Financial highlights 31 July 2003
| | 2003
£m | 2002
£m | change
% |
| Turnover | | | |
| - actual | 551.6 | 559.6 | -1.4% |
| - like-for-like (1) | 551.5 | 553.6 | -0.4% |
| Group operating profit pre exceptional items (2) | | | |
| - actual | 101.4 | 96.3 | +5.3% |
| - like-for-like (1) | 101.4 | 95.8 | +5.8% |
| Group operating profit post exceptional items | | | |
| - actual | 100.3 | 89.9 | +11.6% |
| - like-for-like (1) | 100.3 | 89.4 | +12.2% |
| Profit before tax pre exceptional items (3) | 80.4 | 78.4 | +2.6% |
| Profit before tax post exceptional items | 79.4 | 72.1 | +10.1% |
| | | |
| Per share | Pence | Pence | |
| Underlying earnings pre exceptional items | 19.0p | 18.4p | +3.3% |
| Basic earnings post exceptional items | 18.9p | 16.9p | +11.8% |
| Dividend per share | 5.5p | 5.3p | +3.8% |
| (1) | Adjusted to exclude the results of Post Publications Limited and Ethnic Media Group Limited which were disposed of in June 2002, Channel One which ceased trading in November 2002 and Wheatley Dyson & Son Limited which was disposed of in February 2003. During the 26 weeks ended 29 June 2003 these businesses achieved operating profit of £nil (2002: £0.5 million). |
| (2) | Excludes operating exceptional items of £1.1 million pre tax (2002: £6.4 million). |
| (3) | Excludes net exceptional items of £1.0 million pre tax (2002: £6.3 million). |
| (4) | Accounting policies used in the preparation of the unaudited financial information for the 26 weeks ended 29 June 2003 are consistent with those set out in the Group's financial statements for the 52 weeks ended 29 December 2002. |
| Within the following Chief Executive Review and review of operations, all figures are presented on a like-for-like(1) pre exceptional items(2),(3) basis unless otherwise specified. For 2003, and for the 52 weeks ended 29 December 2002 central costs have been separately disclosed within the segmental analysis of operating profit and therefore the comparatives for the 26 weeks ended 30 June 2002 have been restated to reflect this change. This change in presentation has no impact on the Group or total operating profit in 2003 or 2002. |
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