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  pearson annual report 2000    

: corporate and operating measures :


Sales underlying growth

Sales growth excluding the impact of acquisitions and disposals and movements in exchange rates.

all figures in millions 2000

Underlying increase 264
Portfolio changes 115
Foreign exchange 125
Internet enterprises 38

Total sales increase 542

Underlying increase 9.2%

EBITDA* before internet enterprises

Earnings before interest, taxation, depreciation and amortisation, seen to be a close proxy for operating cash flow.

all figures in millions 2000

Operating profit (before internet enterprises) 686
Depreciation (before internet enterprises) 94


Trading margin before internet enterprises

Trading profit (operating profit excluding profit from joint ventures, associates and investments) as a proportion of sales.

all figures in millions 2000

Total operating profit Group 450
Internet enterprises Group 183
Investment income (3)

Trading profit 630
Sales 3,829

Trading margin 16.5%

Adjusted eps before internet enterprises

Earnings excluding non-trading or recurring items (see note 10 for a full definition) divided by the weighted average number of shares in issue.

all figures in millions 2000

Adjusted earnings 397
Weighted average number of shares in issue (millions) 727.7

Adjusted eps 54.6p

Free cash flow per share* before internet enterprises

Operating cash flow less taxation paid on operating profits and interest paid, divided by the weighted average number of shares in issue.

all figures in millions 2000

Operating cash flow 580
Taxation paid on operating profits (75)
Interest paid (148)

Free cash flow 357
Weighted average shares in issue (millions) 727.7

Free cash flow per share 49.1p

*Before goodwill, integration costs and non-operating items.


2000 Annual Report
* Introduction
* Chairman's letter
* Chief executive's review
* The Pearson Goals
* Internet Enterprises
* The Results
* Pearson Education
* The Penguin Group
* The Financial Times Group
* Recoletos
* Financial Review
* The Board
* Directors' Report
* Personnel Committee Report
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Reconciliation of movements in equity shareholders' funds
* Report to the Auditors to the Members of Pearson plc
* Principal subsidiaries and associates
* Five year summary
* Corporate and Operating Measures
* Shareholder information
* Notes to the accounts

* Top of Page