for the years ended 31 March

	Notes	2004   US$m	2003 Restated US$m
Turnover (including share of associates’ turnover)	2, 3	12,645	8,984
Less: share of associates’ turnover		(1,279)	(817)
Group turnover	3	11,366	8,167
Net operating costs	4	(10,043)	(7,364)
Group operating profit		1,323	803
Share of operating profit of associates	3	189	126
Share of associate’s profit on disposal of CSD business and brands in Morocco and a brand in Angola	5	7	–
Profit on disposal of trademarks	5	13	–
Surplus on pension fund of disposed operation	5	47	–
Profit on partial disposal of subsidiary	5	–	4
Profit on ordinary activities before interest and taxation		1,579	933
Net interest payable	6	(188)	(163)
Group		(152)	(142)
Associates		(36)	(21)
Profit on ordinary activities before taxation		1,391	770
Taxation on profit on ordinary activities	7	(579)	(349)
Profit on ordinary activities after taxation		812	421
Equity minority interests		(167)	(125)
Profit for the financial year	24	645	296
Dividends	10	(358)	(283)
Retained profit for the financial year		287	13
Basic earnings per share (US cents)	11	54.1	27.5
Headline earnings per share (US cents)	11	76.7	52.6
Adjusted basic earnings per share (US cents)	11	77.6	54.0
Diluted earnings per share (US cents)	11	53.0	27.4
Adjusted diluted earnings per share (US cents)	11	75.2	52.7
Dividends per share (US cents)		30.0	25.0

During the year and the previous year, the group made a number of acquisitions and increased its shareholdings in several subsidiaries. As disclosed in note 29, these acquisitions, with the exception of the acquisition of the Miller Brewing Company in July 2002, were material to individual business segments, but they were not material to the group as a whole. All operations are continuing.

There is no material difference between the results disclosed above and those disclosable on an unmodified historical cost basis.

The notes form part of the financial statements.

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