Consolidated profit and loss account
For the year ended 31 December 2001

						Continuing		Discontinued		Group
				Year		Nine months		Nine months		Nine months
				ended		ended		ended		ended
				31 December		31 December		31 December		31 December
				2001		2000		2000		2000
Note				£m		£m		£m		£m
1		Turnover: Group and share of joint ventures and associates		1,103		762		1,578		2,340
		Less: share of joint ventures' turnover		(139)		(96)		(5)		(101)
		Less: share of associates' turnover		(407)		(382)		-		(382)
1		Group turnover		557		284		1,573		1,857
2		Net operating costs - ordinary		(392)		(225)		(1,455)		(1,680)
8		Net operating costs - exceptional		(2)		-		(227)		(227)
		Operating profit/(loss)		163		59		(109)		(50)
		Share of operating profit of:
		Joint ventures		27		14		2		16
		Associates		134		94		-		94
		Total operating profit/(loss): Group and share of joint ventures and associates		324		167		(107)		60
1		Excluding exceptional items		326		167		120		287
8		Exceptional items		(2)		-		(227)		(227)
8		Non operating exceptional items:
		Profit/(loss) on sale of operations		32		(25)		-		(25)
		Demerger and reorganisation costs		-		(74)		(6)		(80)
				32		(99)		(6)		(105)
		Profit/(loss) on ordinary activities before interest		356		68		(113)		(45)
4		Interest receivable and similar income		24		61		22		83
5		Interest payable and similar charges - ordinary		(100)		(98)		(51)		(149)
5/8		Interest payable and similar charges - exceptional		(29)		-		-		-
		Share of net interest of joint ventures and associates		(47)		(44)		(1)		(45)
		Net interest		(152)		(81)		(30)		(111)
3		Profit/(loss) on ordinary activities before taxation		204		(13)		(143)		(156)
9		Tax on profit/(loss) on ordinary activities		(58)		(21)		-		(21)
		Profit/(loss) on ordinary activities after taxation		146		(34)		(143)		(177)
		Minority interests - equity		(2)		(4)		-		(4)
		Profit/(loss) for the financial year		144		(38)		(143)		(181)
11		Demerger dividend		-		(392)				(392)
		Retained profit/(loss) for the financial year		144		(430)				(573)
12		Earnings/(loss) per share:
		Basic excluding exceptional items		12.8p		5.5p				13.5p
		Attributable to exceptional items		0.1p		(8.9)p				(29.7)p
		Basic including exceptional items		12.9p		(3.4)p				(16.2)p
		Diluted excluding exceptional items		12.5p		5.5p				13.5p
		Diluted including exceptional items		12.6p		(3.4)p				(16.2)p

The results for the year ended 31 December 2001 derive from continuing operations. There were no material changes in the activitiesof the entities consolidated in these financial statements and no material acquisitions or disposals.