Annual Report and Accounts 2000

Year to 31 August 2000
    Year to 31 August 2000 Year to 31 August 1999
    Note Before
 goodwill
and
 exceptional
 items
£m		   Goodwill
and
exceptional
items
£m		       Total
£m		 Before
goodwill
and
exceptional
items
 £m		 Goodwill
and
exceptional
items
 £m		 Total
£m
Continuing operations   2,602   –   2,602   2,408   –   2,408
Discontinued operations   30   –   30   1,695   –   1,695
Group turnover and share of turnover of                        
 

joint venture undertaking

 1 2,632   –   2,632   4,103   –   4,103
Less: share of turnover of joint venture                        
 

-discontinued operation

(12)   –   (12)   (624)   –   (624)
Turnover   2,620   –   2,620   3,479   –   3,479
Operating costs               –   –   –
  – goodwill amortisation 5 –   (3)   (3)            
  – other 5 (2,143)   (54)   (2,197)   (2,838)   (235)   (3,073)
                         
Continuing operations  
473
 4
 
(57)
 –
 
416
 4
 
420
221
 
(220)
 (15)
200
206
Discontinued operations          
Operating profit   477   (57)   420   641   (235)   406
Share of profits of joint venture undertaking                        
 

– discontinued operation

 14 –   –   –   7   (14)   (7)
Share of profits of associated undertakings                        
 

-continuing operations

 14 14   –   14   10   –   10
  -discontinued operations 14 9   –   9   13   (4)   9
Trading profit 1

  500

   (57)   443   671   (253)    418
Profit on sale of businesses in continuing                        
 

and discontinued operations

 6 –   13   13   –   179   179
Profit/(loss) on disposal
of fixed assets in		                        
 

continuing and discontinued operations

 6 –   46   46   –   (12)   (12)
Profit on ordinary activities before finance charges   500   2   502   671   (86)   585
Finance charges 7 (83)   –   (83)   (92)   (272)   (364)
Profit on ordinary activities before taxation   417   2   419   579   (358)   221
Taxation 8 (108)   15   (93)   (150)   11   (139)
Profit on ordinary activities after taxation   309   17   326   429   (347)   82
Minority interests – equity and non-equity 23 (9)   –   (9)   (6)   –   (6)
Profit earned for ordinary shareholders for the year   300   17   317   423   (347)   76
Ordinary dividends 10         (116)           (157)
Retained profit/(loss) 22         201           (81)

Earnings per ordinary share:

                        
  – basic 9       29.9p           7.3p
  – diluted  9        29.9p           7.3p
  – normalised (before goodwill and exceptional                        
 

items and excluding discontinued operations)

 9 27.4p           24.2p