Statement of Total Recognised Gains and Losses
Year Ended 31 March 1999
1999 1999 1999 1999 1998 1998 1998 1998
Group* BL Universal PLC (Joint Venture) Associated undertakings Total Group* BL Universal PLC (Joint Venture) Associated undertakings Total
£m £m £m £m £m £m £m £m
Profit after taxation 301.1 1.9 20.0 323.0 425.5 5.3 4.5 435.3
Revaluation of properties (4.1) 15.9 11.8 (2.2) 56.9 54.7
Currency translation differences in terms of sterling (27.6) 1.1 (26.5) (48.3) (0.6) (48.9)
Total gains and losses recognised in the year 269.4 17.8 21.1 308.3 375.0 62.2 3.9 441.1
*Excluding joint venture and associated undertakings

Note of Historical Cost Profits and Losses
1999 1998
£m £m
Reported profit before taxation 450.4 623.7
Realisation of property revaluation gains of previous years 87.8 265.6
Difference between historical cost depreciation charge and the actual depreciation charge for the year calculated on the revalued amount 0.5 0.4
Historical cost profit before taxation 538.7 889.7
Historical cost profit for the year retained after taxation and dividends 204.1 500.1
The realisation of property revaluation gains of previous years arises in connection with the repayment of loans by BL Universal PLC.

Movement in Equity Shareholders' Funds
1999 1998
£m £m
Profit after taxation 323.0 435.3
Dividends (207.2) (201.2)
115.8 234.1
Goodwill charged to reserves (including associates Nil (1998 £10.7m)) (2.5) (790.4)
Goodwill on disposals 2.0
Other recognised gains and losses relating to the year (net) (14.7) 5.8
98.6 (548.5)
Opening equity shareholders' funds 2,310.5 2,859.0
Closing equity shareholders' funds 2,409.1 2,310.5
Goodwill charged in the year to 31 March 1999 recognises amendments to estimates of employee compensation in respect of the acquisition of Metromail in the year to 31 March 1998, when the net assets were included on a provisional basis and the goodwill arising was written off to reserves prior to the adoption of FRS 10.

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