Reconciliation of movements in shareholders' fund.

								Group		Company
								----------------------------
								1995	1994	1995	1994
52 weeks ended 25 February 1995					£m	£m	£m	£m
-------------------------------------------------------------------------------------------
Profit for the financial year					380	298	227	196
Dividends							177	152	177	152
								---------------------------
								203	146	50	44
Gain on foreign currency translation				-	1	-	-
New share capital subscribed less expenses			25	8	25	8
Payment of dividends by shares in lieu of cash			11	8	11	8
Shares issued for acquisition of Wm Low & Company PLC		181	-	181	-
Goodwill arising on acquisitions				(65)	(108)	-	-
								-----------------------------	

Net addition to shareholders' funds				355	55	267	60
Shareholders' funds at 26 February 1994				2,749	2,694	1,595	1,535
								-----------------------------
Shareholders' funds at 25 February 1995				3,104	2,749	1,862	1,595
								-----------------------------

Chairman's statement Review The Board Financial review Accounts Contents