Annual report homepage
 
for the year to 31 March 2003
 
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  Revenue     Capital     Total     Revenue   Capital   Total  
   
  2003     2003     2003     2002   2002   2002  
   
Notes
  £m     £m     £m     £m   £m   £m  
Capital profits  
                               
Realised profits/(losses) on disposal of investments           184     184         (39)   (39)  
Unrealised (losses) on revaluation of investments           (1,165)     (1,165)         (890)   (890)  
   
        (981)     (981)         (929)   (929)  
Total operating income before interest payable     298     10     308     355     355  
Interest payable     (57)     (53)     (110)     (114)   (6)   (120)  
   
  241     (1,024)     (783)     241   (935)   (694)  
Administrative expenses     (64)     (89)     (153)     (121)   (50)   (171)  
Amortisation of goodwill  
              (2)   (71)   (73)  
Cost of changes to organisational structure     (5)     (5)     (10)     (9)   (9)   (18)  
Return before tax and currency translation adjustment     172     (1,118)     (946)     109   (1,065)   (956)  
Tax     (32)     35     3     (3)   4   1  
Return for the year before currency translation adjustment  
  140     (1,083)     (943)     106   (1,061)   (955)  
Currency translation adjustment  
  6     2     8     (4)   (1)   (5)  
Total return  
  146     (1,081)     (935)     102   (1,062)   (960)  
   
                               
Total return per share  
                               
Basic (pence)  
  23.9 p   (177.1) p   (153.2) p   16.8 p (174.5) p (157.7) p
Diluted (pence)  
  23.9 p   (177.1) p   (153.0) p   16.7 p (173.3) p (156.6) p