For the year ended 31 December
 |
|
|
|
|
|
|
|
| $ million |
|
|
|
| |
|
Note |
|
2003 |
|
2002 |
|
|
|
| Group turnover |
|
|
|
232,571 |
|
178,721 |
|
|
|
| Group replacement cost operating profit |
|
3 |
|
14,979 |
|
9,284 |
|
| Share of profits of joint ventures |
|
|
|
923 |
|
346 |
|
| Share of profits of associated undertakings |
|
|
|
511 |
|
616 |
|
|
|
| Total replacement cost operating profit |
|
4 |
|
16,413 |
|
10,246 |
|
| Profit (loss) on sale of businesses or termination of operations |
|
5 |
|
(28 |
) |
(33 |
) |
| Profit (loss) on sale of fixed assets |
|
5 |
|
859 |
|
1,201 |
|
|
|
| Replacement cost profit before interest and tax |
|
|
|
17,244 |
|
11,414 |
|
| Stock holding gains (losses) |
|
|
|
16 |
|
1,129 |
|
|
|
| Historical cost profit before interest and tax |
|
|
|
17,260 |
|
12,543 |
|
| Interest expense |
|
|
|
851 |
|
1,279 |
|
|
|
| Profit before taxation |
|
|
|
16,409 |
|
11,264 |
|
| Taxation |
|
|
|
5,972 |
|
4,342 |
|
|
|
| Profit after taxation |
|
|
|
10,437 |
|
6,922 |
|
| Minority shareholders' interest (MSI) |
|
|
|
170 |
|
77 |
|
|
|
| Profit for the year |
|
|
|
10,267 |
|
6,845 |
|
| Distribution to shareholders |
|
6 |
|
5,753 |
|
5,375 |
|
|
|
| Retained profit for the year |
|
|
|
4,514 |
|
1,470 |
|
|
|
Earnings per ordinary share – cents |
|
|
|
|
|
|
|
| Basic |
|
7 |
|
46.30 |
|
30.55 |
|
| Diluted |
|
7 |
|
45.87 |
|
30.41 |
|
|
|
Replacement cost results |
|
|
| Historical cost profit for the year |
|
|
|
10,267 |
|
6,845 |
|
| Stock holding (gains) losses (net of MSI) |
|
|
|
(16 |
) |
(1,104 |
) |
|
|
| Replacement cost profit for the year |
|
2 |
|
10,251 |
|
5,741 |
|
| Exceptional items (net of tax) |
|
5 |
|
(708 |
) |
(1,043 |
) |
|
|
| Replacement cost profit before exceptional items |
|
|
|
9,543 |
|
4,698 |
|
|
|
Earnings per ordinary share – cents |
|
|
|
|
|
|
|
On replacement cost profit before
exceptional items |
|
7 |
|
43.03 |
|
20.97 |
|
|
|
|
The summary financial statement on pages 1-36 and 38-45 (of the printed Annual Review) was approved by a duly appointed and authorized committee of the board
of directors on 9 February 2004 and signed on its behalf by:
Peter Sutherland, Chairman
The Lord Browne of Madingley, Group Chief Executive |
|
|
|
|
