Financial statements Group profit and loss account         NEXT >
 
 

Group profit and loss account
for the year ended December 31, 2000

Notes

Continuing
operations
before
exceptional
items
£m

  

Exceptional
items1
£m

 

Total
2000
£m

  

Restated
Total
1999
£m

Turnover: Group and share of joint ventures

   

5,955

 

—

 

5,955

 

4,697

Sales to joint ventures

   

893

 

—

 

893

 

799

Less share of joint ventures’ turnover

   

(984)

 

—

 

(984)

 

(862)

Group turnover

2

 

5,864

 

—

 

5,864

 

4,634

Cost of sales

   

(4,860)

 

(145)

 

(5,005)

 

(3,787)

Gross profit

   

1,004

 

(145)

 

859

 

847

Other operating income

3

 

341

 

—

 

341

 

232

Commercial, marketing and product support costs

   

(268)

 

—

 

(268)

 

(195)

General and administrative costs

   

(271)

 

—

 

(271)

 

(171)

Research and development (net)*

   

(371)

 

—

 

(371)

 

(337)

Group operating profit

   

435

 

(145)

 

290

 

376

Share of operating profit of joint ventures

   

76

 

—

 

76

 

31

Loss on sale or termination of businesses

31

 

(5)

 

(73)

 

(78)

 

(14)

Profit on sale of fixed assets

7

 

1

 

—

 

1

 

20

Profit on ordinary activities before interest

2

 

507

 

(218)

 

289

 

413

Net interest payable
- Group

4

(85)

 

—

 

(85)

 

(35)

- Joint ventures

(38)

—

 

(38)

 

(18

Profit on ordinary activities before taxation

3

 

384

 

(218)

 

166

 

360

Taxation

5

 

(99)

 

16

 

(83)

 

(74)

Profit on ordinary activities after taxation

   

285

 

(202)

 

83

 

286

Equity minority interests in subsidiary undertakings

         

—

 

(2)

Profit attributable to ordinary shareholders

         

83

 

284

Dividends

6

       

(126)

 

(112)

Transferred (from)/to reserves

25

       

(43)

 

172

*Research and development (gross)            
(604)
  
(626)
Earnings per ordinary share:
7
         
Underlying
         
21.63p
19.52p
Basic            
5.33p
18.86p
Diluted basic            
5.30p
18.62p

1Exceptional items are analysed in note 3.

As permitted by the Companies Act 1985, a separate profit and loss account for the Company has not been included in these financial statements. Of the Group profit attributable to ordinary shareholders, a profit of £194m (1999 £326m) has been dealt with in the profit and loss account of the Company.

There have been no material acquisitions in 2000 and no discontinued operations in 2000 or 1999.

Throughout these financial statements the 1999 comparatives have been restated to reflect UITF 24 ‘Accounting for Start-up Costs’ (see note 9) and the change in the presentation of risk and revenue sharing partnership receipts (see note 3).