Five year summary

 

Results
Year ended 31 December
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Turnover 7,481 7,217 9,933 12,611 14,315
           
Operating profit/(loss) before exceptional charges and goodwill amortisation, including share of joint ventures and associates:          
         
British Gas residential     164 (46) 244
Centrica Business Services     36 44 65
Centrica energy management group (CEMG)     308 573 520
  262 476 508 571 829
The AA 3 19 72 73
Goldfish Bank (12) (14) (15) (32) (40)
One.Tel 4 2
Centrica North America 8 68 63
Other operations (37) (41) 6 (4) 5
  213 424 526 679 932
           
Exceptional items (85) (136) (14) (80) (35)
Goodwill amortisation (13) (60) (88) (123)
           
Profit attributable to the group 91 182 335 323 478
 
  Pence Pence Pence Pence Pence
Earnings per ordinary share 2.1 4.3 8.4 8.1 11.4
Adjusted earnings per ordinary share(i) 4.0 7.9 10.2 12.1 15.2
 
Cash flows
Year ended 31 December
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Cash inflow from operating activities before exceptional payments 870 1,453 1,139 869 733
Exceptional payments (211) (135) (76) (44) (16)
Acquisitions and disposals (101) (1,162) (590) (607) (935)
Cash inflow/(outflow) before use of liquid resources and financing 332 (690) 55 (342) (918)
 
Assets and liabilities
as at 31 December
1998
£m
1999
£m
2000
£m
2001
£m
2002
£m
Intangible fixed assets 10 992 1,309 1,524 1,813
Tangible fixed assets and fixed asset investments 1,937 1,913 1,993 2,225 2,865
Net current assets/(liabilities) 421 (346) (469) (397) (108)
Long term creditors and provisions (1,483) (1,592) (1,535) (1,816) (2,168)
Net assets 885 967 1,298 1,536 2,402
           
(Debt), net of cash and money market investments:          
Goldfish Bank (610) (430)
Other businesses – non-recourse debt (196)
Other businesses – recourse debt 223 (127) (117) (433) (529)
  223 (127) (117) (1,043) (1,155)
Prior year numbers have been restated, as far as practicable, to reflect the revisions to the activities in the different segments that took place during the year, as disclosed in note 3 to the financial statements. The analysis between British Gas residential, Centrica Business Services and Centrica energy management group is not available for 1998 and 1999.
Prior years have been restated for changes in accounting policies. 1998 and 1999 were restated on implementation of FRS 12 Provisions, contingent liabilities and contingent assets in 1999. On implementation in 2001 of FRS 19 Deferred Tax and mark to market accounting for energy trading derivative financial instruments, values for 2000 were restated but not those for 1998 and 1999.
Goldfish Bank included certain financial service activities under the British Gas brand until 1 April 2000. From that date, the activities transferred to AA personal finance.
(i) Adjusted earnings per share exclude exceptional charges and goodwill amortisation.


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