|
|
  |
| |
 |
 |
|
|
Business
performance |
Merger,
restructuring and disposal of subsidiaries |
Statutory |
|
| |
Summary consolidated
profit and loss account |
2002
£m |
|
2001
(restated)
£m |
|
CER
% |
|
2002
£m |
|
2001
(restated)
£m |
|
2002
£m |
|
2001 (restated)
£m |
|
 |
| |
Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
. Pharmaceuticals |
17,995 |
|
17,205 |
|
8 |
|
- |
|
- |
|
17,995 |
|
17,205 |
|
| |
. Consumer Healthcare |
3,217 |
|
3,284 |
|
2 |
|
- |
|
- |
|
3,217 |
|
3,284 |
|
|
| |
Total sales |
21,212 |
|
20,489 |
|
7 |
|
- |
|
- |
|
21,212 |
|
20,489 |
|
|
| |
Cost of sales |
(4,243 |
) |
(4,430 |
) |
(2 |
) |
(366 |
) |
(303 |
) |
(4,609 |
) |
(4,733 |
) |
| |
Selling, general and administrative
expenditure |
(7,543 |
) |
(7,451 |
) |
5 |
|
(498 |
) |
(957 |
) |
(8,041 |
) |
(8,408 |
) |
| |
Research & development expenditure |
(2,732 |
) |
(2,555 |
) |
9 |
|
(168 |
) |
(96 |
) |
(2,900 |
) |
(2,651 |
) |
|
| |
Trading profit
|
6,694 |
|
6,053 |
|
15 |
|
(1,032 |
) |
(1,356 |
) |
5,662 |
|
4,697 |
|
| |
Other income and expenses |
(111 |
) |
37 |
|
|
|
21 |
|
(296 |
) |
(90 |
) |
(259 |
) |
| |
Income from associates |
75 |
|
167 |
|
|
|
- |
|
- |
|
75 |
|
167 |
|
| |
Net interest payable |
(141 |
) |
(88 |
) |
|
|
- |
|
- |
|
(141 |
) |
(88 |
) |
|
| |
Profit before taxation |
6,517 |
|
6,169 |
|
11 |
|
(1,011 |
) |
(1,652 |
) |
5,506 |
|
4,517 |
|
| |
Taxation |
(1,760 |
) |
(1,655 |
) |
|
|
299 |
|
322 |
|
(1,461 |
) |
(1,333 |
) |
|
| |
Profit after taxation
|
4,757 |
|
4,514 |
|
|
|
(712 |
) |
(1,330 |
) |
4,045 |
|
3,184 |
|
| |
Minority interests |
(110 |
) |
(97 |
) |
|
|
- |
|
- |
|
(110 |
) |
(97 |
) |
| |
Preference share dividends |
(20 |
) |
(34 |
) |
|
|
- |
|
- |
|
(20 |
) |
(34 |
) |
|
| |
Earnings |
4,627 |
|
4,383 |
|
11 |
|
(712 |
) |
(1,330 |
) |
3,915 |
|
3,053 |
|
|
| |
Earnings per share |
78.3 |
p |
72.3 |
p |
13 |
|
|
|
|
|
66.2 |
p |
50.3 |
p |
|
| |
Dividends |
|
|
|
|
|
|
|
|
|
|
2,346 |
|
2,356 |
|
|
| To illustrate "Business
performance", which is the primary measure used by management,
merger items, integration and restructuring costs and
disposal of businesses have been excluded and an adjusted
EPS presented. Business performance growth is at constant
exchange rates. |
|
|
|
|
2001 |
|
| |
|
2002 |
|
(restated) |
|
| |
Summary consolidated balance sheet |
£m |
|
£m |
|
|
| |
Fixed assets |
11,578 |
|
11,920 |
|
| |
Current assets |
10,749 |
|
10,423 |
|
| |
Creditors: amounts due within one year |
(8,808 |
) |
(9,430 |
) |
|
| |
Net current assets |
1,941 |
|
993 |
|
|
| |
Total assets less current liabilities |
13,519 |
|
12,913 |
|
|
| |
Creditors: amounts due after one year |
(3,298 |
) |
(2,298 |
) |
| |
Provision for liabilities and charges |
(2,833 |
) |
(2,363 |
) |
|
| |
Net assets |
7,388 |
|
8,252 |
|
|
| |
Equity shareholders' funds |
6,581 |
|
7,390 |
|
| |
Minority interests |
807 |
|
862 |
|
|
| |
Capital employed |
7,388 |
|
8,252 |
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
2001 |
|
| |
|
2002 |
|
(restated) |
|
| |
Summary consolidated cash flow statement |
£m |
|
£m |
|
|
| |
Net cash inflow from operating activities |
7,255 |
|
6,507 |
|
| |
Dividends from joint ventures and associated
undertakings |
2 |
|
- |
|
| |
Returns on investments and servicing
of finance |
(237 |
) |
(191 |
) |
| |
Taxation paid |
(1,633 |
) |
(1,717 |
) |
| |
Capital expenditure and financial investment |
(1,120 |
) |
(1,779 |
) |
| |
Acquisitions and disposals |
(20 |
) |
(657 |
) |
| |
Equity dividends paid |
(2,327 |
) |
(2,325 |
) |
| |
Management of liquid resources and
financing |
(1,515 |
) |
(450 |
) |
|
| |
Increase/(decrease) in cash in the
year |
405 |
|
(612) |
|
|
|
|
| |
|
|
