 |
 |
|
|
2004
£m |
2003
£m |
|
| Net
cash inflow from operating activities |
882 |
664 |
|
| Dividends
received from joint ventures |
4 |
4 |
|
|
|
|
| Returns
on investments and servicing of finance |
|
|
| Interest
received and similar income |
7 |
3 |
| Interest
paid and similar charges |
(89) |
(127) |
| Interest
element of finance lease payments |
- |
(1) |
Net
cash outflow from returns on investments
and servicing of finance |
(82) |
(125) |
|
| |
|
|
| Taxation |
|
|
| UK
corporation tax paid |
(55) |
(18) |
| Consortium
relief paid |
(3) |
- |
| Net
cash outflow from taxation |
(58) |
(18) |
|
| |
|
|
| Capital
expenditure and financial investment |
|
|
| Payments
to acquire tangible fixed assets |
(132) |
(98) |
| Receipts
from sales of fixed asset investments |
116 |
1 |
Net
cash outflow from capital expenditure and
financial investment |
(16) |
(97) |
|
| |
|
|
| Acquisitions
and disposals |
|
|
| Funding
to joint ventures and associates |
(5) |
(15) |
| Repayments
of funding from joint ventures and associates |
6 |
5 |
| Net
cash inflow (outflow) from acquisitions and
disposals |
1 |
(10) |
|
| |
|
|
| Equity
dividends paid |
(53) |
- |
|
| |
Net
cash inflow before management of liquid
resources
and financing |
678 |
418 |
|
|
|
|
| Management
of liquid resources |
(511) |
1 |
|
| |
|
|
| Financing |
|
|
| Proceeds
from issue of Ordinary Shares |
20 |
5 |
| Purchase
of own shares for Employee Share Ownership
Plan |
(22) |
- |
| Capital
element of finance lease payments |
(1) |
(2) |
| Net
decrease in debt due after more than one year |
(75) |
(425) |
| Net
cash outflow from financing |
(78) |
(422) |
|
| Increase
(decrease) in cash |
89 |
(3) |
|
| Decrease
in net debt |
676 |
423 |
|
| |
Extract from note 27 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 |
2004
Total
£m |
Before
goodwill
and
exceptional
items
as restated
£m |
Goodwill
and exceptional items
£m |
2003
Total
as restated
£m |
|
Operating profit |
600 |
(119) |
481 |
364 |
(116) |
248 |
| Depreciation |
102 |
– |
102 |
98 |
– |
98 |
Amortisation
of goodwill and other intangible fixed assets |
– |
119 |
119 |
– |
121 |
121 |
Loss on disposal
of tangible fixed assets |
1 |
– |
1 |
– |
– |
– |
| (Increase) decrease
in stock |
(5) |
– |
(5) |
44 |
– |
44 |
Decrease
in debtors |
17 |
– |
17 |
88 |
– |
88 |
Increase
in creditors |
170 |
– |
170 |
66 |
– |
66 |
| Decrease in provision |
(3) |
– |
(3) |
(1) |
– |
(1) |
| Net cash inflow
from operating activities |
882 |
– |
882 |
659 |
5 |
664 |
|
|
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