Consolidated statement of changes in shareholders’ equity

For the year ended 31 December

Consolidated statement of changes in shareholders’ equity

Attributable to equity holders of the Company


Share
capital
£000

Share
premium
account
£000

Share
option
reserve
£000

Retained

earnings*

£000

Revaluation
reserve**

£000

Cumulative
translation
adjustment
£000

Total
£000

Balance at 31 December 2006

695

449,195

61,474

161,453

(544)

(11,347)

660,926

Dividends

–

–

–

(18,547)

–

–

(18,547)

Movement on tax arising
on share options

–

–

–

2,212

–

–

2,212

Purchase of own shares

–

–

–

(120,419)

–

–

(120,419)

Appropriation for future
share cancellations

–

–

–

(8,142)

–

–

(8,142)

Cancellation of shares*

(28)

–

–

28

–

–

–

Cancellation of share
premium account

–

(103,121)

–

103,121

–

–

–

Proceeds from sale of own shares

–

–

–

13,383

–

–

13,383

Unrealised holding gain on available-for-sale investments
(net of tax of £146,000)

–

–

–

–

330

–

330

Currency translation adjustment

–

–

–

–

–

(8,126)

(8,126)

Total income/(expense) recognised directly in equity in 2007

(28)

(103,121)

–

(28,364)

330

(8,126)

(139,309)

Shares issued on exercise of options

5

5,504

–

–

–

–

5,509

Profit for the year

–

–

–

35,250

–

–

35,250

Credit in respect of employee
share schemes

–

–

–

16,786

–

–

16,786

Balance at 31 December 2007

672

351,578

61,474

185,125

(214)

(19,473)

579,162

Dividends

−

−

−

(26,383)

−

−

(26,383)

Movement on tax arising
on share options

−

−

−

(1,030)

−

−

(1,030)

Purchase of own shares

−

−

−

(40,286)

−

−

(40,286)

Proceeds from sale of own shares

−

−

−

5,581

−

−

5,581

Realised gain on available-for-sale investment (net of tax of £84,000)

−

−

−

−

214

−

214

Unrealised holding loss on available-for-sale investments
(net of tax of £nil)

−

−

−

−

(285)

−

(285)

Currency translation adjustment

−

−

−

−

−

164,369

164,369

Total income/(expense) recognised directly in equity in 2008

−

−

−

(62,118)

(71)

164,369

102,180

Profit for the year

−

−

−

43,592

−

−

43,592

Credit in respect of employee
share schemes

−

−

−

15,409

−

−

15,409

Balance at 31 December 2008

672

351,578

61,474

182,008

(285)

144,896

740,343

*Own shares held Offset within retained earnings is an amount of £107,963,000 (2007: £90,000,000) representing the cost of own shares held. These shares are expected to be used in part for the benefit of the Group’s employees and directors to satisfy share option, restricted stock units (RSUs) and conditional share awards in future periods. Own shares held include £nil (2007: £348,000), being the cost of nil (2007: 1,201,434) shares in the Company held by the Group’s ESOP. Own shares also include £107,963,000 (2007: £89,652,000), being the cost of 91,160,488 (2007: 65,201,176) shares in the Company. On 11 July 2007, the 49,500,000 shares held at 31 December 2006 were cancelled. Refer to note 21 for further details on the movement on these balances.

**Revaluation reserve The Group includes on its balance sheet publicly traded investments, which are classified as available-for-sale. These are carried at market value. Unrealised holding gains or losses on such securities are included, net of related taxes, within the revaluation reserve. Any unrealised gains within this reserve are undistributable.

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