• PBIT up 48% to £326 million

• Earnings per share up 75% to 12.8p

• Operating cash flow of £333 million

• 1,950 MW new capacity in the US

• Improved wholesale electricity pricing in Australia

• Rebalanced European portfolio with UFG sale and Rugeley acquisition

		Year ended 31 December
		2001		2000
				(Proforma)
		£m		£m
Turnover		1,103		1,002
Earnings before interest, tax, amortisation and depreciation (EBITDA)**		420		274
Profit before interest and tax (PBIT)**		326		221
Earnings per share - basic		12.8p		7.3p
Operating cash flow		333		11*
Capital expenditure		406		576*
		As at		As at
		31 December		31 December
		2001		2000
		£m		£m
Net assets		1,852		1,735
Net debt		897		1,071
Gearing		48%		62%
Debt capitalisation		33%		38%
* Cash flow comparative figures are given for the nine-month period ended 31 December 2000 ** Calculated pre-exceptional items