Consolidated profit and loss accounts

Bottling AppletiseBrewery scenePilsener beer

 

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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