Source: Extract from Annual Report 2007
for the year ended 31 December
Notes |
2007 £m |
2006 £m |
|
|---|---|---|---|
| Profit for the year from continuing operations | 900 | 646 | |
| Profit for the year from discontinued operations | 22 | 993 | |
| Profit for the year | 922 | 1,639 | |
| Taxation expense – continuing operations | 335 | 213 | |
| Taxation expense – discontinued operations | – | 4 | |
| Share of results of equity accounted investments – continuing operations | 14 | (139) | (113) |
| Share of results of equity accounted investments – discontinued operations | – | (70) | |
| Net finance costs – continuing operations | (58) | 195 | |
| Net finance costs – discontinued operations | – | (2) | |
| Depreciation, amortisation and impairment | 610 | 422 | |
| Loss/(gain) on disposal of property, plant and equipment | 4,5 | 3 | (60) |
| Gain on disposal of investment property | 5 | (47) | (84) |
| Gain on disposal of non-current other investments | (8) | – | |
| Gain on disposal of businesses – continuing operations | 4,5 | (40) | (13) |
| Gain on disposal of businesses – discontinued operations | 9 | (22) | (925) |
| Impairment of other investments | 15 | – | 2 |
| Cost of equity-settled employee share schemes | 34 | 21 | |
| Movements in provisions | 52 | 47 | |
| Decrease in liabilities for retirement benefit obligations | (233) | (834) | |
| (Increase)/decrease in working capital: | |||
| Inventories | (188) | 28 | |
| Trade and other receivables | (271) | (187) | |
| Trade and other payables | 1,212 | 495 | |
| Cash inflow from operating activities | 2,162 | 778 | |
| Interest paid | (224) | (315) | |
| Interest element of finance lease rental payments | (6) | (11) | |
| Taxation paid | (112) | (85) | |
| Net cash inflow from operating activities | 1,820 | 367 | |
| Dividends received from equity accounted investments – continuing operations | 78 | 57 | |
| Dividends received from equity accounted investments – discontinued operations | – | 88 | |
| Interest received | 175 | 139 | |
| Purchases of property, plant and equipment | (307) | (419) | |
| Purchases of intangible assets | (31) | (27) | |
| Equity accounted investment funding | (4) | – | |
| Proceeds from sale of property, plant and equipment | 13 | 135 | |
| Proceeds from sale of investment property | 53 | 174 | |
| Proceeds from sale of non-current other investments | 15 | 1 | |
| Purchase of non-current other investments | 15 | (1) | (5) |
| Purchase of subsidiary undertakings | 29,31 | (1,731) | (12) |
| Net cash acquired with subsidiary undertakings | 6 | – | |
| Purchase of equity accounted investments | (1) | (4) | |
| Proceeds from sale of subsidiary undertakings | 9 | 96 | 174 |
| Cash and cash equivalents disposed of with subsidiary undertakings | (1) | (40) | |
| Proceeds from sale of equity accounted investments | 9 | 57 | 1,212 |
| Proceeds from sale of Exchange Property | 15 | – | 557 |
| Net proceeds from sale/(purchase) of other deposits/securities | 343 | (468) | |
| Net cash (outflow)/inflow from investing activities | (1,240) | 1,562 | |
| Capital element of finance lease rental payments | (25) | (45) | |
| Proceeds from issue of share capital | 27 | 805 | 53 |
| Purchase of treasury shares | 27 | (152) | (112) |
| Purchase of own shares | 27 | (50) | (12) |
| Equity dividends paid | 30 | (396) | (346) |
| Dividends paid to minority interests | (1) | – | |
| Dividends paid on preference shares | (10) | (20) | |
| Cash inflow from loans | – | 66 | |
| Cash outflow from repayment of loans | (782) | (921) | |
| Net cash outflow from financing activities | (611) | (1,337) | |
| Net (decrease)/increase in cash and cash equivalents | (31) | 592 | |
| Cash and cash equivalents at 1 January | 3,074 | 2,491 | |
| Effect of foreign exchange rate changes on cash and cash equivalents | 3 | (9) | |
| Cash and cash equivalents at 31 December | 3,046 | 3,074 | |
| Comprising: Cash and cash equivalents | 3,062 | 3,100 | |
| Overdrafts | (16) | (26) | |
| Cash and cash equivalents at 31 December | 3,046 | 3,074 |
