Summary financial statements

Reed Elsevier PLC
Summary consolidated profit and loss account

for the year ended 31 December 2002		 2002
 £m		 2001
£m

Share of turnover of joint ventures 		   
2,656		  
2,412
    


Operating loss (before joint ventures)

Share of operating profit of joint ventures

      Before amortisation and exceptional items

      Amortisation and exceptional items

    


(1)



593

(331)

  


(1)



519

(317)

    


Operating profit including joint ventures

Non operating exceptional items (including £(6)m (2001: £14m) share of joint ventures)

Net interest (including £112m (2001: £87m) share of joint ventures)

    
261

(6)

(109) 		 
201

14

(75)		    


Profit on ordinary activities before taxation

Tax on profit on ordinary activities

    
146

(57)
  
140

(79)		    


Profit attributable to ordinary shareholders

Equity dividends paid and proposed

    
89

(143)		  
61

(132)		    

Retained loss taken to reserves 		   
(54)		  
(71)		    

Basic earnings per share

Diluted earnings per share

Adjusted earnings per share 		   
7.0p

7.0p

28.5p 		 
4.8p

4.8p

26.1p		    

Adjusted earnings per share is based upon Reed Elsevier PLC’s shareholders’ 52.9% economic interest in the adjusted profit attributable of the Reed Elsevier combined businesses.
     
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