Year ended 30 June 2016Attributable to owners of the parent
Issued share capital
£000
Share premium account
£000
Own shares
£000
Hedging reserve
£000
Foreign currency translation reserve
£000
Merger reserve
£000
Retained earnings
£000
Total
£000
Non-controlling interests
£000
Total equity
£000
At 1 July 2015880124,801(303)(94)(27,547)1,77094,981194,488194,488
Profit/(loss) for the period12,66812,668(156)12,512
Effective portion of changes in fair value of cash flow hedges, net of tax(154)(154)(154)
Losses arising on available for sale financial assets(450)(450)(450)
Foreign currency translation differences for foreign operations, net of tax33,07133,07127933,350
Remeasurement of defined benefit pension scheme, net of tax(1,166)(1,166)(1,166)
Cash flow hedges recycled to income statement, net of tax233233233
Total comprehensive income7933,07111,05244,20212344,325
Transactions with owners:
Dividends paid(15,292)(15,292)(15,292)
Share-based payments3,5363,5363,536
Shares issued4747,65047,69747,697
Acquisition of non-controlling interests1,8581,858
Own shares recycled to retained earnings282(282)
Total contributions by and distributions to owners4747,650282(12,038)35,9411,85837,799
At 30 June 2016927172,451(21)(15)5,5241,77093,995274,6311,981276,612
Year ended 30 June 2017
At 1 July 2016927172,451(21)(15)5,5241,77093,995274,6311,981276,612
Profit for the period26,10526,105526,110
Recycle of losses arising on available for sale financial assets343343343
Foreign currency translation differences for foreign operations, net of tax12,71712,71716012,877
Remeasurement of defined benefit pension scheme, net of tax1,5391,5391,539
Cash flow hedges recycled to income statement, net of tax151515
Total comprehensive income1512,71727,98740,71916540,884
Transactions with owners:
Dividends paid(17,664)(17,664)(17,664)
Share-based payments3,1043,1043,104
Shares issued5925930930
Acquisition of non-controlling interests(583)(583)
Own shares purchased(646)(646)(646)
Total contributions by and distributions to owners5925(646)(14,560)(14,276)(583)(14,859)
At 30 June 2017932173,376(667)18,2411,770107,422301,0741,563302,637

Hedging Reserve

The hedging reserve represents the cumulative fair value gains or losses on derivative financial instruments for which cash flow hedge accounting has been applied, net of tax.

Foreign Currency Translation Reserve

The foreign currency translation reserve contains exchange differences on the translation of subsidiaries with a functional currency other than Sterling and exchange gains or losses on the translation of liabilities that hedge the Company's net investment in foreign subsidiaries.

Merger Reserve

The merger reserve represents the excess of fair value over nominal value of shares issued in consideration for the acquisition of subsidiaries where statutory merger relief has been applied in the financial statements of the Parent Company.