IFRS condensed financial statements
A2 - Exchange rates
The group’s principal overseas operations during the period 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 period and the assets and liabilities have been translated at the period end rates as follows:
| 6 months 2009 |
6 months 2008 |
Full year 2008 |
|
|---|---|---|---|
| Eurozone | |||
| – Average rate (€1 equals) | £0.89 | £0.77 | £0.80 |
| – Period end rate (€1 equals) | £0.85 | £0.79 | £0.97 |
| United States | |||
| – Average rate ($US1 equals) | £0.67 | £0.51 | £0.54 |
| – Period end rate ($US1 equals) | £0.61 | £0.50 | £0.69 |
