Unilever 2003 Annual Report Download - page 79

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Consolidated profit and loss account
Unilever Group for the year ended 31 December
€ million € million € million
2003 2002 2001
Restated Restated
Turnover 142 942 48 760 52 206
Less: Share of turnover of joint ventures 1(249) (490) (692)
Group turnover 142 693 48 270 51 514
Cost of sales 2(21 192) (24 049) (27 095)
Gross profit 21 501 24 221 24 419
Distribution, selling and administrative costs 2(16 018) (19 214) (19 473)
Group operating profit 15 483 5 007 4 946
After charging:
Exceptional items (97) (707) (579)
Amortisation of goodwill and intangible assets 1(1 139) (1 245) (1 387)
Add: Share of operating profit of joint ventures 146 84 84
Operating profit 15 529 5 091 5 030
After charging:
Exceptional items 4(100) (702) (579)
Amortisation of goodwill and intangible assets 1(1 143) (1 261) (1 423)
Share of operating profit of associates 125 34 –
Other income from fixed investments 11 (3) (7) 12
Interest 5(847) (1 173) (1 646)
Other finance income/(cost) – pensions and similar obligations 17 (166) 108 42
Profit on ordinary activities before taxation 4 538 4 053 3 438
Taxation on profit on ordinary activities 6(1 527) (1 605) (1 519)
Profit on ordinary activities after taxation 3 011 2 448 1 919
Minority interests (249) (312) (239)
Net profit 2 762 2 136 1 680
Attributable to: NV 22 1 976 1 679 764
PLC 22 786 457 916
Dividends (1 709) (1 701) (1 581)
Preference dividends (27) (42) (51)
Dividends on ordinary capital 8(1 682) (1 659) (1 530)
Result for the year retained 1 053 435 99
Combined earnings per share 7
Basic earnings per share:
Euros per €0.51 of ordinary capital 2.82 2.14 1.66
Euro cents per 1.4p of ordinary capital 42.33 32.16 24.86
On a diluted basis the figures would be:
Euros per €0.51 of ordinary capital 2.74 2.08 1.61
Euro cents per 1.4p of ordinary capital 41.09 31.20 24.19
All amounts are related to continuing operations as defined by United Kingdom Financial Reporting Standard 3.
References in the consolidated profit and loss account, consolidated statement of total recognised gains and losses, consolidated cash
flow statement and consolidated balance sheet relate to notes on pages 79 to 125, which form an integral part of the consolidated
financial statements.
Accounting policies of the Unilever Group are set out on pages 73 to 75.
Variations from United States generally accepted accounting principles and Regulation S-X are outlined on pages 131 to 141.
In accordance with Article 402 of Book 2 of the Civil Code in the Netherlands, the profit and loss account of the entity NV on page 146 shows
only the income from fixed investments after taxation and other income and expenses as separate items.
Amounts for 2002 and 2001 reported in the financial statements have been restated following changes in our accounting policies for pensions
and other post-employment benefits and for share-based payments. See note 17 on page 99 and note 29 on page 116.
76 Unilever Annual Report & Accounts and Form 20-F 2003