
bc
(12,355) (13,305) (15,359) (20,759) (21,400)
Group operating pro®t (loss):
Before goodwill amortisation and
exceptional items 3,903 3,874 3,772 3,257 2,580
Goodwill amortisation and exceptional items (238) (69) (200) (3,230) (3,059)
3,665 3,805 3,572 27 (479)
Group's share of operating loss of associates and
joint ventures
d
(196) (342) (400) (397) (1,381)
Total operating pro®t (loss):
Continuing activities 3,066 3,230 3,143 2,456 (1,489)
Discontinued activities 403 233 29 (2,826) (371)
3,469 3,463 3,172 (370) (1,860)
Pro®t on sale of ®xed asset investments and group undertakings
e
63 1,107 126 619 4,389
Pro®t (loss) on sale of property ®xed assets (8) 11 26 34 1,089
Amounts written off investments ±±±±(535)
Net interest payable
f
(310) (286) (382) (1,314) (1,622)
Pro®t (loss) on ordinary activities before taxation:
Before goodwill amortisation exceptional items and
taxation 2,976 3,274 3,100 2,072 1,113
Goodwill amortisation and exceptional items 238 1,021 (158) (3,103) 348
3,214 4,295 2,942 (1,031) 1,461
Tax on pro®t (loss) on ordinary activities:
Corporation and similar taxes (1,007) (1,323) (957) (712) (443)
Windfall tax (510) ± ± ± ±
Pro®t (loss) on ordinary activities after taxation 1,697 2,972 1,985 (1,743) 1,018
Minority interests (25) (19) 10 (127) (23)
Pro®t (loss) for the ®nancial year 1,672 2,953 1,995 (1,870) 995
Average number of shares used in basic earnings per share (millions) 7,122 7,183 7,235 7,276 8,307
Basic earnings (loss) per share 23.5p 41.1p 27.6p (25.7)p 12.0p
Diluted earnings (loss) per share 23.1p 40.2p 26.9p (25.7)p 11.9p
Basic earnings (loss) per share from continuing activities 19.7p 40.5p 29.2p 20.7p (34.8)p
Diluted earnings (loss) per share from continuing activities 19.4p 39.5p 28.5p 20.4p (34.8)p
Dividends per share 17.0p 18.3p 19.6p 7.8p 2.0p
Dividends per share, cents 28.2c 29.6c 32.0c 12.6c 2.9c
Basic earnings per share before goodwill amortisation and
exceptional items 28.0p 30.7p 29.8p 17.5p 6.1p
Diluted earnings per share before goodwill amortisation and
exceptional items 27.6p 30.0p 29.1p 17.3p 6.0p
Basic earnings per share before goodwill amortisation and
exceptional items on continuing activities 24.3p 30.3p 29.5p 19.3p 8.8p
a
Including MCI merger break-up fee net of expenses 238 ± ± ± ±
b
Operating costs include net exceptional costs ± 69 111 2,857 2,707
c
Includes redundancy and early leaver costs 106 124 59 118 252
d
Group's share of operating loss of associates and joint ventures includes exceptional
costs ±±±3321,294
e
Including gain on MCI shares sold in 1999 ± 1,133 ± ± ±
f
Net interest payable includes exceptional costs (credits) ± ± ± (25) 162
Five-year financial summary
26 BT Group Annual Report and Form 20-F 2002