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Notes to the consolidated financial statements
5. Finance costs
| 2007 £m |
2006 £m |
|
|---|---|---|
| Interest payable | ||
| – Bank loans and overdrafts | 171 | 110 |
| – Finance lease charges | 5 | 3 |
| Net pension finance cost (note 27) | 2 | 1 |
| Valuation (gains)/losses on financial instruments | ||
| – Derivatives held at fair value through profit and loss | (2) | 27 |
| – Loans in a fair value hedging relationship | 2 | (26) |
| – Recycled from equity | (1) | (1) |
| Total finance costs | 177 | 114 |