For the year ended 31 December 2025 2024 m m Profit before taxation (PBT) 9,859 3,538 Less: Share of post-tax results of associates and joint ventures (1,681) (1,900) Adjusting items within profit from operations 1,575 9,154 Adjusting items within finance costs 170 (491) Adjusted profit before taxation, excluding associates and joint ventures 9,923 10,301 Impact of translational foreign exchange 337 Adjusted PBT, excluding associates and joint ventures, translated at 2024 exchange rates 10,260 10,301 Adjustments in respect of Canada1, translated at 2024 exchange rates (365) (646) Adjusted PBT, excluding associates and joint ventures and as adjusted for Canada, translated at 2024 exchange rates 9,895 9,655 Taxation on ordinary activities (2,094) (357) Adjusting items within taxation and taxation on adjusting items (344) (2,206) Adjusted taxation (2,438) (2,563) Impact of translational foreign exchange on adjusted taxation (84) Adjusted taxation, translated at 2024 exchange rates (2,522) (2,563) Adjustments in respect of Canada1, translated at 2024 exchange rates 97 169 Adjusted taxation as adjusted for Canada, translated at 2024 exchange rates (2,425) (2,394) Effective tax rate 21.2% 10.1% Underlying tax rate 24.6% 24.9% Underlying tax rate (at 2024 exchange rates) 24.6% 24.7% Underlying tax rate (2024 exchange rates) as adjusted for Canada1 24.5% 24.8% 1
Most people probably wont notice a difference, though
Honor our story
Cancer 3 , 733744 (2003)
