Consolidated statement of changes in equity

	Share capital	Share premium account	Capital redemption reserve	Capital reserve	Revaluation reserve	Hedging reserve	Translation reserve	Retained earnings	Attributable to equity holders of the parent	Minority interests	Total
	£m	£m	£m	£m	£m	£m	£m	£m	£m	£m	£m
Net loss on cash flow hedges	–	–	–	–	–	(111)	–	–	(111)	(11)	(122)
Revaluation deficit on step acquisition	–	–	–	–	(12)	–	–	–	(12)	–	(12)
Exchange differences recognised on net investment hedges	–	–	–	–	–	–	(15)	–	(15)	(2)	(17)
Exchange differences arising on translation of foreign operations	–	–	–	–	(1)	(3)	132	–	128	9	137
Tax on items taken directly to equity	–	–	–	–	4	24	(4)	–	24	(1)	23
Net (loss)/income recognised directly in equity	–	–	–	–	(9)	(90)	113	–	14	(5)	9
Profit for the year	–	–	–	–	–	–	–	503	503	26	529
Total recognised income and expense for the year	–	–	–	–	(9)	(90)	113	503	517	21	538
Issue of shares	5	9	–	–	–	–	–	–	14	–	14
Minority interests in acquisitions and disposals	–	–	–	–	–	–	–	–	–	(101)	(101)
Distributions	–	–	–	–	–	–	–	(160)	(160)	(35)	(195)
Other movements	–	–	–	–	–	–	–	11	11	–	11
Total movements during the year	5	9	–	–	(9)	(90)	113	354	382	(115)	267
At 1 January 2007	746	402	145	422	–	6	(78)	819	2,462	278	2,740
At 31 December 2007	751	411	145	422	(9)	(84)	35	1,173	2,844	163	3,007

	Share capital	Share premium account	Capital redemption reserve	Capital reserve	Revaluation reserve	Hedging reserve	Translation reserve	Retained earnings	Attributable to equity holders of the parent	Minority interests	Total
	£m	£m	£m	£m	£m	£m	£m	£m	£m	£m	£m
Net gain on cash flow hedges	–	–	–	–	–	167	–	–	167	6	173
Exchange differences recognised on net investment hedges	–	–	–	–	–	–	4	–	4	1	5
Exchange differences arising on translation of foreign operations	–	–	–	–	–	4	(131)	–	(127)	(15)	(142)
Tax on items taken directly to equity	–	–	–	–	–	(47)	–	–	(47)	(9)	(56)
Net income/(loss) recognised directly in equity	–	–	–	–	–	124	(127)	–	(3)	(17)	(20)
Profit for the year	–	–	–	–	–	–	–	410	410	67	477
Total recognised income and expense for the year	–	–	–	–	–	124	(127)	410	407	50	457
Issue of shares	9	8	–	–	–	–	–	–	17	–	17
Minority interests in acquisitions and disposals	–	–	–	–	–	–	–	–	–	(1)	(1)
Distributions	–	–	–	–	–	–	–	(67)	(67)	(54)	(121)
Other movements	–	–	–	–	–	–	–	13	13	–	13
Total movements during the year	9	8	–	–	–	124	(127)	356	370	(5)	365
At 1 January 2006	737	394	145	422	–	(118)	49	463	2,092	283	2,375
At 31 December 2006	746	402	145	422	–	6	(78)	819	2,462	278	2,740