BT 2003 Annual Report Download - page 81

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Continuing activities
Notes
Before goodwill
amortisation
and exceptional
items
£m
Goodwill
amortisation
and exceptional
items
£m
Total
continuing
activities
£m
Discontinued
activities and
intra-group
items
£m
Total
£m
Total turnover 221,815 – 21,815 2,827 24,642
Group’s share of joint ventures’ turnover 3(2,752) – (2,752) (76) (2,828)
Group’s share of associates’ turnover 3(1,297) – (1,297) (639) (1,936)
Trading between group and principal joint venture 3681 – 681 –681
Group turnover 218,447 – 18,447 2,112 20,559
Other operating income 4361 – 361 1362
Operating costs 5(16,037) (2,817) (18,854) (2,546) (21,400)
Group operating profit (loss) 2,771 (2,817) (46) (433) (479)
Group’s share of operating profit (loss) of joint ventures 6(323) (1,160) (1,483) 19 (1,464)
Group’s share of operating profit (loss) of associates 6215 (175) 40 43 83
Total operating profit (loss) 2,663 (4,152) (1,489) (371) (1,860)
Profit on sale of fixed asset investments 7– 169 169 3,208 3,377
Profit (loss) on sale of group undertakings 7– (148) (148) 1,160 1,012
Profit on sale of property fixed assets 827 1,062 1,089 –1,089
Interest receivable 10 360 – 360 –360
Amounts written off investments 9– (535) (535) –(535)
Interest payable 11 (1,777) (162) (1,939) (43) (1,982)
Profit (loss) on ordinary activities before taxation 1,273 (3,766) (2,493) 3,954 1,461
Tax on profit (loss) on ordinary activities 12 (528) 143 (385) (58) (443)
Profit (loss) on ordinary activities after taxation 745 (3,623) (2,878) 3,896 1,018
Minority interests 13 (10) – (10) (13) (23)
Profit (loss) for the financial year 735 (3,623) (2,888) 3,883 995
Dividends (see note below) 14 (173)
Retained profit for the financial year 28 822
Basic earnings (loss) per share 15 8.8p (34.8)p 12.0p
Diluted earnings (loss) per share 15 8.8p (34.8)p 11.9p
In addition to the final dividend for the year of £173 million there was a demerger distribution of £19,490 million,
representing the net assets of mmO
2
(including purchased goodwill) as at the date of demerger. Of the demerger
distribution, £9 million represents a cash dividend paid by British Telecommunications plc to mmO
2
plc as part
of the demerger process.
Group profit and loss account
for the year ended 31 March 2002
80 BT Annual Report and Form 20-F 2003