Group£m
At 1 April 20168.7
Disposals(0.9)
Currency translation differences1.2
At 31 March 20179.0
Disposals(1.0)
Currency translation differences(0.9)
At 31 March 20187.1

During the year, the group reduced its investment in Muharraq Holding Company 1 Limited through a £1.0 million (2017: £0.9 million) repayment of a shareholder loan.

At 31 March 2018, the group's investments mainly comprised its investment in Muharraq Holding Company 1 Limited. These investments are held at fair value.

Company

At 31 March 2018, the company's investments related solely to its investments in United Utilities PLC, which was recorded at a cost of £6,326.8 million (2017: £6,326.8 million).