REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

1996 1995 1994 1993 1992 1991 1990 1989£M £M £M £M £M £M £M £M2,914 2,703 2,309 1,874 1,568 1,467 1,369 1,18761 60 51 60 66 49 30 19652 558 510 440 383 340 320 283210 185 162 140 123 110 112 102442 373 347 299 236 230 207 1811,026 999 687 571 499 488 531 484525 387 176 151 419 289 81 (33)(41) (135) (87) (32) (26) (30) (27) (22)(51) (39) (36) (32) (23) (25) (30) (20)1,459 1,212 740 658 869 722 555 409372 304 319 268 199 159 196 193283 250 221 204 186 193 140 110202 191 159 110 79 67 62 60494 455 321 224 276 339 227 541996 1995 1994 1993 1992 1991 1990 198927.3p 23.2p 21.7p 18.0p 14.0p 13.7p 12.4p 10.9p30.4p 25.8p 21.7p 18.0p 14.0p 13.7p 12.4p 10.9p11.75p 9.8p 8.0p 6.5p 5.3p 4.25p 3.75p 3.25p60.7p 52.7p 45.6p 40.3p 33.6p 31.7p 27.4p 23.6p88.3p 73.7p 44.7p 40.6p 51.2p 42.7p 32.9p 24.5p68.8% 71.5% 102.0% 99.2% 65.7% 74.2% 83.5% 96.2%22.4% 20.6% 22.1% 23.5% 24.4% 23.2% 23.4% 23.8%60.0% 55.2% 57.6% 57.2% 53.2% 45.4% 41.3% 40.9%33.7% 34.8% 50.8% 39.5% 29.9% 36.2% 43.2% 53.6%33.0% 33.0% 33.0% 33.0% 33.0% 33.25% 34.25% 35.0%1,689 1,677 1,668 1,662 1,753 1,743 1,735 1,72415,478 14,348 13,548 11,306 10,393 10,450 10,731 10,071362,000 327,100 296,700 227,400 200,800 201,800 200,900 194,800RATIOS.(1) Adjusted earnings per share are based on profit attributable to ordinary shareholders excluding capital reorganisation costs and goodwill amortisation.(2) Cash flow per ordinary share represents profit before taxation, goodwill amortisation and depreciation divided by the number of shares in issue after deducting shares held byemployee share ownership trusts. In 1989 to 1997 shares in Reuters Holdings PLC held by group companies are also deducted.(3) Book value per ordinary share represents adjusted shareholders’ equity divided by the number of shares in issue after deducting shares held by employee share ownership trusts.In 1989 to 1997 shares in Reuters Holdings PLC held by group companies are also deducted from shares in issue. Adjusted shareholders’ equity is calculated after deducting thecarrying value of interests in shares of Reuters Holdings PLC (1989 to 1997).(4) Cash flow/book value represents profit before taxation, goodwill amortisation and depreciation as a percentage of adjusted shareholders’ equity.(5) Return on tangible fixed assets represents profit after taxation as a percentage of average tangible fixed assets. The average is calculated by adding tangible fixed assets at thestart and the end of each year and dividing by two.(6) Return on equity represents profit attributable to ordinary shareholders divided by the average adjusted shareholders’ equity. The average is calculated by adding adjustedshareholders’ equity at the start and the end of each year and dividing by two. In 1998 a weighted average has been used to reflect the capital reorganisation.Reuters Group PLC Annual Report 1999 87