Annual Report and
Accounts 2006

Year ended 31 July 2006


8. Reconciliation of movements in equity shareholders' funds

  £m
Opening shareholders' funds (as previously reported) 1,365
Prior period adjustments 98
Opening shareholders' funds (restated) 1,463
Issue of share capital of £0.25 each 1
Share premium on issue of shares 47
Purchase of own shares for employee benefit trust (27)
Profit for the period 1,101
Dividends (162)
Equity settled employee share options 20
Deferred tax on equity settled employee share options 1
Cash flow hedges 13
Deferred tax on cash flow hedges (4)
Closing shareholders' funds 2,453