for the year ended 31 December 2003

	2003		2002
	£million		£million
Profit/(loss) for the financial year	4.3		(30.8	)
Redemption of redeemable B shares (including issue costs)	(9.5	)	(9.6	)
Goodwill on businesses disposed	-		2.6
Actuarial gain/(loss) on pension and other post-retirement schemes	6.0		(59.4	)
Deferred tax associated with pension and other post-retirement schemes	(2.3	)	18.2
Currency translation differences	(21.5	)	(25.7	)
Taxation on currency translation differences on foreign currency borrowings	-		1.5
Net decrease in shareholders' funds	(23.0	)	(103.2	)
At beginning of the financial year	275.3		378.5
At end of the financial year	252.3		275.3