 |
| Year ended |
|
|
|
|
|
| 31 March 2003 |
|
|
Note |
2003 |
2002 |
| Audited |
|
|
|
Unaudited |
Unaudited |
| £m |
|
|
|
£m |
£m |
|
| 373.6 |
|
Net cash inflow from operating activities |
14 |
206.4 |
178.4 |
|
 |
|
| 22.6 |
|
Dividends received from joint ventures |
|
1.5 |
5.6 |
|
|
|
| |
| |
|
Returns on investments and servicing of finance |
|
|
|
| 20.9 |
|
Interest received |
|
6.2 |
9.3 |
| (303.6) |
|
Interest paid |
|
(147.3) |
(164.0) |
| 0.3 |
|
Dividends received |
|
0.1 |
|
|
|
|
| (282.4) |
|
|
|
(141.0) |
(154.7) |
|
|
|
| |
| (18.8) |
|
Taxation paid |
|
(1.0) |
(9.0) |
|
|
|
| |
|
Net cash inflow from operating activities and |
|
|
|
| 95.0 |
|
investments after finance charges and taxation |
|
65.9 |
20.3 |
|
|
|
| |
| |
|
Capital expenditure and financial investment |
|
|
|
| (371.0) |
|
Purchase of investment properties and development expenditure |
|
(122.1) |
(118.3) |
| (15.4) |
|
Purchase of investments |
|
(10.2) |
(0.2) |
| 76.6 |
|
Sale of investment properties |
|
73.2 |
20.5 |
| |
|
Sale of investments |
|
16.4 |
|
|
|
|
| (309.8) |
|
|
|
(42.7) |
(98.0) |
|
|
|
| |
| |
|
Acquisitions and disposals |
|
|
|
| (42.7) |
|
Purchase of interest in subsidiary companies |
|
|
(12.0) |
| 5.8 |
|
Cash at bank acquired with interest in subsidiary companies |
|
|
0.3 |
| (14.9) |
|
Investment in and loans to joint ventures |
|
|
(8.5) |
| 91.0 |
|
Sale of shares in and loans repaid by joint ventures |
|
48.1 |
52.6 |
|
|
|
| 39.2 |
|
|
|
48.1 |
32.4 |
|
|
|
| |
| (65.1) |
|
Equity dividends paid |
|
(45.4) |
(44.6) |
|
|
|
| |
|
Net cash inflow (outflow) before management of |
|
|
|
| (240.7) |
|
liquid resources and financing |
|
25.9 |
(89.9) |
|
|
|
| |
| |
|
Management of liquid resources |
|
|
|
| 254.8 |
|
Decrease in term deposits |
|
2.7 |
242.0 |
|
|
|
| |
| |
|
Financing |
|
|
|
| 1.3 |
|
Issue of ordinary shares |
|
0.2 |
1.2 |
| (130.1) |
|
Purchase and cancellation of own shares |
|
(5.0) |
(1.5) |
| (322.7) |
|
Repurchase of 6 1/2% Convertible Bonds 2007 |
|
|
(322.7) |
| |
|
Issue of Meadowhall Shopping Centre securitised debt |
|
50.7 |
|
| |
|
Redemption of Broadgate Class D Unsecured Notes 2014 |
|
(73.5) |
|
| 463.2 |
|
(Decrease) increase in bank and other borrowings |
|
(17.6) |
186.5 |
|
|
|
| 11.7 |
|
|
|
(45.2) |
(136.5) |
|
| 25.8 |
|
(Decrease) increase in cash |
14 |
(16.6) |
15.6 |
|
