Summary consolidated profit and loss account
| |
|
|
2004 |
|
|
|
|
|
2003 |
|
| |
Statutory
£m |
|
Growth*
CER% |
|
Business performance
(restated)
£m |
|
Merger, restructuring and
disposal of subsidiaries
£m |
|
Statutory
(restated)
£m |
|
Turnover |
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals |
17,146 |
|
1 |
|
18,181 |
|
- |
|
18,181 |
|
|
Consumer Healthcare |
3,213 |
|
3 |
|
3,260 |
|
- |
|
3,260 |
|
Total turnover |
20,359 |
|
1 |
|
21,441 |
|
- |
|
21,441 |
|
Cost of sales |
(4,309 |
) |
7 |
|
(4,188 |
) |
(356 |
) |
(4,544 |
) |
| Selling, general and administrative expenditure |
(7,061 |
) |
(2 |
) |
(7,579 |
) |
(18 |
) |
(7,597 |
) |
Trading profit |
6,150 |
|
(1 |
) |
6,904 |
|
(395 |
) |
6,509 |
|
Other operating income/(expense) |
(60 |
) |
|
|
(133 |
) |
- |
|
(133 |
) |
Disposal of interests in associates |
138 |
|
|
|
- |
|
- |
|
- |
|
Profits of joint ventures and associates |
95 |
|
|
|
93 |
|
- |
|
93 |
|
(Loss)/profit on disposal of products and businesses |
(1 |
) |
|
|
- |
|
5 |
|
5 |
|
Profit before taxation |
6,119 |
|
2 |
|
6,703 |
|
(390 |
) |
6,313 |
|
Profit after taxation |
4,418 |
|
1 |
|
4,865 |
|
(281 |
) |
4,584 |
|
Minority interests |
(114 |
) |
|
|
(94 |
) |
- |
|
(94 |
) |
Dividends |
– Per share |
42.0 |
p |
|
|
|
|
|
|
41.0 |
p |
* During the years 2000 to 2003, business performance was the primary management performance measure and was presented after excluding merger items, integration and restructuring costs and disposal of businesses. For 2004, the Group is reporting results on a statutory basis. Management considers that the comparison of 2004 statutory results and 2003 business performance gives the most appropriate indication of the group's performance for the period.
Summary consolidated balance sheet
Fixed assets |
|
|
Current assets |
13,633 |
|
|
12,625 |
|
|
Creditors: amounts due within one year |
|
|
Net current assets |
4,911 |
|
|
4,154 |
|
|
Total assets less current liabilities |
13,856 |
|
|
12,729 |
|
|
Creditors: amounts due after one year |
(4,625 |
) |
|
(3,883 |
) |
|
Provisions for liabilities and charges |
(3,029 |
) |
|
(3,042 |
) |
|
Net assets |
6,202 |
|
|
5,804 |
|
|
Capital and reserves |
|
|
|
|
|
|
Equity shareholders' funds |
5,925 |
|
|
5,059 |
|
|
Minority interests |
277 |
|
|
745 |
|
|
Capital employed |
6,202 |
|
|
5,804 |
|
|
Summary consolidated cash flow statement
Net cash inflow from operating activities |
6,527 |
|
7,005 |
|
Dividends from joint ventures and associated undertakings |
11 |
|
1 |
|
Returns on investments and servicing of finance |
(252 |
) |
(231 |
) |
Taxation paid |
(1,583 |
) |
(1,917 |
) |
Capital expenditure and financial investment |
(1,035 |
) |
(954 |
) |
Acquisitions and disposals |
(69 |
) |
(12 |
) |
Equity dividends paid |
(2,475 |
) |
(2,333 |
) |
Management of liquid resources and financing |
(867 |
) |
(1,586 |
) |
Increase/(decrease) in cash in the year |
257 |
|
(27 |
) |
|
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