Preliminary results year ended 31 December 2008
05 March 2009
2. Exchange rates
The group’s principal overseas operations during the year were located within the Eurozone and the United States.
The results and cash flows of these operations have been translated at the average rates for the year and the assets and liabilities have been translated at the year end rates as follows:
| 2008 | 2007 | |
|---|---|---|
| Eurozone | ||
| – Average rate (€1 equals) | £0.80 | £0.68 |
| – Period end rate (€1 equals) | £0.97 | £0.73 |
| United States | ||
| – Average rate ($US1 equals) | £0.54 | £0.50 |
| – Period end rate ($US1 equals) | £0.69 | £0.50 |
