REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

Eleven year consolidated financial summary for the year ended 31 December450J F M A M J J A S O N DOrdinary shares high/lows 1999 (pence)The highest price in 1999 was 1011p,the lowest 486p.J F M A M J J A S O N DADSs highs/lows 1999 (US dollars)The highest price in 1999 was $100.00,the lowest $50.25.99 98 97 96 95 94 93 92 91 90 89Revenue per employee (£000)1,05090075060010090807060502001501005001999 1998 1997£M £M £MResultsRevenue 3,125 3,032 2,882Net interest (payable)/receivable (4) 2 80Profit before tax 632 580 626Taxation 207 196 236Profit attributable to ordinary shareholders 425 384 390Net assetsFixed assets 1,205 1,098 1,046Net current (liabilities)/assets (232) (577) 790Long term creditors (284) (16) (37)Provisions (88) (116) (120)601 389 1,679Tangible fixed assetsAdditions 244 296 361Depreciation 310 331 312Development expenditure 197 200 235Free cash flow 402 490 4491999 1998 1997RatiosBasic earnings per ordinary share 30.2p 26.7p 24.0pAdjusted earnings per ordinary share (1) 34.5p 30.3p 29.1pDividends per ordinary share 14.65p 14.4p 13.0pCash flow per ordinary share (2) 71.6p 68.3p 61.0pBook value per ordinary share (3) 36.1p 23.3p 99.9pCash flow/book value (4) 195.5% 292.0% 61.0%Profit before tax as a percentage of revenue 20.2% 19.1% 21.7%Return on tangible fixed assets (5) 57.5% 48.2% 49.0%Return on equity (6) 102.0% 78.5% 25.6%UK corporation tax rate 30.25% 31.0% 31.5%InfrastructureShares in issue (millions) 1,423 1,422 1,694Employees 16,546 16,938 16,119User accesses 521,000 482,000 429,000NOTES.1997 and 1998 have been restated to reflect the adoption of FRS 12.1998 and 1997 have been restated to reflect changes to reporting user accesses in 1999.1989 to 1996 have not been restated to reflect the change to reporting user accesses in 1999.1989 to 1991 have not been restated to reflect the change to reporting user accesses in 1994.1995 and 1996 have been restated to reflect the effect of FRS 10 issued in 1997 which required purchased goodwill andintangible assets to be capitalised and amortised through the profit and loss account.1989 to 1994 have not been restated for FRS 10.1989 to 1991 have not been restated to reflect the effects of the prior year adjustment for post retirement medicalbenefits made in 1992.1989 to 1993 have been restated for the subdivision of every ordinary share of 10 pence each into four new ordinaryshares of 2.5 pence each in April 1994.1990 to 1994 fixed assets have been restated to reflect the effect of UITF abstract 13 issued in 1995.Free cash flow is defined as net cash inflow from operating activities plus net interest received less tax paid andexpenditure on tangible fixed assets.86 Reuters Group PLC Annual Report 1999