Operating highlights Cash flow to the BBC increased by 42 per cent to £75 million Turnover exceeded £400 million as revenues rose by 16 per cent Profit before interest and tax doubled to £14 million, after recognising a profit on sale of investments of £21 million £50 million invested in BBC programmes and £5 million in non-BBC programmes 18 per cent growth in publishing sales and 19 per cent growth in television programme sales Six new pay-TV channels, four new magazines, eight new CD-ROMS and eight new online sites launched £7 million operating loss after charging £14 million of exceptional costs relating to the Discovery deal (£5 million) and the acquisition of European Channel Management Limited (£9 million).