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Statement of Total Recognised Gains and Losses 
								 Group	 	       Company
							--------------		--------------
							1996	  1995 		1996	  1995
52 weeks ended 24 February 1996 			  £m	    £m  	  £m	    £m
----------------------------------------------------------------------------------------------

Profit for the financial year 				 466	   380 		  307 	   227 
Loss on foreign currency translation 			  (1)	     -		    -	     -
							--------------		--------------
Total recognised gains and losses relating to the financial year 
							 465 	   380 		  307 	   227
							--------------		--------------





Reconciliation of Movements in Shareholders' Funds

								 Group	 	       Company
							--------------		--------------
							1996	  1995 		1996	  1995
52 weeks ended 24 February 1996 			  £m	    £m  	  £m	    £m
----------------------------------------------------------------------------------------------
Profit for the financial year 				 466 	   380 		 307 	   227
Dividends						 206	   177		 206	   177
							--------------		--------------
							 260 	   203		 101	    50 
Loss on foreign currency translation			  (1)	     -		   -	     -
New share capital subscribed less expenses		  22	    25		  22	    25 
Conversion of capital bonds				 200	     -		 200	     -
Payment of dividends by shares in lieu of cash 		  14 	    11		  14	    11 
Shares issued for acquisition of Wm Low & Company PLC	   -	   181		   -	   181 
Goodwill arising on acquisitions			 (11)	   (65)		   -	     -
							--------------		--------------

Net addition to shareholders’ funds			 484	   355		 337	   267 
Shareholders’ funds at 25 February 1995 	       3,104 	 2,749 	       1,862	 1,595
							--------------		-------------- 
Shareholders’ funds at 24 February 1996		       3,588	 3,104	       2,199	 1,862
							--------------		--------------
Accounting policies and notes forming part of these financial statements are on pages 38 to 57.


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