Consolidated Income Statement
Consolidated Balance Sheet
For the year ended 30 April 2009
| Notes | 2009 £m |
2008 £m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Cash generated by operations | 33 | 269.6 | 260.0 |
| Interest paid | (41.7) | (45.6) | |
| Interest received | 8.7 | 21.4 | |
| Dividends received from joint ventures | 44.9 | 31.6 | |
| Net cash flows from operating activities before tax | 281.5 | 267.4 | |
| Tax (paid)/received | (3.7) | 57.6 | |
| Net cash from operating activities after tax | 277.8 | 325.0 | |
| Cash flows from investing activities | |||
| Acquisition of subsidiaries, net of cash acquired | 17 | (19.0) | (7.3) |
| Disposals and closures of subsidiaries and other businesses, net of cash disposed of | 18 | 0.3 | 3.6 |
| Cash outflow in respect of inception of rail franchise | Nil | (0.5) | |
| Purchase of property, plant and equipment | (94.9) | (45.3) | |
| Disposal of property, plant and equipment | 33 | 12.8 | 9.2 |
| Purchase of intangible assets | (0.4) | (1.0) | |
| Purchase of other investments | Nil | (0.3) | |
| Movement in loans to joint ventures | (0.4) | (0.3) | |
| Net cash outflow from investing activities | (101.6) | (41.9) | |
| Cash flows from financing activities | |||
| Issue of ordinary shares for cash | 1.4 | 7.7 | |
| VAT recovered on professional fees previously applied to share premium | 0.2 | Nil | |
| Return of value to shareholders | |||
| – Redemption and purchase of ‘B’ shares and ‘C’ shares | (2.7) | (397.0) | |
| – Dividends paid on ‘C’ shares | Nil | (284.6) | |
| – Costs associated with the return of value | Nil | (3.3) | |
| Investment in own ordinary shares by employee share ownership trusts | (2.8) | (8.4) | |
| Sale of own ordinary shares by employee share ownership trusts | 1.5 | 3.1 | |
| Repayments of hire purchase and lease finance | (47.5) | (33.1) | |
| Proceeds of sale and leaseback transaction | 20.3 | Nil | |
| Movement in other borrowings | (96.5) | 212.8 | |
| Dividends paid on ordinary shares | (41.8) | (30.0) | |
| Sale of tokens | 4.5 | 4.4 | |
| Redemption of tokens | (5.3) | (6.0) | |
| Net cash used in financing activities | (168.7) | (534.4) | |
| Net increase/(decrease) in cash and cash equivalents | 7.5 | (251.3) | |
| Cash and cash equivalents at the beginning of year | 261.6 | 512.5 | |
| Exchange rate effects | 8.2 | 0.4 | |
| Cash and cash equivalents at the end of year | 22 | 277.3 | 261.6 |
| Cash and cash equivalents at the end of year comprises: | |||
| Cash and cash equivalents included within current assets | 277.3 | 262.2 | |
| Bank overdrafts included within borrowings | Nil | (0.6) | |
| 277.3 | 261.6 | ||
Cash and cash equivalents for the purposes of the consolidated cash flow statement comprise cash at bank and in hand, overdrafts and other short-term highly liquid investments with maturities at the balance sheet date of three months or less.
The accompanying notes form an integral part of this consolidated cash flow statement.
