Introduction Financial highlights Chairman's statement


Introduction
Financial highlights
Chairman's statement




Financial highlights 2002   2001   headline
%change
underlying
%change
Sales* £4,320m $6,955m £4,225m $6,802m 2 6
Business performance            
Operating profit* £493m $794m £426m $686m 16 18
Profit before tax* £399m $642m £294m $473m 36  
Adjusted earnings per share 30.3p 48.8¢ 21.4p 34.5¢ 42  
Operating free cash flow £305m $491m £236m $380m 29  
Statutory results            
Operating profit/(loss) £143m $230m £(47)m $(76)m -  
Loss before tax £(25)m $(40)m £(436)m $(702)m -  
Loss per share (13.9)p (22.4)¢ (53.2)p (85.7)¢ -  
Dividend per share 23.4p 37.7¢ 22.3p 35.9¢ 5  
Net borrowings £1,408m $2,267m £2,379m $3,830m 41  

*continuing operations before goodwill, integration costs and non-operating items.Profit before tax includes discontinued operations.


notes -

Throughout this report (unless otherwise stated):

  1. Growth rates are given on an underlying basis, excluding the impact of acquisitions, disposals and currency movements. In 2002, portfolio changes increased revenues by £10m and reduced profits by £26m;
  2. Adjusted figures are presented as additional measures, to provide a better indicator of business performance. They are stated before goodwill, integration costs and non-operating items. Goodwill is amortised over no more than 20 years;
  3. Figures are reported after internet enterprises;
  4. 2001 numbers and all prior year numbers have been restated for FRS 19, the new accounting standard for deferred tax;
  5. The value of the dollar has been translated at the year-end rate; $1.61: £1 sterling.

 
 
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