Compare British Telecom's and France Telecom's Financial performance in terms of profitability.

British Telecom, for the year end March 31 (in million Total revenue Revenue Growth 2007 20,223 3.6% 2008 20,704 2.4% 2009 21,390 3.3% NOPAT Margin Asset Turnover ROA 17.0% 1.73 29.3% 11.6% 1.71 19.8% 2.4% 1.43 30% Spread Leverage Impact of leverage ROE 23.5% 6.54 153.8% 183.2% 11.4% 1.87 21.2% 41.0% -4.0% 1.77 7.0% -3.6% Percent of Revenue Gross Profit Operating expenses Unusual income (expenses) Discontinued operations 61.9% 45.7% 61.8% 45.5% -2.9% 0.0% 61.4% 55.9% -25% 0.0% 0.0% Valuation multiples Price-to-earnings Price-to-book value NOPAT is net operating profit after taxes. NOPAT margin is NOPAT over Net Assets. Asset turnover is total revenue over assets. Spread is NOPAT margin minus the interest on all interest paying liabilities. Leverage is total debt minus cash, over shareholder's equity. Impact of leverage is spread times leverage 10.48 7.47 8.32 4.02 6.66 2.20