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Notes to the condensed consolidated financial statements Basis of preparation Reconciliation of net profit to headline earnings Operating profit Fair value adjustments on financial instruments Finance costs Exceptional items Taxation Interests of all shareholders Investments in associates and joint ventures Long-term financial assets Discontinued operations and classified as held for sale Acquisition of subsidiaries, investments and intangibles Net investment in rental assets and car hire vehicles Commitments Contingent liabilities Related party transactions Subsequent events Comparative information Auditor's review

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.

BASIS OF PREPARATION The condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard IAS 34 Interim Financial Reporting. The accounting policies and methods of computation used are consistent with those used for the group’s 2007 annual financial statements (which were prepared in accordance with International Financial Reporting Standards), except for the adoption of the following amended or new standards and interpretations: – IFRS 7 Financial Instruments: Disclosures and related amendments to IAS 1 Presentation of Financial Statements – IFRIC 13 Customer Loyalty Programmes – IAS 32 (Revised) Financial Instruments: Presentation and related amendments to IAS 1 Presentation of Financial Statements (Capital disclosures) The impact on the condensed interim consolidated financial statements of adoption of these standards and interpretations was not significant. Comparative numbers have been reclassified as per note 18.

 

 

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