Notes to the
Accounts

9 Earnings per share
In order to show results from operations on a consistent basis, an adjusted earnings per share is presented which excludes certain items as set out below. The company's definition of adjusted earnings per share may not be comparable to other similarly titled measures reported by other companies.
Adjustments
		2004		2003
	Note	£m	Earnings per share pence	£m	Earnings per share pence
Profit for the financial year		88	11.1	55	6.9
- Non-operating items		(9)	(1.2)	(6)	(0.8)
- Goodwill amortisation	2b	224	28.1	264	33.3
Taxation on above items		(55)	(6.9)	(53)	(6.6)
Minority interest share of above items		(9)	(1.1)	(6)	(0.8)
Adjusted earnings		239	30.0	254	32.0
Diluted earnings		88	11.0	55	6.9
Weighted average number of shares (millions) - for basic earnings and adjusted earnings		795.6		794.4
Effect of dilutive share options		1.1		0.9
Weighted average number of shares (millions) - for diluted earnings		796.7		795.3

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