Notes to the consolidated financial statements

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31 March

 

2011
£m

2010
£m

Raw materials and consumables

288

202

Work in progress

16

19

Finished goods

150

188

Total

454

409

Finished goods inventories of £4 million (2010 – £2 million) are carried at realisable value, this being lower than cost. Inventories of £197 million (2010 – £60 million) are carried at market value.

In 2010, the Group recognised an impairment charge of £4 million against finished goods inventories at its sugar refining business in Israel, which was included in exceptional items. The sugar refining business in Israel has been classed as an asset held for sale at 31 March 2011 and is reported in discontinued operations.