SHAREHOLDERS' FUNDS
A table setting out the movements in shareholders’ funds during the year to 31 December 2013 is set out below.
Shareholders’ funds have, net of a share buyback of £45 million (NZ$91 million), increased during the year by £10 million (NZ$20 million) to £444 million (NZ$896 million):
| Movements in shareholders’ funds |
|
Year ended 31 December 2013 |
|
Year ended 31 December 2012 |
| |
|
£m |
£m |
|
£m |
£m |
| Opening shareholders’ funds |
|
|
434 |
|
|
602 |
| Shareholders’ returns |
|
|
|
|
|
|
| — Share buy-backs |
|
|
(45) |
|
|
(25) |
| Profit/(Loss) for the period |
|
|
23 |
|
|
(29) |
| — Gain realised in the period (recycled through the Income statement) |
|
(16) |
|
|
(40) |
|
| — Net unrealised movements on AFS investments |
|
- |
|
|
(13) |
|
| — Reclassification |
|
1 |
|
|
- |
|
| — Deferred tax movement |
|
1 |
|
|
4 |
|
| |
|
|
(14) |
|
|
(49) |
| IAS19 adjustments |
|
|
|
|
|
|
| — GPG schemes |
|
22 |
|
|
(12) |
|
| — Coats |
|
85 |
|
|
(2) |
|
| |
|
|
107 |
|
|
(14) |
| Foreign currency movements |
|
|
|
|
|
|
| — Coats net losses |
|
(12) |
|
|
(4) |
|
| — Other group net losses arising in the year |
|
(24) |
|
|
(8) |
|
| — Total net losses arising in the year |
|
(36) |
|
|
(12) |
|
| — Historical net gains recycled to the Income statement |
|
(30) |
|
|
(39) |
|
| — Reclassification |
|
(1) |
|
|
- |
|
| |
|
|
(67) |
|
|
(51) |
| Other, mainly hedging |
|
|
6 |
|
|
- |
| |
|
|
|
|
|
|
| Total £ million |
|
|
444 |
|
|
434 |
| |
|
|
|
|
|
|
| Total NZ$ million (at 2.0175) |
|
|
896 |
|
|
876 |
