: consolidated profit and loss account :
year ended 31 dec 1999
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all figures in
£ millions
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1999
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1998
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operating
activities
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other
items
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operating
activities
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other
items
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total
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total
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note
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Sales
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Continuing operations
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3,304
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––
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3,304
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2,251
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––
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2,251
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Acquisitions
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28
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––
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28
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––
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––
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––
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3,332
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––
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3,332
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2,251
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––
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2,251
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Discontinued operations
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––
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––
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––
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144
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––
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144
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Total sales
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3,332
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––
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3,332
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2,395
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––
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2,395
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Cost of sales
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(1,414)
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(10)
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(1,424)
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(1,127)
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(49)
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(1,176)
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Gross profit
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1,918
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(10)
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1,908
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1,268
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(49)
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1,219
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Net operating expenses – before goodwill amortisation
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(1,441)
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(90)
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(1,531)
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(930)
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(78)
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(1,008)
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Net operating expenses – goodwill amortisation
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(130)
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––
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(130)
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(12)
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––
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(12)
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Net operating expenses
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(1,571)
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(90)
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(1,661)
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(942)
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(78)
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(1,020)
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Operating profit
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Continuing operations – Group
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350
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(100)
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250
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303
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(127)
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176
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Acquisitions – Group
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(3)
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––
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(3)
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––
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––
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––
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347
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(100)
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247
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303
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(127)
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176
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Discontinued operations – Group
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––
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––
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––
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23
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––
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23
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Total operating profit – Group
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347
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(100)
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247
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326
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(127)
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199
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Share of operating profit of associates:
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Continuing operations
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24
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––
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24
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11
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––
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11
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Acquisitions – after goodwill amortisation of £1m
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(1)
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––
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(1)
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––
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––
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––
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23
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––
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23
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11
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––
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11
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Discontinued operations
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48
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––
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48
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40
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––
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40
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Total share of operating profit of associates
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71
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––
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71
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51
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––
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51
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Total operating profit analysed between:
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Operating profit before internet enterprises and
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goodwill amortisation
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588
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(100)
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488
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389
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(127)
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262
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Internet enterprises
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(39)
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––
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(39)
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––
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––
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––
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Goodwill amortisation
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(131)
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––
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(131)
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(12)
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––
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(12)
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Total operating profit
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418
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(100)
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318
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377
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(127)
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250
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Continuing operations:
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Profit on sale of fixed assets and investments
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352
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142
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(Loss)/profit on sale of businesses and associates
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(44)
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50
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Discontinued operations:
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Profit on sale of businesses and associates
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––
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215
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308
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407
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Continuing operations:
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Profit on sale of businesses and associates
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by an associate
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1
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11
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Profit before interest
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627
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668
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Net interest payable – Group
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(145)
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(36)
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Net interest payable – associates
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(2)
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(3)
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Total net interest payable
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(147)
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(39)
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Profit before taxation
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480
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629
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Taxation
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(180)
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(188)
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Profit after taxation
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300
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441
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Equity minority interests
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(6)
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(4)
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Profit for the financial year
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294
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437
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Dividends on equity shares
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(138)
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(126)
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Profit retained
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156
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311
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Adjusted earnings per equity share before
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internet enterprises
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53.3p
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42.0p
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Adjusted earnings per equity share after
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internet enterprises
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48.5p
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42.0p
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Earnings per equity share
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48.2p
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74.1p
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Diluted earnings per equity share
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47.5p
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73.3p
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Dividends per equity share
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22.5p
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21.0p
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