ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2012

Financial statements

Consolidated income statement

 

for the year ended 31 March

Re-presented*
2012 2011
Note £m £m
Continuing operations
Revenue 1, 2 1,564.9 1,513.3
Employee benefits expense:
  excluding restructuring costs 3 (135.4) (142.8)
  restructuring costs 3 (2.6) (3.1)
Total employee benefits expense 3 (138.0) (145.9)
Other reorganisation costs - (13.1)
Other operating costs 4 (388.0) (358.1)
Other income 4 4.8 4.9
Depreciation and amortisation expense 4 (297.8) (290.5)
Infrastructure renewals expenditure (154.4) (130.4)
Total operating expenses (973.4) (933.1)
Operating profit 4 591.5 580.2
Investment income 5 4.4 2.8
Finance expense 6 (315.5) (255.9)
Investment income and finance expense (311.1) (253.1)
Profit before taxation 280.4 327.1
Current taxation charge (45.5) (34.6)
Deferred taxation charge (28.1) (37.0)
Deferred taxation credit - change in taxation rate 104.6 99.0
Taxation 7 31.0 27.4
Profit after taxation from continuing operations 311.4 354.5
Discontinued operations
Profit after taxation from discontinued operations 8 5.1 103.7
Profit after taxation 316.5 458.2
Earnings per share
from continuing and discontinued operations
Basic 9 46.4p 67.2p
Diluted 9 46.4p 67.2p
Earnings per share
from continuing operations
Basic 9 45.7p 52.0p
Diluted 9 45.6p 52.0p
Dividend per ordinary share 10 32.01p 30.00p

* The comparatives have been re-presented to include loss on disposal of property, plant and equipment of £2.7 million within other operating costs rather than other income, as previously presented, as this better reflects the nature of the expenditure.