for the year to 31 March 2003
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2003
2002
Notes
£m
£m
Interest receivable
Interest receivable and similar income arising from debt securities and
other fixed income securities held as financial fixed asset investments
Interest receivable on loan investments
4
96
113
Fixed rate dividends
4
17
19
113
132
Other interest receivable and similar income
5
34
46
147
178
Interest payable
6
(57
)
(114
)
Net interest income
90
64
Dividend income from equity shares
7
106
111
Share of net (losses)/profits of joint ventures
(1
)
9
Fees receivable
8
46
56
Other operating income
–
1
Total operating income
241
241
Administrative expenses and depreciation
9
(64
)
(121
)
Amortisation of goodwill
–
(2
)
Cost of changes to organisational structure
12
(5
)
(9
)
Profit on ordinary activities before tax
13
172
109
Tax on profit on ordinary activities
14
(32
)
(3
)
Profit for the year
140
106
Dividends
Interim
16
(29
)
(29
)
Final
16
(52
)
(49
)
Profit retained for the year
59
28
Earnings per share
Basic (pence)
17
22.9
p
17.4
p
Diluted (pence)
17
22.9
p
17.2
p
There is no material difference between the reported revenue and the revenue on an unmodified historical cost basis.
