Consolidated Reconciliation of Movements in Shareholders' Funds
for the years ended 31 March
 
2003 
2002 
 
US$m 
US$m 
Profit for the financial year
296 
293 
Other recognised gains and losses relating to the year (net)
431 
(204)
Goodwill written back on the partial disposal of subsidiary
– 
Dividends declared by SABMiller plc
(283)
(187)
Nominal value of shares issued for the acquisition of
 
 
   Miller Brewing Company
43 
– 
Merger relief reserve arising on shares issued for the
   acquisition of Miller Brewing Company
3,395 
– 
Profit on redemption of redeemable preference shares held
   in subsidiary company
– 
390 
Nominal value of shares issued for the acquisition of
   preference shares in South African Breweries
   Finance (Jersey) Ltd
– 
Net proceeds on ordinary shares issued for cash
Net increase in shareholders' funds

3,892 

303 

Shareholders' funds at start of year
2,309 
2,006 
Shareholders' funds at end of year

6,201 

2,309 

     
The amount of cumulative goodwill in respect of purchased subsidiary and associated undertakings which has been set off against shareholders' funds prior to 31 March 1998 was US$167 million at 31 March 2003 (2002: US$151 million).