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2. Profit and loss account

As permitted by section 230 of the Companies Act 1985 the Company has elected not to present its own profit and loss account for the year. The profit for the year ended 31 December 2008 was £151 million (2007 – £162 million).

Auditors’ remuneration for audit services to the Company was £0.7 million (2007 – £0.6 million).