Notes to the Consolidated Financial Statements
Notes 21-25
- 21. Transactions with equity shareholders
- 22. Movements in accumulated other recognised income and expense
- 23. Movements in retained losses
- 24. Borrowings
- 25. Post employment benefits
23. Movements in retained losses
| 2008 £m |
2007 £m |
2006 £m |
|
|---|---|---|---|
| 1 April | (85,253) | (67,356) | (39,511) |
| Profit/(loss) for the financial year | 6,660 | (5,426) | (21,916) |
| Equity dividends (note 7) | (3,653) | (3,566) | (2,753) |
| Gain on expiration of equity put right | – | 142 | – |
| Loss on issue of treasury shares | (60) | (43) | (123) |
| B share capital redemption | (7) | (5,713) | – |
| B share preference dividend | – | (3,291) | – |
| Cancellation of shares | – | – | (3,053) |
| Grant of equity put right(1) | 333 | – | – |
| 31 March | (81,980) | (85,253) | (67,356) |
| Note: | |
|---|---|
| (1) | In the year ended 31 March 2008, a charge of £333 million, representing the fair value of put options granted by the Group over the Essar group’s interest in Vodafone Essar, has been recognised as an expense. The offsetting credit was recognised in retained losses, as no equivalent liability arose in respect of the fair value of the put options granted. |