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For the years ended December 31
| Income statement/Profit and loss account | Notes | 2005 £m |
2004 £m |
20031 £m |
20021 £m |
20011 £m |
|---|---|---|---|---|---|---|
| Revenue/Group turnover | 6,603 | 5,947 | 5,645 | 5,788 | 6,328 | |
| Profit before net research and development and share of joint venture profit | 1,113 | 686 | 499 | 443 | 587 | |
| Research and development (net) | 1 | (282) | (288) | (281) | (297) | (358) |
| Share of profit of joint ventures | 2 | 46 | 19 | 52 | 66 | 82 |
| Profit before financing costs/profit on ordinary activities before interest | 877 | 417 | 270 | 212 | 311 | |
| Net financing costs/interest payable | 3 | (400) | (53) | (90) | (107) | (119) |
| Profit before taxation | 477 | 364 | 180 | 105 | 192 | |
| Taxation | 4 | (130) | (100) | (64) | (52) | (86) |
| Profit for the period | 347 | 264 | 116 | 53 | 106 | |
Attributable to: |
||||||
| Equity holders of the parent | 350 | 263 | 116 | 53 | 106 | |
| Minority interest | (3) | 1 | — | — | — | |
| 347 | 264 | 116 | 53 | 106 | ||
- Amounts as previously reported under UK GAAP. The impact of the transition from UK GAAP to IFRS is included in note 33 to the financial statements.
| Notes | |||||
|---|---|---|---|---|---|
1 Research and development (gross) |
(663) | (601) | (619) | (590) | (636) |
2 Under IFRS, share of profit of joint ventures is net of share of interest and taxation charges of |
(34) | (31) | — | — | — |
3 Under UK GAAP, interest payable includes the joint ventures share of |
— | — | (24) | (35) | (42) |
4 Under UK GAAP, taxation includes the joint ventures share of |
— | — | (10) | (9) | (9) |
Earnings per ordinary share: |
|||||
| Basic - IFRS | 20.11p | 15.56p | — | — | — |
| Diluted - IFRS | 19.31p | 15.05p | — | — | — |
| Underlying - UK GAAP | — | — | 12.20p | 11.10p | 20.20p |
| Basic - UK GAAP | — | — | 7.04p | 3.29p | 6.67p |
Payments to shareholders per ordinary share |
8.72p | 8.18p | 8.18p | 8.18p | 8.18p |
| Balance sheet | 2005 £m |
2004 £m |
20031 £m |
20021 £m |
20011 £m |
|---|---|---|---|---|---|
| Assets | 9,319 | 8,114 | 7,414 | 7,296 | 7,334 |
| Liabilities | (7,814) | (6,668) | (5,271) | (5,262) | (5,270) |
| 1,505 | 1,446 | 2,143 | 2,034 | 2,064 | |
| Called-up share capital | 352 | 346 | 333 | 323 | 320 |
| Reserves | 1,147 | 1,096 | 1,807 | 1,709 | 1,742 |
| Equity attributable to equity holders of the parent | 1,499 | 1,442 | 2,140 | 2,032 | 2,062 |
| Minority interest | 6 | 4 | 3 | 2 | 2 |
| 1,505 | 1,446 | 2,143 | 2,034 | 2,064 |
- Amounts as previously reported under UK GAAP.
| Cash flow | 2005 £m |
2004 £m |
20031 £m |
20021 £m |
20011 £m |
|---|---|---|---|---|---|
| Cash inflow from operating activities | 1,060 | 610 | 673 | 611 | 418 |
| Cash outflow from investing activities - IFRS | (289) | (237) | — | — | — |
| Capital expenditure and financial investment - UK GAAP | — | — | (198) | (381) | (181) |
| Aquisitions and disposals - UK GAAP | — | — | (16) | (20) | 79 |
| Cash (outflow)/inflow from financing activities - IFRS | (443) | 189 | — | — | — |
| Interest, dividends and taxation - UK GAAP | — | — | (176) | (222) | (147) |
| Management of liquid resources - UK GAAP | — | — | (90) | 217 | (162) |
| Financing - UK GAAP | — | — | (17) | (81) | 113 |
| Increase in cash and cash equivalents (IFRS)/Increase in cash (UK GAAP) | 328 | 562 | 176 | 124 | 120 |
- Amounts as previously reported under UK GAAP.