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In April 2005, Pearson sold its 79% interest in Recoletos Grupo de Communicación S.A. to Retos Cartera, a consortium of investors. This operation is disclosed as a 'discontinued' operation (see note 28).
| All figures in £ millions | 2005 | 2004 | 2003 |
|---|---|---|---|
| Sales | 27 | 190 | 169 |
| Operating (loss)/profit | (3) | 26 | 43 |
| Net finance income | - | 3 | 3 |
| (Loss)/profit before tax | (3) | 29 | 46 |
| Attributable tax benefit/(expense) | 1 | (7) | (23) |
| (Loss)/profit after tax | (2) | 22 | 23 |
| Profit on disposal of discontinued operations (note 28) | 306 | - | - |
| Attributable tax expense | (2) | - | - |
| Profit for the year from discontinued operations | 302 | 22 | 23 |
| Operating cash flows | (6) | 12 | 11 |
| Investing cash flows | - | 17 | 47 |
| Financing cash flows | - | - | (92) |
| Total cash flows | (6) | 29 | (34) |
