annual report 2007 - the Admiral Group plc

86 FINANCIAL STATEMENTS26. Analysis of movements in capital and reservesSharecapitalSharepremiumaccountCapitalredemptionreserveForeignexchangereserveRetainedprofit andlossTotalequity£000 £000 £000 £000 £000 £000As at 1 January 2006 260 13,145 17 - 167,990 181,412Retained profit for theperiod - - - - 103,722 103,722Dividends - - - - (70,104) (70,104)Issues of share capital 1 - - - - 1Currency translationdifferences - - - (50) - (50)Share scheme charges - - - - 2,667 2,667Deferred tax credit onshare scheme charges - - - - 1,407 1,407As at 31 December 2006 261 13,145 17 (50) 205,682 219,055Retained profit for theperiod - - - - 127,416 127,416Dividends - - - - (116,016) (116,016)Issues of share capital 2 - - - - 2Currency translationdifferences - - - 429 - 429Share scheme charges - - - - 5,560 5,560Deferred tax credit onshare scheme charges - - - - 1,186 1,186As at 31 December 2007 263 13,145 17 379 223,828 237,632The capital redemption reserve arose in 2002 on the redemption of shares previously in issue atbelow par.The foreign exchange reserve represents the net gains or losses on translation of the Group’s netinvestment in foreign operations.