This excerpt taken from the ICI 6-K filed Mar 16, 2005.
Trading and operating profit
Good comparable sales growth and the benefits of restructuring more than offset the impact of generally rising raw material costs during the year and Group trading profit for the year was £479m, 11% ahead of 2003 (2003 £430m). Trading profit for the International Businesses for the year of £505m (2003 £455m) was 21% ahead of 2003 on a comparable basis, with each business well ahead.
Including adverse impacts of foreign currency translation (-7%) and divestments (-3%), trading profit for the International Businesses as reported was 11% ahead of 2003.
Regional and Industrial reported a £26m trading loss for the year, in comparison with a £25m loss for 2003. This included a £52m charge in 2004 in relation to the deficit for the ICI UK Pension Fund, an increase of £10m compared with last year.
Including goodwill amortisation of £35m (2003 £36m), Group operating profit before exceptional items was £444m compared with £394m for 2003.