| FOR THE YEAR ENDED 31 DECEMBER 2005 |
Year ended 31 December 2005 |
Year ended 31 December 2004 |
|||||
|---|---|---|---|---|---|---|---|
| Note | Excluding exceptional items |
Exceptional items |
Including exceptional items |
Excluding exceptional items |
Exceptional items |
Including exceptional |
|
| £m | £m | £m | £m | £m | £m | ||
| 2 | Revenue: Group and share of joint ventures and associates | 2,936 | - | 2,936 | 1,267 | - | 1,267 |
| 15 | Less: share of joint ventures' revenue | (309) | - | (309) | (144) | - | (144) |
| 15 | Less: share of associates' revenue | (694) | - | (694) | (355) | - | (355) |
| 2 | Group revenue | 1,933 | - | 1,933 | 768 | - | 768 |
| 8 | Cost of sales | (1,565) | 52 | (1,513) | (637) | - | (637) |
| Gross profit | 368 | 52 | 420 | 131 | - | 131 | |
| 8 | Other operating income | 64 | 58 | 122 | 56 | - | 56 |
| 8 | Other operating expenses | (129) | - | (129) | (78) | 11 | (67) |
| 2/15 | Share of results of joint ventures and associates | 198 | - | 198 | 113 | - | 113 |
| Profit from operations | 501 | 110 | 611 | 222 | 11 | 233 | |
| 8 | Disposal of investments | - | 10 | 10 | - | 4 | 4 |
| 4 | Finance income | 53 | - | 53 | 30 | - | 30 |
| 5/8 | Finance expenses | (255) | - | (255) | (107) | (31) | (138) |
| Net financing costs | (202) | - | (202) | (77) | (31) | (108) | |
| Profit before tax | 299 | 120 | 419 | 145 | (16) | 129 | |
| 8/9 | Income tax expense | (55) | (34) | (89) | (25) | - | (25) |
| 3 | Profit for the year | 244 | 86 | 330 | 120 | (16) | 104 |
| Attributable to: | |||||||
| Minority interests | 45 | - | 45 | 8 | (2) | 6 | |
| Equity holders of the parent | 199 | 86 | 285 | 112 | (14) | 98 | |
| 11 | Earnings per share: | ||||||
| Basic | 13.5p | 19.4p | 8.6p | 7.5p | |||
| Diluted | 13.0p | 18.5p | 8.5p | 7.4p | |||
Following the implementation of IFRS, the Group has decided to continue with its separate presentation of certain items as exceptional. These are items which, in the judgement of the Directors, need to be disclosed separately, by virtue of their size or incidence in order for the reader to obtain a proper understanding of the financial information (refer to note 8).
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