| |
 |
| |
|
Notes |
2003
£m |
2002
£m |
|
| Net cash inflow from operating activities |
28a |
663.6 |
249.7 |
|
| Dividends received from joint ventures |
|
4.0 |
- |
|
| |
|
|
|
| Returns on investments and servicing of finance |
|
|
|
| Interest received and similar income |
|
3.2 |
8.8 |
| Interest paid and similar charges on external financing |
|
(127.3) |
(141.0) |
| Interest element of finance lease payments |
|
(0.5) |
(0.6) |
| Net cash outflow from returns on investments and servicing of finance |
|
(124.6) |
(132.8) |
|
| |
|
|
|
| Taxation |
|
|
|
| UK corporation tax paid |
|
(17.6) |
– |
| Consortium relief (paid) received |
|
(0.3) |
22.5 |
| Net cash (outflow) inflow from taxation |
|
(17.9) |
22.5 |
|
| |
|
|
|
| Capital expenditure and financial investment |
|
|
|
| Payments to acquire tangible fixed assets |
|
(98.4) |
(100.8) |
| Receipts from sales of tangible fixed assets |
|
0.6 |
– |
| Receipts from sales of fixed asset investments |
|
0.8
|
0.4 |
| Receipts from sales of intangible fixed assets |
|
- |
0.6 |
| Purchase of own shares for Employee Share Ownership Plan (“ESOP”) |
|
- |
(26.9) |
| Net cash outflow from capital expenditure and financial investment |
|
(97.0) |
(126.7) |
|
| |
|
|
|
| Acquisitions and disposals |
|
|
|
| Funding to joint ventures |
|
(14.6)
|
(11.6) |
| Repayments of funding from joint ventures |
|
4.5
|
4.8 |
| Net cash outflow from acquisitions and disposals |
|
(10.1) |
(6.8) |
|
| Net cash inflow before management of liquid resources and financing |
|
418.0 |
5.9 |
|
| |
|
|
|
| Management of liquid resources |
|
|
|
| Decrease in short-term deposits |
28c |
0.5 |
69.5 |
|
| |
|
|
|
| Financing |
|
|
|
| Proceeds from issue of Ordinary Shares |
|
4.8 |
14.3 |
| Payments made on the issue of Ordinary Shares |
|
(0.1) |
(1.8) |
| Capital element of finance lease payments |
28b |
(1.6) |
(1.7) |
| Net decrease in total debt |
28b |
(425.0) |
(190.0) |
| Net cash outflow from financing |
|
(421.9) |
(179.2) |
|
| Decrease in cash |
28c |
(3.4) |
(103.8) |
|
| Decrease in net debt |
28c |
422.7 |
18.4 |
|
The accompanying notes are an integral part of this consolidated cash flow statement. |
| |
| Extract
from note 28 to consolidated cash flow statement |
|
|
| |
|
|
|
|
|
|
| a)Reconciliation
of operating profit to operating cash flows |
|
|
|
| |
|
|
|
|
| |
Before
goodwill
and
exceptional
items
£m |
Goodwill
and
exceptional
items
£m |
2003
Total
£m |
Before
goodwill
and
exceptional
items
£m |
Goodwill
and
exceptional
items
£m |
2002
Total
£m |
|
| |
|
|
|
|
|
|
| Operating
profit (loss) |
370.7 |
(116.7) |
254.0 |
191.5 |
(136.5) |
55.0 |
| Depreciation |
97.9 |
- |
97.9 |
81.1 |
- |
81.1
|
| Amortisation
of goodwill and other intangible fixed assets |
- |
121.5 |
121.5 |
0.1 |
118.3 |
118.4 |
| Profit
on sale of fixed assets |
(0.3) |
- |
(0.3) |
- |
- |
- |
| Decrease
in stock |
43.8 |
- |
43.8 |
9.9 |
- |
9.9 |
| Decrease
in debtors |
88.0 |
- |
88.0 |
77.9 |
22.3 |
100.2 |
| Increase
(decrease) in creditors |
59.6 |
- |
59.6 |
(80.5) |
- |
(80.5) |
| Provision
utilised, net |
(0.9) |
- |
(0.9) |
(0.3) |
(34.1) |
(34.4) |
| Net
cash inflow (outflow) from operating activities |
658.8 |
4.8 |
663.6 |
279.7 |
(30.0) |
249.7 |
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
BSkyB Publications