|At the start of the period||11.5||7.1|
|Change in fair value||0.6||4.4|
|Reduction in investment stake||(1.1)||(1.0)|
|Disposal of investment||(10.9)||–|
|Currency translation differences||–||1.0|
|At the end of the period||0.1||11.5|
On 3 December 2019, the group completed the disposal of its overseas investment in the Muharraq sewerage treatment plant (STP). Consideration for the disposal was equal to the fair value at which the asset was carried resulting in no gain or loss on disposal.
At 31 March 2020, the company's investments related solely to its investments in United Utilities PLC, which was recorded at a cost of £6,326.8 million (2019: £6,326.8 million).