Consolidated Profit and Loss Account
Balance Sheets
Other Consolidated Primary Statements
Consolidated Cash Flow Statement
Notes to the Financial Statements
Major Investment Properties Summary
Financial Calendar
Shareholder Information
Ten Year Record
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|
Consolidated Cash Flow Statement
for the year ended 31 March 2004
Consolidated Cash Flow Statement
for the year ended 31 March 2004 |
|
Note |
|
2004
£m |
|
2003
£m |
|
| Net cash inflow from operating activities |
|
23 |
|
381.4 |
|
373.6 |
|
|
|
|
|
|
|
| Dividends received from joint ventures |
|
|
|
79.7 |
|
22.6 |
|
|
|
|
|
|
|
| |
| Returns on investments and servicing of finance |
|
|
|
|
|
|
| Interest received |
|
|
|
12.9 |
|
20.9 |
| Interest paid |
|
|
|
(301.5) |
|
(303.6) |
| Dividends received |
|
|
|
0.2 |
|
0.3 |
|
|
|
|
|
|
|
| |
|
|
|
(288.4) |
|
(282.4) |
|
|
|
|
|
|
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| Taxation |
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|
|
|
|
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| UK corporation tax paid |
|
|
|
(4.1) |
|
(6.1) |
| Foreign tax paid |
|
|
|
(5.5) |
|
(12.7) |
|
|
|
|
|
|
|
| |
|
|
|
(9.6) |
|
(18.8) |
|
|
|
|
|
|
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| Net cash inflow from operating activities
and investments after finance charges and taxation |
|
|
|
163.1 |
|
95.0 |
|
|
|
|
|
|
|
| |
| Capital expenditure and financial investment |
|
|
|
|
|
|
| Purchase of investment properties and development expenditure |
|
|
|
(316.9) |
|
(371.0) |
| Purchase of investments |
|
|
|
(10.8) |
|
(15.4) |
| Sale of investment properties |
|
|
|
171.3 |
|
76.6 |
| Sale of investments |
|
|
|
20.8 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
(135.6) |
|
(309.8) |
|
|
|
|
|
|
|
| |
| Acquisitions and disposals |
|
|
|
|
|
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| Purchase of interest in subsidiary companies |
|
|
|
(110.2) |
|
(42.7) |
| Cash at bank acquired with interest in subsidiary companies |
|
|
|
5.8 |
|
5.8 |
| Investment in and loans to joint ventures |
|
|
|
(34.8) |
|
(14.9) |
| Sale of shares in and loans repaid by joint ventures |
|
|
|
89.2 |
|
91.0 |
|
|
|
|
|
|
|
| |
|
|
|
(50.0) |
|
39.2 |
|
|
|
|
|
|
|
| |
| Equity dividends paid |
|
|
|
(67.0) |
|
(65.1) |
|
|
|
|
|
|
|
| |
| Net cash outflow before management of liquid resources and financing |
|
|
|
(89.5) |
|
(240.7) |
|
|
|
|
|
|
|
| |
| Management of liquid resources |
|
|
|
|
|
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| Decrease in term deposits |
|
|
|
11.9 |
|
254.8 |
|
|
|
|
|
|
|
| |
| Financing |
|
|
|
|
|
|
| Issue of ordinary shares |
|
|
|
1.7 |
|
1.3 |
| Purchase and cancellation of own shares |
|
|
|
(5.0) |
|
(130.1) |
| Purchase of ESOP shares |
|
|
|
(6.7) |
|
|
| Repurchase of 6½% Convertible Bonds 2007 |
|
|
|
|
|
(322.7) |
| Issue of Meadowhall Shopping Centre securitised debt |
|
|
|
50.7 |
|
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| Issue of Sainsbury supermarkets securitised debt |
|
|
|
84.0 |
|
|
| Redemption of Broadgate Class D Unsecured Notes 2014 |
|
|
|
(73.5) |
|
|
| Increase in bank and other borrowings |
|
|
|
73.4 |
|
463.2 |
|
|
|
|
|
|
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| |
|
|
|
124.6 |
|
11.7 |
|
| Increase in cash |
|
23 |
|
47.0 |
|
25.8 |
|
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