| |
|
Year ended 31 December |
|
Year ended 31 December |
 |
 |
|
|
| |
|
Excluding |
|
Including |
|
Excluding |
|
Including |
| |
|
exceptional |
Exceptional |
exceptional |
|
exceptional |
Exceptional |
exceptional |
| |
|
items |
items |
items |
|
items |
items |
items |
| |
|
2003 |
2003 |
2003 |
|
2002 |
2002 |
2002 |
| Note |
|
£m |
£m |
£m |
|
£m |
£m |
£m |
| |
|
|
|
|
|
|
|
|
| 1 |
Turnover: Group and share of |
|
|
|
|
|
|
| |
joint ventures and associates |
1,273 |
– |
1,273 |
|
1,129 |
– |
1,129 |
| |
Less: share of joint ventures’ turnover |
(136) |
– |
(136) |
|
(122) |
– |
(122) |
| |
Less: share of associates’ turnover |
(285) |
– |
(285) |
|
(290) |
– |
(290) |
|
|
|
| 1 |
Group turnover |
852 |
– |
852 |
|
717 |
– |
717 |
| 2/8 |
Net operating costs |
(727) |
(404) |
(1,131) |
|
(509) |
(103) |
(612) |
|
|
|
| |
Operating profit/(loss) |
125 |
(404) |
(279) |
|
208 |
(103) |
105 |
| |
Share of operating profit of: |
|
|
|
|
|
|
|
| |
Joint ventures |
32 |
– |
32 |
|
26 |
– |
26 |
| 8 |
Associates |
95 |
35 |
130 |
|
123 |
– |
123 |
| 8 |
Income from investments |
33 |
– |
33 |
|
31 |
42 |
73 |
|
|
|
| 1/8 |
Operating profit/(loss) and |
|
|
|
|
|
|
| |
investment income |
285 |
(369) |
(84) |
|
388 |
(61) |
327 |
| 8 |
Non-operating exceptional items: |
|
|
|
|
|
|
|
| |
Profit on sale of fixed asset investments |
– |
27 |
27 |
|
– |
– |
– |
|
|
|
| 1 |
Profit/(loss) on ordinary |
|
|
|
|
|
|
| |
activities before interest |
|
|
|
|
|
|
| |
and taxation |
285 |
(342) |
(57) |
|
388 |
(61) |
327 |
| 4 |
Interest receivable and similar income |
42 |
– |
42 |
|
24 |
– |
24 |
| 5/8 |
Interest payable and similar charges |
(121) |
(16) |
(137) |
|
(121) |
– |
(121) |
| 5 |
Share of net interest of joint ventures and associates |
(32) |
– |
(32) |
|
(35) |
– |
(35) |
| |
Net interest |
(111) |
(16) |
(127) |
|
(132) |
– |
(132) |
|
|
|
| 3 |
Profit/(loss) on ordinary activities before taxation |
174 |
(358) |
(184) |
|
256 |
(61) |
195 |
| 8/9 |
Tax (charge)/credit on profit/(loss) on ordinary activities |
(54) |
26 |
(28) |
|
(77) |
1 |
(76) |
|
|
|
| |
Profit/(loss) on ordinary activities after taxation |
120 |
(332) |
(212) |
|
179 |
(60) |
119 |
| |
Minority interests – equity |
(7) |
– |
(7) |
|
(6) |
– |
(6) |
|
|
|
| |
Profit/(loss) for the financial year |
113 |
(332) |
(219) |
|
173 |
(60) |
113 |
|
|
|
| |
|
|
|
|
|
|
|
|
| 11 |
Earnings/(loss) per share: |
|
|
|
|
|
|
| |
Basic |
10.2p |
(29.9)p |
(19.7)p |
|
15.5p |
(5.4)p |
10.1p |
| |
Diluted |
10.1p |
(29.9)p |
(19.7)p |
|
15.5p |
(5.4)p |
10.1p |
|
|
|
| |
|
|
|
|
|
|
|
|
