Consolidated Cash Flow Statement
for the years ended 31 March
| Note | 2008 £m |
2007 £m |
2006 £m |
|
|---|---|---|---|---|
| Net cash flows from operating activities | 29, 30 | 10,474 | 10,328 | 11,841 |
| Cash flows from investing activities | ||||
| Purchase of interests in subsidiary undertakings and joint ventures, net of cash acquired | (5,957) | (2,805) | (4,186) | |
| Disposal of interests in subsidiary undertakings, net of cash disposed | – | 6,767 | 599 | |
| Disposal of interests in associated undertakings | – | 3,119 | – | |
| Purchase of intangible assets | (846) | (899) | (690) | |
| Purchase of property, plant and equipment | (3,852) | (3,633) | (4,481) | |
| Purchase of investments | (96) | (172) | (57) | |
| Disposal of property, plant and equipment | 39 | 34 | 26 | |
| Disposal of investments | 785 | 80 | 1 | |
| Dividends received from associated undertakings | 873 | 791 | 835 | |
| Dividends received from investments | 72 | 57 | 41 | |
| Interest received | 438 | 526 | 319 | |
| Net cash flows from investing activities | 29 | (8,544) | 3,865 | (7,593) |
| Cash flows from financing activities | ||||
| Issue of ordinary share capital and reissue of treasury shares | 310 | 193 | 356 | |
| Net movement in short term borrowings | (716) | 953 | 708 | |
| Proceeds from issue of long term borrowings | 1,711 | 5,150 | 5,256 | |
| Repayment of borrowings | (3,847) | (1,961) | (1,371) | |
| Loans repaid to associated undertakings | – | – | (47) | |
| Purchase of treasury shares | – | (43) | (6,457) | |
| B share capital redemption | (7) | (5,713) | – | |
| B share preference dividends paid | – | (3,291) | – | |
| Equity dividends paid | (3,658) | (3,555) | (2,749) | |
| Dividends paid to minority shareholders in subsidiary undertakings | (113) | (34) | (51) | |
| Interest paid | (1,545) | (1,051) | (721) | |
| Net cash flows from financing activities | 29 | (7,865) | (9,352) | (5,076) |
| Net cash flows | (5,935) | 4,841 | (828) | |
| Cash and cash equivalents at beginning of the financial year | 18 | 7,458 | 2,932 | 3,726 |
| Exchange gain/(loss) on cash and cash equivalents | 129 | (315) | 34 | |
| Cash and cash equivalents at end of the financial year | 18 | 1,652 | 7,458 | 2,932 |
The accompanying notes are an integral part of these Consolidated Financial Statements.