Year ended 31 March 2004		2004	2003
	Notes	£m	£m
Net cash inflow from continuing operations:
– Ongoing operating activities	23(i)	105.4	74.8
– Exceptional items	23(i)	-	10.4
Net cash inflow from operating activities		105.4	85.2
Dividends from joint venture		0.7	1.2
Returns on investments and servicing of finance
Interest received		7.3	9.5
Dividends received		0.1	-
Net cash inflow from returns on investments and servicing of finance		7.4	9.5
Taxation
Corporation tax paid		(22.2)	(25.2)
Capital expenditure and financial investments
Payments to acquire tangible fixed assets		(54.2)	(28.1)
Receipts from sale of fixed asset investments		2.2	0.7
Net cash outflow from capital expenditure and financial investments		(52.0)	(27.4)
Acquisitions
Acquisition of subsidiary undertaking	23(ii)	(15.5)	(11.8)
Net cash acquired with subsidiary undertaking	23(ii)	-	0.5
Net cash outflow for acquisitions		(15.5)	(11.3)
Dividends paid		(12.9)	(11.1)
Net cash inflow before use of liquid resources and financing		10.9	20.9
Management of liquid resources
Increase in term deposits	23(iii)	(16.0)	(21.0)
Financing
Issue of ordinary share capital to minority interest		1.1	0.2
Loans received from minority shareholder
due within one year		2.9	-
due after one year		0.5	-
Issue of loan notes		1.5	-
Increase in cash in the year	23(iii)	0.9	0.1

Click here to view the notes.

Note: The financial information above is an abridged version of the Group's full accounts for the years ended 31 March 2003 and 31 March 2004, each of which carry an unqualified audit report. The March 2003 accounts have been delivered to the Registrar of Companies. In order to give a true and fair reflection of the business, the information above should be read in conjunction with such full accounts.