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Financial Results
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Financial Highlights
2004
£m
2003
£m
Change
%
Turnover
- statutory 572.7 550.2 +4.1%
- like-for-like (1) 572.7 542.1 +5.6%
Group operating profit pre exceptional items (2)
- statutory 120.2 101.4 +18.5%
- like-for-like (1) 120.2 99.7 +20.6%
Group operating profit post exceptional items
- statutory 116.7 100.3 +16.4%
- like-for-like (1) 116.7 98.6 +18.4%
Profit before tax pre exceptional items (3) 101.8 80.4 +26.6%
Profit before tax post exceptional items 100.8 79.4 +27.0%
       
Per share Pence Pence
Underlying earnings pre exceptional items 23.8p 19.0p +25.3%
Basic earnings post exceptional items 23.8p 18.9p +25.9%
Dividend per share 5.9p 5.5p +7.3%

(1) Turnover and operating profit adjusted to exclude the results of Wheatley Dyson & Son Limited which was disposed of in February 2003 and the Irish regional newspaper titles in Belfast, Derry and Donegal which were disposed of in January 2004. During the 26 weeks ended 27 June 2004 these businesses achieved turnover of £nil (2003: £8.1 million) and operating profit of £nil (2003: £1.7 million).
(2) Excludes operating exceptional items of £3.5 million pre tax (2003: £1.1 million).
(3) Excludes net exceptional items of £1.0 million pre tax (2003: £1.0 million).
(4) Accounting policies used in the preparation of the unaudited financial information for the 26 weeks ended 27 June 2004 are consistent with those set out in the Group's financial statements for the 52 weeks ended 28 December 2003. The 2003 interim results have been restated on this basis. (See note 13(a) on page 20.)

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Index
bulletFinancial Highlights
bulletChief Executive's review
bulletReview of operations
bulletNationals division
bulletRegionals division
bulletAdvertising
bulletSports division
bulletMagazines and Exhibitions
bulletArrow Interactive
bulletConsolidated profit and loss account (unaudited)
bulletConsolidated statement of total recognised gains and losses (unaudited)
bulletConsolidated balance sheet (unaudited)
bulletOutlook
bulletConsolidated cash flow statement (unaudited)
bulletCentral Costs
Notes
bullet1. Basis of preparation
bullet2. Turnover
bullet3. Group operating profit
bullet4. Exceptional items
bullet5.Tax on profit on ordinary activities
bullet6. Dividends
bullet7. Earnings per ordinary share
bullet9. Reconciliation of operating profit to net cash inflow from operating activities
bullet8. Pensions
bullet10. Analysis of net debt
bullet11. Reconciliation of movements in consolidated shareholders' funds
bullet12. Sale of subsidiary undertakings
bullet13. Restatement of comparatives
bullet14. Statutory information
bulletIndependent review report to Trinity Mirror plc
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