Continued

2 Segmental information

	Group turnover				Group operating profit/(loss)				Net assets
	2003 £million		2002 £million		2003 £million		2002 £million		2003 £million		2002 £million
a) Before goodwill amortisation and exceptionals
Analysis by activity
Chromium	121.9		109.0		6.8		3.7		90.3		95.4
Inter-group turnover	(5.7	)	(6.9	)	-		-		-		-
	116.2		102.1		6.8		3.7		90.3		95.4
Specialties & Pigments	209.3		225.0		17.6		18.7		259.7		284.6
Specialty Rubber	42.7		37.8		-		(2.0	)	18.5		19.9
Associates	-		-		0.1		0.1		-		-
	368.2		364.9		24.5		20.5		368.5		399.9
Geographical analysis
North America	198.2		191.1		18.7		12.6		268.9		278.1
Europe	144.6		151.4		3.9		5.2		81.3		105.9
Rest of the World	25.4		22.4		1.9		2.7		18.3		15.9
	368.2		364.9		24.5		20.5		368.5		399.9
Unallocated liabilities	-		-		-		-		(114.3	)	(122.7	)
	368.2		364.9		24.5		20.5		254.2		277.2
b) After goodwill amortisation and exceptionals
Analysis by activity
Chromium	121.9		109.0		7.4		(35.8	)	90.3		95.4
Inter-group turnover	(5.7	)	(6.9	)	-		-		-		-
	116.2		102.1		7.4		(35.8	)	90.3		95.4
Specialties & Pigments	209.3		225.0		3.7		0.7		259.7		284.6
Specialty Rubber	42.7		37.8		(0.3	)	(2.7	)	18.5		19.9
Associates	-		-		0.1		0.1		-		-
	368.2		364.9		10.9		(37.7	)	368.5		399.9
Geographical analysis
North America	198.2		191.1		7.0		(39.4	)	268.9		278.1
Europe	144.6		151.4		2.0		(1.0	)	81.3		105.9
Rest of the World	25.4		22.4		1.9		2.7		18.3		15.9
	368.2		364.9		10.9		(37.7	)	368.5		399.9
Unallocated liabilities	-		-		-		-		(114.3	)	(122.7	)
	368.2		364.9		10.9		(37.7	)	254.2		277.2

Unallocated liabilities comprise:

	2003		2002
	£million		£million
Net borrowings	(46.9	)	(37.4	)
Taxation and dividends	(5.7	)	(7.9	)
Post retirement benefits and government grants	(54.1	)	(65.0	)
Other	(7.6	)	(12.4	)
	(114.3	)	(122.7	)

	2003 £million	2002 £million
Group turnover analysed by geographical markets
North America	175.1	175.3
Europe	122.0	129.6
Rest of the World	71.1	60.0
	368.2	364.9

3 Supplementary profit & loss account information

	Before
	goodwilll amortisation		Goodwill amortisation
	and exceptionals £million		and exceptionals £million		2003 Total £million		2002 Total £million
Turnover	368.2		-		368.2		364.9
Cost of sales	(239.4	)	-		(239.4	)	(284.3	)
Gross profit	128.8		-		128.8		80.6
Distribution costs	(62.3	)	-		(62.3	)	(61.5	)
Administrative expenses	(42.0	)	(13.6	)	(55.6	)	(56.8	)
Operating profit/(loss)	24.5		(13.6	)	10.9		(37.7

4 Exceptionals

	2003 £million		2002 £million
Operating exceptionals:
Restructuring costs (1 )	1.7		-
Chromium insurance recovery	(0.8	)	(1.0	)
Impairment charge against Chromium assets	-		35.4
Restructuring of combined Chromium businesses	-		5.1
Restructuring of Linatex business	0.3		0.7
Restructuring of Specialties & Pigments Birtley operation	-		4.5
	1.2		44.7
Non-operating exceptionals:
Profit on disposal of properties - continuing operations	-		(4.8	)
Profit on disposal of properties - discontinued operations	(0.8	)	(1.4	)
Loss on disposal of businesses - continuing operations	-		2.9
Profit on disposal of businesses - discontinued operations	-		(1.0
	(0.8	)	(4.3	)
	0.4		40.4
Tax charge/(credit) on exceptionals	0.2		(3.6	)
	0.6		36.8
(1) The exceptional restructuring costs arose following the introduction of an enterprise resource planning system and subsequent re-organisation of financial and administrative activities into two shared service centres.
Notes to the financial statements continue on the next page > [Page 2 of 9]