Consolidated Statement of Recognised Income and Expense

For the year ended 31 December 2005

  2005
£m		 2004
£m
Actuarial gain/(loss) on pension obligations 0.5 (0.6)
Currency translation differences on foreign net investments 2.4 (4.1)
Net (loss)/gain on hedge of net investment in foreign subsidiaries (0.2) 0.1
Cash flow hedging reserve:    
Amounts released to income statement (0.8)  
Effective portion of changes in fair value (0.7)  
Net income (expense) recognised directly in equity  1.2 (4.6)
Profit for the year 9.8 7.7
Total recognised income for the year  11.0  3.1 
Effect of adoption of IAS 32 and IAS 39 at 1 January 2005 on:    
Retained earnings 0.4  
Cash flow hedging reserve 0.8  
Total  12.2  3.1 

As more fully explained in Note 25, financial instrument accounting is determined on different bases in 2005 and 2004 due to management’s decision not to adopt IAS 32 and IAS 39 until 1 January 2005. Management has also taken the option of IFRS 1 not to restate comparatives on adoption of IAS 32 and IAS 39.

Information correct at 02/05/2006