Prelim This is the announcement made by the company to the Stock Exchange on its annual results, earnings and proposed dividend which is preliminary to the publication and release of the full Annual Report. This is the remuneration of the total work force during the past financial period. ROCE The abbreviation stands for return on capital employed. ROCE, a key statistic, reflects the rate of return that the management obtains for shareholders by their management of the company's assets. By this short reference a label is given to the first one hundred quoted companies on the London stock market as measured by market capitalisation.
Turnover is the sales, or gross revenue, of the company during the financial period.
Being inappropriate for Banks or Insurance companies, this measurement is not presented for them. In this period, we won a third generation mobile licence in the UK, gained full control of Telfort in Holland and finalised the purchase of Esat in Ireland as part of our strategy for investing in growth businesses. Earnings have been affected by the interest and goodwill costs of our investments for the future, as well as continuing competition in our traditional UK market. The restructuring of the group, announced in the quarter, aims to manage and develop these investments effectively and create value for shareholders. Results Total turnover, including BT s proportionate share of its ventures turnover, grew by 36 per cent to 6,791 million for the quarter ended June 30, 2000.