Just to correct to some of the figures mentioned above let me point out a few facts that I think a few people have been getting confused about.
Operating Profit is just that, the profit made on your operations and does not include profit/loss on acuqisitions or disposals.
For a full description try the BA web site
http://www.bashares.com/fininfo/2001.../q12001fin.doc
Rather than a full post let me try to show some basic figures for the 3 months up to June in the years 2001 and 2000. (millions)
Total Turnover 2,297 2,310
Expenditure 2,247 2,213
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Operating Profit 50 97
See how the operating figure has been halved. This is an important figure as it shows how well BA's actual operation is performing. The sale of GO is NOT included.
Now to add a few more points including
Profit/(loss) on sale of fixed assets and investments, interest net payable, and charges on currency borrowings:
P&L on disposals 92 (58)
Interest (81) (70)
Currency (23) (19)
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Total P/L b4 tax 40 (50)
So in summary, the operating profit has been halved.
But profit b4 tax has risen from a 50 mill loss to a 40 mill profit due to the Profit/(loss) on sale of fixed assets and investments.
Hope this helps.