Financial Highlights

* continuing operations (excludes RTL Group/Pearson TV and Lazard) before goodwill amortisation, exceptional and non-operating items.
** pre-tax profit is stated before goodwill amortisation, exceptional and non-operating items. Taking account of these items, the pre-tax loss for the year was £438m.

note Throughout this report, the value of the dollar has been translated at the year-end rate; $1.46 : £1 sterling. Growth rates are calculated on the sterling numbers. Underlying growth excludes the impact of acquisitions, disposals and currency movements. All figures are post-internet enterprises unless otherwise stated.