Half-yearly analyses of profit

The figures shown below have been produced using average rates of exchange on a half-yearly basis since the beginning of the year. Thus the discrete half year to 30 June has not been restated for subsequent movements in foreign exchange rates during the year, which are reflected in the results for the subsequent half year to 31 December.

  6 months to   Year to 31 Dec 2010
£m
  30 Jun 2010
£m
  31 Dec 2010
£m
 
Profit from operations 2,271   2,047   4,318
Analysed as:          
– adjusted profit from operations 2,460 2,524   4,984
– restructuring and integration costs (158)   (153)   (311)
– amortisation of trademarks (31)   (31)   (62)
– impairment of trademarks   (44)   (44)
– goodwill impairment   (249)   (249)
2,271   2,047   4,318
Net finance costs (231)   (249)   (480)
Share of post-tax results of associates and joint ventures 239   311 550
Analysed as:  
– adjusted share of post-tax results of associates and joint ventures  306   316 622
– trademark amortisation and impairments     (1) (1)
– Canadian settlements (60)   1 (59)
– dilution in shareholding   (9) (9)
– restructuring costs (7)   4 (3)
239   311 550
           
Profit before taxation 2,279   2,109   4,388
           
Earnings per share          
Basic 76.9p    68.3p   145.2p
Adjusted diluted 87.1p    88.6p   175.7p
6 months to    Year to 31 Dec 2009
£m
30 Jun 2009
£m
  31 Dec 2009
£m
 
Profit from operations 2,111   1,990   4,101
Analysed as:          
– adjusted profit from operations 2,164   2,297   4,461
– restructuring and integration costs (29)   (275)   (304)
– amortisation of trademarks (26)   (32)   (58)
– gains on disposal of businesses and trademarks 2       2
  2,111   1,990   4,101
Net finance costs (219)   (285)   (504)
Share of post-tax results of associates and joint ventures 231   252   483
Analysed as:          
– adjusted share of post-tax results of associates and joint ventures 279   262   541
– trademark impairments (48)   (17)   (65)
– health plan credit     16   16
– restructuring costs      (9)   (9)
231   252   483
           
Profit before taxation 2,123   1,957   4,080
           
Earnings per share          
Basic 73.2p    63.8p    137.0p 
Adjusted diluted  77.3p    75.7p    153.0p 

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