Notes to the consolidated financial statements

The following exchange rates have been applied in the translation of the financial statements of foreign subsidiaries, joint ventures and associates:

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Year to 31 March

 

2011

2010

Average foreign exchange rates

 

 

£1 = US$

1.55

1.61

£1 = €

1.19

1.13

 

 

 

 

31 March

 

2011

2010

Year end foreign exchange rates

 

 

£1 = US$

1.60

1.52

£1 = €

1.13

1.12