Summary financial statement

Summary directors' report

A business review of the group, together with information on likely
future developments in the business, is in the business review section of this website.
The persons who were directors of the company during the year and at 31 March 1993 are listed in The Board section of the site.

Important note

This summary financial statement is only a summary of information in the group's financial statements and the directors' report. It does not contain sufficient information to allow for a full understanding of the results of the group or the state of affairs of the company or the group. For further information, the full annual financial statements, the auditors' report on those statements and the directors' report should be consulted. Shareholders have the right to demand a copy of the group's latest full annual Report and Accounts free of charge.

	Summary group profit and loss account
	for the year ended 31 March 1993				1993 £m	1992 £m
	Turnover				13,242	13,337
	Operating costs (a)				10,793	9,922
	Operating profit				2,449	3,415
	Loss on sale of subsidiary undertakings				132	-
	Profit before employee share ownership scheme and interest				2,317	3,415
	Employee share ownership scheme				33	38
	Net Interest payable and premium on repurchase of bonds				312	304
	Profit on ordinary activities before taxation				1,972	3,073
	Tax on profit on ordinary activities				724	999
	Profit on ordinary activities after taxation				1,248	2,074
	Minority interests				28	30
	Profit attributable to shareholders				1,220	2,044
	Dividends				967	888
	Retained profit for the financial year				253	1,156
	Earnings per share				19.8p	33.2p
	Dividends per share				15.6p	14.4p
	(a) including redundancy charges				1,034	30

	Summary group balance sheet
	at 31 March 1993				1993 £m	1992 £m
	ASSETS EMPLOYED
	Fixed assets				16,471	16,445
	Current assets				4,763	5,037
	Creditors: amounts falling due within one year				(4,441)	(5,187)
	Net current assets (liabilities)				322	(150)
	Total assets less current liabilities				16,793	16,295
	FINANCED BY
	Creditors: amounts falling due after more than one year				3,386	3,768
	Provisions for liabilities and charges				1,117	665
	Minority interests				72	108
	Capital and reserves				12,218	11,754
	Total capital and reserves
					16,793	16,295
	Directors' emoluments 967 888 The total emoluments of the directors, including payments to pension schemes, for the year ended 31 March 1993 were £3,202,000 (1992-£3,003,000).The chairman's emoluments, excluding pension arrangements, were £564,000 (1992-£539,000).

This summary financial statement was approved by the board of directors on 18 May 1993 and was signed on its behalf by

I D T Vallance
Chairman

M L Hepher
Group Managing Director

B D Romeril
Group Finance Director

Statement by the auditors

to the shareholders of
British Telecommunications plc

In our opinion this summary financial statement is consistent with the annual financial statements and directors' report of British Telecommunications plc for the year ended 31 March 1993 and complies with the requirements of section 251 of the Companies Act 1985 and the regulations made thereunder. We have issued an unqualified audit report on
the annual financial statements. The Companies Act requires the auditors to report if the accounting records are not properly kept or if the required information and explanations are
not received. Our report on the annual financial statements contained no such statement.

Coopers & Lybrand
Chartered Accountants
and Registered Auditors
London, 18 May 1993



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