Interim Report 2005

Financial Summary IFRS

2005

2004

Revenue

- including joint ventures

£1,011 m

£1,010 m

- excluding joint ventures

£939 m

£952 m

Underlying profit before tax*
Underlying earnings per share*
Profit before tax

£20.1 m

7.1 p

£18.4 m

£18.9 m

6.6 p

£44.1 m

Basic earnings per share

6.3 p

17.9 p

* before

- non-operating items, amortisation of intangible assets and goodwill impairment: a £1.7 million charge in 2005; a net profit of £18 million in 2004

- a one-off increase in 2004 of £7.2 million relating to the transfer of rail maintenance to Network Rail

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