Press Releases
2002/03 Preliminary Results including Fourth Quarter results to 31 March 2003
7 May 2003
- Full year earnings per share * of 33.71 pence, an increase of 29% year-on-year
- Dividends per share** for the year of 28.708 pence, up 5%
- Investment of £818 million, including £345 million for growth
- Year end net debt down 30% at £4.3 billion
- Dividend for each of the first three quarters of 2003/04 set at 4.75 pence per share with the balance of the total dividend to be set in the fourth quarter
| First Quarter | Full Year |
|---|
| 2001/02 | 2002/03 | £ Million | 2001/02 | 2002/03 |
|---|---|---|---|---|
| 1,537.3 | 1,454.8 | Turnover | 6,314.1 | 5,273.8 |
| 306.7 | 283.2 | Operating profit | 776.6 | 945.9 |
| 362.6 | 316.9 | Operating profit excluding goodwill & exceptionals | 944.1 | 1,084.9 |
| (1,206.0) | - | Exceptionals before interest & tax | (1,326.1) | - |
| (1,006.6) | 213.7 | Profit / (loss) before tax | (938.8) | 696.8 |
| 267.6 | 247.4 | Profit before tax excluding goodwill & exceptionals | 567.1 | 835.8 |
| (56.24) | 8.31 | Earnings / (loss) per share (pence) | (53.71) | 26.17 |
| 11.99 | 10.13 | Earnings / (loss) per share excluding goodwill & exceptionals (pence) | 26.12 | 33.71 |
| 6.835 | 7.177 | Dividends per share** (pence) | 27.34 | 28.708 |
* excluding goodwill amortisation and exceptional items
** cash dividends, previous year excludes "dividend in specie"
ScottishPower Chief Executive, Ian Russell, said:
"This has been a year of delivery based on our consistent focus on performance. I'm pleased to announce this good set of results with profits up substantially and earnings per share* for the year up by 29%. Each of our four businesses has made significant progress towards its strategic priorities. The outlook for ScottishPower remains positive, with further improvements in performance expected from our businesses and good opportunities to invest for further growth."
To download the full statement and accounts (in pdf format), please click here!
For Further Information:
Andrew Jamieson
Head of Investor Relations + 44 (0) 141 636 4527
Colin McSeveny
Group Media Relations Manager + 44 (0) 141 636 4515
Private shareholders with questions regarding today's statement on ScottishPower's dividend policy should call one of the following telephone numbers:
UK 0845 366 8900
Europe +44 (0) 207 335 5675
US 1 866-357-8289
