BT 2005 Annual Report Download - page 24

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Profit and loss account
Years ended 31 March
2001
£m
a
2002
£m
a
2003
£m
a
2004
£m
a
2005
£m
Total turnover:
Continuing activities 21,068 21,815 20,182 18,914 19,031
Discontinued activities 8,598 2,827 – – –
29,666 24,642 20,182 18,914 19,031
Group’s share of associates’ and joint ventures’ turnover (9,937) (4,764) (1,455) (395) (408)
Trading between group and principal joint venture 698 681 – – –
Group turnover:
Continuing activities 17,141 18,447 18,727 18,519 18,623
Discontinued activities 3,286 2,112 – – –
20,427 20,559 18,727 18,519 18,623
Other operating income 359 362 215 177 171
Operating costs
bc
(20,764) (21,387) (16,366) (15,826) (16,005)
Group operating profit (loss):
Before goodwill amortisation and exceptional items 3,252 2,593 2,794 2,889 2,864
Goodwill amortisation and exceptional items (3,230) (3,059) (218) (19) (75)
22 (466) 2,576 2,870 2,789
Group’s share of operating profit (loss) of associates and
joint ventures
d
(397) (1,381) 329 (34) (25)
Total operating profit (loss):
Continuing activities 2,451 (1,476) 2,905 2,836 2,764
Discontinued activities (2,826) (371) – – –
(375) (1,847) 2,905 2,836 2,764
Profit on sale of fixed asset investments and group undertakings 619 4,389 1,696 36 358
Profit on sale of property fixed assets 34 1,089 11 14 22
Amounts written off investments – (535) – – –
Net interest payable
e
(1,314) (1,622) (1,439) (941) (801)
Profit (loss) on ordinary activities before taxation:
Before goodwill amortisation and exceptional items 2,067 1,126 1,840 2,013 2,085
Goodwill amortisation and exceptional items (3,103) 348 1,333 (68) 258
(1,036) 1,474 3,173 1,945 2,343
Tax on profit (loss) on ordinary activities
f
(712) (443) (459) (539) (523)
Profit (loss) on ordinary activities after taxation (1,748) 1,031 2,714 1,406 1,820
Minority interests (127) (23) (12) 8 1
Profit (loss) for the financial year (1,875) 1,008 2,702 1,414 1,821
Average number of shares used in basic earnings per share (millions) 7,276 8,307 8,616 8,621 8,524
Basic earnings (loss) per share (25.8)p 12.1p 31.4p 16.4p 21.4p
Diluted earnings (loss) per share (25.8)p 12.0p 31.2p 16.3p 21.2p
Basic earnings (loss) per share from continuing activities 20.6p (34.6)p 31.4p 16.4p 21.4p
Diluted earnings (loss) per share from continuing activities 20.3p (34.6)p 31.2p 16.3p 21.2p
Dividends per share 7.8p 2.0p 6.5p 8.5p 10.4p
Dividends per share, cents
g
14.0c 3.1c 10.3c 15.3c 19.5c
Basic earnings per share before goodwill amortisation and
exceptional items 17.5p 6.2p 14.4p 16.9p 18.1p
Diluted earnings per share before goodwill amortisation and
exceptional items 17.2p 6.2p 14.3p 16.8p 18.0p
Basic earnings per share before goodwill amortisation and
exceptional items on continuing activities 19.2p 9.0p 14.4p 16.9p 18.1p
a
Restated following adoption of UITF17 and UITF38 (see note 1 on page 81)
b
Operating costs include net exceptional costs 2,857 2,707 198 7 59
c
Includes redundancy and early leaver costs 118 252 276 202 166
d
Group’s share of operating profit (loss) of associates and joint ventures
includes exceptional costs (release) 332 1,294 (150) 26 25
e
Net interest payable includes exceptional costs (credits) (25) 162 293 55 –
f
Includes exceptional tax charge (credit) 22 (143) (139) (29) (16)
g
Based on actual dividends paid and/or year end exchange rate on
proposed dividends
Five-year financial summary
Operating and financial review BT Group plc Annual Report and Form 20-F 2005 23