Consolidated cash flow statement
for the year ended 30 September 2006
 |
|
|||
| 2006 £m |
2005 £m |
|||
| Cash generated from operations | 754 | 699 | ||
| Interest paid | (186 | ) | (161 | ) |
| Interest element of finance lease rentals | (3 | ) | (3 | ) |
| Tax received | 4 | 23 | ||
| Tax paid | (101 | ) | (91 | ) |
| Net cash from operating activities for continuing operations | 468 | 467 | ||
| Net cash from operating activities for discontinued operations | 29 | 181 | ||
| Net cash from operating activities | 497 | 648 | ||
| Cash flow from investing activities | ||||
| Purchase of subsidiary companies and investments in associated undertakings | (167 | ) | (121 | ) |
| Proceeds from sale of subsidiary companies and associated undertakings | 1,807 | 75 | ||
| Contribution of disposal proceeds to pension plans | (280 | ) | – | |
| Purchase of property, plant and equipment | (206 | ) | (248 | ) |
| Proceeds from sale of property, plant and equipment | 27 | 35 | ||
| Purchase of intangible assets | (30 | ) | (20 | ) |
| Dividends received from associated undertakings | 2 | 4 | ||
| Interest received | 15 | 4 | ||
| Net cash from/(used in) investing activities by continuing operations | 1,168 | (271 | ) | |
| Net cash used in investing activities by discontinued operations | (59 | ) | (65 | ) |
| Net cash from/(used in) investing activities | 1,109 | (336 | ) | |
| Cash flow from financing activities | ||||
| Issue of ordinary share capital | 2 | 1 | ||
| Purchase of own shares (net) | (148 | ) | – | |
| Net decrease in borrowings | (647 | ) | (32 | ) |
| Repayment of obligations under finance leases | (15 | ) | (16 | ) |
| Equity dividends paid | (213 | ) | (205 | ) |
| Dividends paid to minority interests | (11 | ) | (15 | ) |
| Net cash used in financing activities by continuing operations | (1,032 | ) | (267 | ) |
| Net cash used in financing activities by discontinued operations | – | (1 | ) | |
| Net cash used in financing activities | (1,032 | ) | (268 | ) |
| Net increase in cash and cash equivalents | 574 | 44 | ||
| Cash and cash equivalents at beginning of the year | 281 | 233 | ||
| Exchange gains and losses on cash and cash equivalents | (7 | ) | 4 | |
| Cash and cash equivalents at end of the year | 848 | 281 | ||
Reconciliation of free cash flow from continuing operations
for the year ended 30 September 2006
|
|
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| 2006 £m |
2005 £m |
|||
| Net cash from operating activities for continuing operations | 468 | 467 | ||
| Purchase of property, plant and equipment | (206 | ) | (248 | ) |
| Proceeds from sale of property, plant and equipment | 27 | 35 | ||
| Purchase of intangible assets | (30 | ) | (20 | ) |
| Dividends received from associated undertakings | 2 | 4 | ||
| Interest received | 15 | 4 | ||
| Dividends paid to minority interests | (11 | ) | (15 | ) |
| Free cash flow – continuing operations | 265 | 227 | ||
The Annual Review 2006 does not contain sufficient information to allow a full understanding of the results of the Group. The separate Annual Report 2006 constitutes the full Annual Financial Statements and can be downloaded in PDF format (3.2Mb) from this site.