NOTES TO THE FINANCIAL STATEMENTS
35. RETAINED EARNINGS AND OTHER RESERVES
Ownshares |
Hedging reserve |
Retained earnings |
Total |
|
Group |
||||
At 1 April 2008 |
(4.5) |
3.1 |
346.5 |
345.1 |
Profit for year |
- |
- |
89.8 |
89.8 |
Other comprehensive loss for the year |
- |
(21.0) |
(48.1) |
(69.1) |
Dividends paid relating to 2008 |
- |
- |
(69.1) |
(69.1) |
Credit to equity in respect of share-based payments |
- |
- |
2.7 |
2.7 |
Charge in respect of share options vesting |
1.5 |
- |
(1.5) |
- |
Deferred tax in respect of share-based payments |
- |
- |
(0.8) |
(0.8) |
Proceeds from treasury shares re-issued |
- |
- |
1.6 |
1.6 |
At 31 March 2009 |
(3.0) |
(17.9) |
321.1 |
300.2 |
Profit for year |
- |
- |
139.5 |
139.5 |
Other comprehensive income/(loss) for the year |
- |
5.0 |
(35.2) |
(30.2) |
Dividends paid relating to 2009 |
- |
- |
(73.4) |
(73.4) |
Adjustment for shares issued under the scrip dividend alternative |
- |
- |
9.6 |
9.6 |
Credit to equity in respect of share-based payments |
- |
- |
2.7 |
2.7 |
Charge in respect of share options vesting |
0.8 |
- |
(0.8) |
- |
Deferred tax in respect of share-based payments |
- |
- |
0.2 |
0.2 |
Equity component of convertible bond issued |
- |
- |
10.0 |
10.0 |
Proceeds from treasury shares re-issued |
- |
- |
1.9 |
1.9 |
At 31 March 2010 |
(2.2) |
(12.9) |
375.6 |
360.5 |
The own shares reserve represents the cost of ordinary shares in Pennon Group Plc issued to or purchased in the market and held by the Pennon Employee Share Trust to satisfy awards under the Group's Restricted Share Plan and Incentive Bonus Plan.
The market value of the 596,000 ordinary shares (2009 810,000 ordinary shares) held by the trust at 31 March 2010 was £3.1m (2009 £3.3m).
Hedging reserve |
Retained
earnings |
Total |
|
Company |
|||
At 1 April 2008 |
0.5 |
393.5 |
394.0 |
Profit for the year |
- |
140.1 |
140.1 |
Other comprehensive loss for the year |
(1.9) |
(5.8) |
(7.7) |
Dividends paid relating to 2008 |
- |
(69.1) |
(69.1) |
Credit to equity in respect of share-based payments |
- |
0.6 |
0.6 |
Deferred tax in respect of share-based payments |
- |
(0.2) |
(0.2) |
Proceeds from treasury shares re-issued |
- |
1.6 |
1.6 |
At 31 March 2009 |
(1.4) |
460.7 |
459.3 |
Profit for the year |
- |
81.6 |
81.6 |
Other comprehensive income/(loss) for the year |
1.1 |
(3.4) |
(2.3) |
Dividends paid relating to 2009 |
- |
(73.4) |
(73.4) |
Adjustment for shares issued under the scrip dividend alternative |
- |
9.6 |
9.6 |
Credit to equity in respect of share-based payments |
- |
0.7 |
0.7 |
Equity component of convertible bond issued |
- |
10.0 |
10.0 |
Proceeds from treasury shares re-issued |
- |
1.9 |
1.9 |
At 31 March 2010 |
(0.3) |
487.7 |
487.4 |