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23 Notes to the cash flow statement
Reconciliation of operating profit to net cash inflow from operating
activities |
2004 £m |
2003 Restated £m |
|---|---|---|
Operating profit |
421.8 |
382.0 |
Dividends received |
(0.2) |
(0.3) |
Depreciation and release of negative goodwill |
(0.9) |
0.6 |
Adjustment for share options, share awards and pension funding |
(3.3) |
(1.6) |
Decrease in trading properties |
4.6 |
1.3 |
Decrease (increase) in debtors |
15.1 |
(17.2) |
(Decrease) increase in creditors |
(55.7) |
8.8 |
Net cash inflow from operating activities |
381.4 |
373.6 |
Analysis of Group net debt |
1 April 2003 £m |
Acquisitions* £m |
Cash flow £m |
Non cash movement £m |
31 March 2004 £m |
|---|---|---|---|---|---|
Cash at bank |
(50.3) |
(45.9) |
(96.2) |
||
Overdraft |
8.4 |
(1.1) |
7.3 |
||
Net cash per cash flow statement |
(41.9) |
(47.0) |
(88.9) |
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Term debt |
4,345.9 |
402.7 |
134.6 |
1.0 |
4,884.2 |
Convertible Bonds |
146.8 |
2.2 |
149.0 |
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Term deposits |
(89.4) |
11.9 |
(77.5) |
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Group net debt |
4,361.4 |
402.7 |
99.5 |
3.2 |
4,866.8 |
* Excluding cash and overdrafts.
Reconciliation of net cash flow to movement in Group net debt |
2004 £m |
2003 £m |
|
|---|---|---|---|
Brought forward |
4,361.4 |
3,840.4 |
|
Movement in net debt in the year: |
|||
Increase in cash |
(47.0) |
(25.8) |
|
Cash inflow from movement in debt |
134.6 |
463.2 |
|
Cash outflow to repurchase Convertible Bonds |
(322.7) |
||
Cash inflow from term deposits |
11.9 |
254.8 |
|
Changes resulting from cash flows |
99.5 |
369.5 |
|
Other non cash movements including acquisitions |
405.9 |
151.5 |
|
505.4 |
521.0 |
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Carried forward |
4,866.8 |
4,361.4 |
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