| 2002
£m | 2001(1)
£m | %
change
|
| Turnover | | | |
| - actual | 1,092.2 | 1,131.1 | (3.4%) |
| - like-for-like(2) | 1,087.4 | 1,120.2 | (2.9%) |
| | | |
| Group operating profit pre exceptional items | | | |
| - actual | 191.0 | 190.5 | 0.3% |
| - like-for-like(2) | 190.6 | 189.9 | 0.3% |
| | | |
| Group operating profit post exceptional items(3) | | | |
| - actual | 59.8 | 22.5 | 166.7% |
| - like-for-like(2) | 59.4 | 21.9 | 171.7% |
| | | |
| Profit before tax pre exceptional items | 155.5 | 152.6 | 1.9% |
| Profit/(loss) before tax post exceptional items(4) | 26.2 | (14.2) | 285.1% |
| | | |
| Per share | Pence | Pence | |
| Underlying earnings pre exceptional items | 37.1p | 36.5p | 1.6% |
| Basic loss post exceptional items(4) | (6.6)p | (19.1)p | 65.4% |
| Dividend | 17.6p | 17.6p | - |
| (1) | the results are stated after the adoption in 2002 of FRS 17 Retirement Benefits and all comparatives have been restated accordingly |
| (2) | adjusted to exclude the results of Post Publications Limited and Ethnic Media Group Limited which were disposed of in June 2002 |
| (3) | Group operating exceptional items of £131.2 million (2001: £168.0 million) include a £125.0 million (2001: £150.0 million) impairment charge against the carrying value of the publishing rights and titles of the Regional titles in the Midlands. In 2001 the impairment charge of £100.0 million related to the National titles and £50.0 million related to the Regional titles in the Midlands |
| (4) | total exceptional items before tax of £129.3 million (2001: £166.8 million), and after tax of £127.5 million (2001: £161.6 million), reflect the operating items in note 3 above, together with the net profit on the disposal of subsidiary undertakings and three magazine titles and the Groups share of associates non operating exceptional items |
Within the following review of operations, all figures are presented on a like-for-like(1),(2) pre exceptional items basis unless otherwise specified. For 2002, central costs are being separately disclosed within the segmental analysis of operating profit and therefore the comparatives for 2001 have been restated to reflect the change. This change in presentation has no impact on the Group or total operating profit in 2001 and 2002. |
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