BT 2003 Annual Report Download - page 30

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Summarised profit and loss account 2003 2002 2001
Continuing
activities
and total
£m
Continuing
activities
£m
Total*
£m
Continuing
activities
£m
Total*
£m
Total turnover 20,182 21,815 24,642 21,068 29,666
Group’s share of associates’ and joint ventures’ turnover (1,455) (4,049) (4,764) (4,625) (9,937)
Trading between group and principal joint venture –681 681 698 698
Group turnover 18,727 18,447 20,559 17,141 20,427
Other operating income 215 361 362 346 359
Operating costs (16,370) (18,854) (21,400) (14,500) (20,759)
Group operating profit (loss):
Before goodwill amortisation and exceptional items 2,790 2,771 2,580 3,082 3,257
Goodwill amortisation (20) (121) (352) (88) (373)
Exceptional items (198) (2,696) (2,707) (7) (2,857)
2,572 (46) (479) 2,987 27
Group’s share of operating profit (loss) of associates
and joint ventures 329 (1,443) (1,381) (531) (397)
Total operating profit (loss):
Before goodwill amortisation and exceptional items 2,971 2,663 2,546 2,925 3,377
Goodwill amortisation (22) (162) (405) (166) (558)
Exceptional items (48) (3,990) (4,001) (303) (3,189)
2,901 (1,489) (1,860) 2,456 (370)
Profit on sale of fixed asset investments and
group undertakings 1,691 21 4,389 618 619
Profit on sale of property fixed assets 11 1,089 1,089 34 34
Amounts written off investments (7) (535) (535) – –
Net interest payable (1,439) (1,579) (1,622) (1,171) (1,314)
Profit (loss) on ordinary activities before taxation:
Before goodwill amortisation and exceptional items 1,829 1,273 1,113 1,763 2,072
Goodwill amortisation (22) (162) (405) (166) (558)
Exceptional items 1,350 (3,604) 753 340 (2,545)
3,157 (2,493) 1,461 1,937 (1,031)
Taxation (459) (385) (443) (432) (712)
Profit (loss) after taxation 2,698 (2,878) 1,018 1,505 (1,743)
Minority interests (12) (10) (23) 2 (127)
Profit (loss) for the financial year 2,686 (2,888) 995 1,507 (1,870)
Basic earnings (loss) per share:
Before goodwill amortisation and exceptional items 14.2p 8.8p 6.1p 19.3p 17.5p
Goodwill amortisation (0.3)p (2.0)p (5.0)p (2.4)p (7.7)p
Exceptional items 17.3p (41.6)p 10.9p 3.8p (35.5)p
31.2p (34.8)p 12.0p 20.7p (25.7)p
* Including discontinued activities
Financial review
BT Annual Report and Form 20-F 2003 29