Introduction Financial highlights Chairman's statement

Financial highlights
Chairman's statement

Financial highlights 2002   2001   headline
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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