© Rolls-Royce Group plc 2004
Legal information
  prev: Group five year review next: Balance sheets back: Financial statements menu |
|
  pdf [138k] |
||
|
|
|
|
|
|
|
| Notes | Continuing operations before exceptional items £m | Exceptional Items1 £m |
Total 2003 £ m |
Total 2002 £m |
||
| Turnover: Group and share of joint ventures | 6,038 | — | 6,038 | 6,072 | ||
| Sales to joint ventures | 936 | — | 936 | 948 | ||
| Less share of joint ventures' turnover | (1,329) | — | (1,329) | (1,232) | ||
| Group turnover | 2 | 5,645 | — | 5,645 | 5,788 | |
| Cost of sales | (4,665) | (49) | (4,714) | (4,915) | ||
| Gross profit | 980 | (49) | 931 | 873 | ||
| Other operating income | 3 | 153 | — | 153 | 158 | |
| Commercial, marketing and product support costs | (290) | (2) | (292) | (287) | ||
| General and administrative costs | (285) | (3) | (288) | (279) | ||
| Research and development (net)* | (281) | — | (281) | (297) | ||
| Group operating profit | 277 | (54) | 223 | 168 | ||
| Share of operating profit of joint ventures | 52 | — | 52 | 66 | ||
| Profit/(loss) on sale or termination of businesses | 32 | 6 | — | 6 | (22) | |
| Loss on sale of fixed assets | (11) | — | (11) | — | ||
| Profit on ordinary activities before interest | 2 | 324 | (54) | 270 | 212 | |
| Net interest payable | - Group | 4 | (66) | — | (66) | (72) |
| - joint ventures | (24) | — | (24) | (35) | ||
| Profit on ordinary activities before taxation | 3 | 234 | (54) | 180 | 105 | |
| Taxation | 5 | (81) | 17 | (64) | (52) | |
| Profit on ordinary activities after taxation | 153 | (37) | 116 | 53 | ||
|
|
|
||||
| Equity minority interests in subsidiary undertakings | — | — | ||||
|
|
|
||||
| Profit attributable to ordinary shareholders | 116 | 53 | ||||
|
|
|
||||
| Dividends** | 6 | (53) | (133) | |||
|
|
|
||||
| Transferred to/(from) reserves | 26 | 63 | (80) | |||
|
|
|
||||
*Research and development (gross) |
(619) | (590) | ||||
**Payment to shareholders (see Accounting policies - B Shares) |
(137) | (133) | ||||
Earnings per ordinary share: |
7 | |||||
| Underlying | 12.20p | 11.10p | ||||
| Basic | 7.04p | 3.29p | ||||
| Diluted basic | 6.94p | 3.26p | ||||
1 Exceptional items are analysed in note 3. In 2002 exceptional items amounted to £75m. |
||||||
As permitted by the Companies Act 1985, a separate profit and loss account for the Company has not been included in these financial statements. |
||||||
There have been no material acquisitions or material discontinued operations in 2003 or 2002. |
||||||