2008 financial year
| Revenue £bn |
Adjusted operating profit £bn |
Capitalised fixed asset additions £bn |
Free cash flow(1) £bn |
|
|---|---|---|---|---|
| Outlook – May 2007(2) | 33.3 to 34.1 | 9.3 to 9.9 | 4.7 to 5.1 | 4.0 to 4.5 |
| Outlook – November 2007(3) | 34.5 to 35.1 | 9.5 to 9.9 | 4.7 to 5.1 | 4.4 to 4.9 |
| Foreign exchange(4) | 0.7 | 0.1 | 0.1 | 0.1 |
| Adjusted outlook(5) | 35.2 to 35.8 | 9.6 to 10.0 | 4.8 to 5.2 | 4.5 to 5.0 |
| 2008 performance | 35.5 | 10.1 | 5.1 | 5.5 |
| Notes: | |
|---|---|
| (1) | The amount for the 2008 financial year includes £0.4 billion benefit from payments for capital expenditure but is stated after £0.7 billion of tax payments, including associated interest, in respect of a number of long standing tax issues. |
| (2) | The Group’s outlook from May 2007 reflected expectations for average foreign exchange rates for the 2008 financial year of approximately £1:€1.47 and £1:US$1.98. |
| (3) | The Group’s outlook, as updated in November 2007, reflected improvements in operational performance, the impact of the Tele2 acquisition and updated expectations for average foreign exchange rates for the 2008 financial year of approximately £1:€1.45 and £1:US$2.04. |
| (4) | These amounts represent the difference between the forecast exchange rates used in the November 2007 update and rates used to translate actual results including £1:€1.42 and £1:US$2.01. |
| (5) | Outlook from November 2007 adjusted solely for exchange rate differences as discussed in note 4 above. |