Consolidated statement of changes in shareholders’ equity
For the year ended 31 December
Attributable to equity holders of the Company | |||||||
Share | Share | Share | Retained earnings* £000 | Revaluation reserve** £000 | Cumulative | Total | |
Balance at 1 January 2009 | 672 | 351,578 | 61,474 | 182,008 | (285) | 144,896 | 740,343 |
Profit for the year | − | − | − | 40,439 | − | − | 40,439 |
Other comprehensive income: |
|
|
|
|
|
|
|
Unrealised holding gain on available-for-sale financial assets | − | − | − | − | 130 | − | 130 |
Currency translation adjustment | − | − | − | − | − | (61,718) | (61,718) |
Total comprehensive | − | − | − | 40,439 | 130 | (61,718) | (21,149) |
Dividends (see note 7) | − | − | − | (28,961) | − | − | (28,961) |
Credit in respect of employee share schemes | − | − | − | 19,001 | − | − | 19,001 |
Movement on tax arising | − | − | − | 10,378 | − | − | 10,378 |
Proceeds from sale | − | − | − | 19,085 | − | − | 19,085 |
− | − | − | 19,503 | − | − | 19,503 | |
Balance at 31 December 2009 | 672 | 351,578 | 61,474 | 241,950 | (155) | 83,178 | 738,697 |
Profit for the year | − | − | − | 85,974 | − | − | 85,974 |
Other comprehensive income: |
|
|
|
|
|
|
|
Unrealised holding gain on available-for-sale financial assets | − | − | − | − | 155 | − | 155 |
Currency translation adjustment | − | − | − | − | − | 16,624 | 16,624 |
Total comprehensive income for the year | − | − | − | 85,974 | 155 | 16,624 | 102,753 |
Dividends (note 7) | − | − | − | (34,323) | − | − | (34,323) |
Credit in respect of employee share schemes | − | − | − | 27,129 | − | − | 27,129 |
Movement on tax arising | − | − | − | 36,634 | − | − | 36,634 |
Proceeds from sale | − | − | − | 24,015 | − | − | 24,015 |
− | − | − | 53,455 | − | − | 53,455 | |
Balance at 31 December 2010 | 672 | 351,578 | 61,474 | 381,379 | − | 99,802 | 894,905 |
* Own shares held Offset within retained earnings is an amount of £22,059,000 (2009: £65,102,000) representing the cost of own shares held being 21,624,158 (2009: 60,321,361) shares in the Company. Refer to note 20 for further details on the movement on these balances. 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.
**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.
The accompanying notes are an integral part of the financial statements.