| |
|
2003 |
2002 |
| |
Note |
£m |
£m |
|
| Net cash inflow from operating activities |
20 |
373.6 |
382.4 |
| |
|
| Dividends received from joint ventures |
|
22.6 |
25.2 |
| |
|
| Returns on investments and servicing of finance |
|
|
|
| Interest received |
|
20.9 |
59.9 |
| Interest paid |
|
(303.6) |
(366.1) |
| Dividends received |
|
0.3 |
5.1 |
| |
|
| |
|
(282.4) |
(301.1) |
| |
|
| Taxation |
|
|
|
| UK corporation tax paid |
|
(6.1) |
(7.6) |
| Foreign tax paid |
|
(12.7) |
(0.1) |
| |
|
| |
|
(18.8) |
(7.7) |
| |
|
| Net cash inflow from operating activities and investments |
|
|
|
 after
finance charges and taxation |
|
95.0 |
98.8 |
| |
|
| Capital expenditure and financial investment |
|
|
|
| Purchase of investment properties and development expenditure |
|
(371.0) |
(426.1) |
| Purchase of investments |
|
(15.4) |
(8.5) |
| Sale of investment properties |
|
76.6 |
148.9 |
| Sale of investments |
|
|
158.4 |
| |
|
| |
|
(309.8) |
(127.3) |
| |
|
| Acquisitions and disposals |
|
|
|
| Purchase of interest in subsidiary companies |
10 |
(42.7) |
|
| Cash at bank acquired with interest in subsidiary companies |
|
5.8 |
|
| Investment in and loans to joint ventures |
|
(14.9) |
(176.0) |
| Sale of shares in and loans repaid by joint ventures |
|
91.0 |
150.5 |
| |
|
| |
|
39.2 |
(25.5) |
| |
|
| |
| Equity dividends paid |
|
(65.1) |
(60.6) |
| |
|
| Net cash outflow before management of liquid resources
and financing |
|
(240.7) |
(114.6) |
| |
|
| Management of liquid resources |
|
|
|
| Decrease (increase) in term deposits |
|
254.8 |
(281.5) |
| |
|
| Financing |
|
|
|
| Issue of ordinary shares |
|
1.3 |
0.9 |
| Purchase and cancellation of own shares |
|
(130.1) |
|
| Repurchase of 61/2% Convertible
Bonds 2007 |
|
(322.7) |
|
| Repurchase of bonds |
|
|
(300.0) |
| Issue of Sainsbury supermarkets securitised debt |
|
|
575.0 |
| Issue of Meadowhall Shopping Centre securitised debt |
|
|
825.0 |
| Increase (decrease) in bank and other borrowings |
|
463.2 |
(711.9) |
| |
|
| |
|
11.7 |
389.0 |
|
| Increase (decrease) in cash |
20 |
25.8 |
(7.1) |
|
