Profit and Loss 2001

for the year ended 31 December 2002

	Consolidated ($,000)
	2002	2001
Revenue from ordinary activities	549,954	488,262
Expenses from ordinary activities	(423,407)	(415,006)
Borrowing costs	(52,556)	(51,125)
Share of net profits/(losses) of associates accounted for using the equity method	13,935	14,427
Profit from ordinary activities before income tax expense	87,926	36,558
Income tax expense	(21,765)	(8,058)
Profit from ordinary activities after income tax expense	66,161	28,500
Net (profit)/loss attributable to outside equity interest	1,843	18,573
Net profit attributable to members of United Energy Limited	68,004	47,073
Transfers to outside equity interests	-	194
Total revenue, expenses and valuation adjustments attributable to members of United Energy Limited recognised directly in equity	-	194
Total changes in equity other than those resulting from transactions with owners as owners	68,004	47,267
	Cents	Cents
Basic earnings per share	16.2	11.2

The above Statement of Financial Performance should be read in conjunction with the accompanying notes.