for the years ended 31 March |
|
|
2004 |
|
2003 |
|
2002 |
|
Notes |
|
£m |
|
£m |
|
£m |
 |
| Net cash inflow from operating activities before exceptional
items |
27(a) |
|
3,058 |
|
3,154 |
|
2,394 |
| Expenditure relating to exceptional items |
|
|
(248) |
|
(328) |
|
(103) |
| Net cash inflow from operating activities |
|
|
2,810 |
|
2,826 |
|
2,291 |
|
| Dividends from joint ventures |
|
|
8 |
|
11 |
|
13 |
|
| Returns on investments and servicing of finance |
|
|
|
|
|
|
|
| Interest received and similar income |
|
|
137 |
|
56 |
|
88 |
| Interest paid and similar charges |
|
|
(823) |
|
(957) |
|
(784) |
| Dividends paid to minority interests |
|
|
(6) |
|
(11) |
|
(9) |
| Net cash outflow for returns on investments and servicing
of finance |
|
|
(692) |
|
(912) |
|
(705) |
|
| Taxation |
|
|
|
|
|
|
|
| Net corporate tax paid |
|
|
(18) |
|
(112) |
|
(212) |
|
| Capital expenditure and financial investment |
|
|
|
|
|
|
|
| Net payments to acquire intangible and tangible fixed assets |
|
|
(1,400) |
|
(1,518) |
|
(1,734) |
| Receipts from disposals of tangible fixed assets |
|
|
146 |
|
111 |
|
191 |
| Receipts from disposals of shares by an employee share plan |
|
|
– |
|
– |
|
50 |
| Other |
|
|
– |
|
– |
|
10 |
| Net cash outflow for capital expenditure and financial investment |
|
|
(1,254) |
|
(1,407) |
|
(1,483) |
|
| Acquisitions and disposals |
|
|
|
|
|
|
|
| Payments to acquire investments |
|
|
(26) |
|
(165) |
|
(56) |
| Receipts from disposals of investments |
27(b) |
|
33 |
|
328 |
|
37 |
| Acquisition of Group undertaking |
27(c) |
|
– |
|
– |
|
(950) |
| Net cash inflow/(outflow) for acquisitions and disposals |
|
|
7 |
|
163 |
|
(969) |
|
| Equity dividends paid |
|
|
(560) |
|
(571) |
|
(478) |
| |
| Net cash inflow/(outflow) before the management of liquid resources
and financing |
|
|
301 |
|
(2) |
|
(1,543) |
|
| Management of liquid resources |
|
|
|
|
|
|
|
| (Increase)/decrease in short-term deposits |
|
|
(48) |
|
(138) |
|
347 |
| Net cash (outflow)/inflow from the management of liquid
resources |
27(d),(e) |
|
(48) |
|
(138) |
|
347 |
|
| Financing |
|
|
|
|
|
|
|
| Issue of ordinary shares |
|
|
38 |
|
4 |
|
12 |
| Payments to repurchase ordinary shares |
|
|
– |
|
(97) |
|
– |
| Termination of cross currency swaps |
27(d) |
|
148 |
|
– |
|
– |
| (Decrease)/increase in borrowings |
27(d),(e) |
|
(426) |
|
267 |
|
1,206 |
| Net cash (outflow)/inflow from financing |
|
|
(240) |
|
174 |
|
1,218 |
|
| Movement in cash and overdrafts |
27(d),(e) |
|
13 |
|
34 |
|
22 |
|
Included in the cash flows above are cash flows for discontinued operations as set out below:
|
|
|
|
2004 |
|
2003 |
|
2002 |
|
|
|
£m |
|
£m |
|
£m |
|
| Net cash inflow/(outflow) from operating activities |
|
|
5 |
|
(70) |
|
53 |
| Net cash outflow for returns on investments and servicing of finance |
|
|
(2) |
|
(14) |
|
(3) |
| Net cash (outflow)/inflow for taxation |
|
|
– |
|
(1) |
|
13 |
| Net cash outflow for capital expenditure and financial investment |
|
|
(1) |
|
(123) |
|
(344) |
| Net cash outflow for acquisitions and disposals |
|
|
– |
|
(3) |
|
(12) |
|
| Net cash inflow/(outflow) before the management of liquid resources and financing |
|
|
2 |
|
(211) |
|
(293) |
|
