| 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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© Centrica 2003 Disclaimer Annual Report published 25 March 2003