Consolidated Cash Flow Statement
for the six months ended 30 September 2004
| Year ended 31 March 2004 Audited £m |
|
Note |
2004 Unaudited £m |
2003 Unaudited £m |
|---|---|---|---|---|
| 47.0 | (Decrease) increase in cash | 15 | (27.3) | (16.6) |
| 381.4 | Net cash inflow from operating activities | 15 | 222.4 | 206.4 |
| 79.7 | Dividends received from joint ventures | 6.8 | 1.5 | |
| Returns on investments and servicing of finance | ||||
| 12.9 | Interest received | 2.8 | 6.2 | |
| (301.5) | Interest paid | (159.8) | (147.3) | |
| 0.2 | Dividends received | 0.1 | ||
| (288.4) | (157.0) | (141.0) | ||
| Taxation | ||||
| (4.1) | UK corporation tax paid | (5.1) | ||
| (5.5) | Foreign tax paid | (1.9) | (1.0) | |
| (9.6) | (7.0) | (1.0) | ||
| 163.1 | Net cash inflow from operating activities and investments after finance charges and taxation | 65.2 | 65.9 | |
| Capital expenditure and financial investment | ||||
| (316.9) | Purchase of investment properties and development expenditure | (136.0) | (122.1) | |
| (10.8) | Purchase of investments | (97.4) | (10.2) | |
| 171.3 | Sale of investment properties | 16.4 | 73.2 | |
| 20.8 | Sale of investments | 16.4 | ||
| (135.6) | (217.0) | (42.7) | ||
| Acquisitions and disposals | ||||
| (110.2) | Purchase of interest in subsidiary companies | |||
| 5.8 | Cash at bank acquired with interest in subsidiary companies | |||
| (34.8) | Investment in and loans to joint ventures | (3.1) | ||
| 89.2 | Sale of shares in and loans repaid by joint ventures | 48.1 | ||
| (50.0) | (3.1) | 48.1 | ||
| (67.0) | Equity dividends paid | (51.7) | (45.4) | |
| (89.5) | Net cash (outflow) inflow before management of liquid resources and financing | (206.6) | 25.9 | |
| Management of liquid resources | ||||
| 11.9 | Decrease in term deposits | 10.9 | 2.7 | |
| Financing | ||||
| 1.7 | Issue of ordinary shares | 0.6 | 0.2 | |
| (5.0) | Purchase and cancellation of own shares | (5.0) | ||
| (6.7) | Purchase of ESOP shares | (7.6) | ||
| 50.7 | Issue of Meadowhall Shopping Centre securitised debt | 50.7 | ||
| 84.0 | Issue of Sainsbury supermarkets securitised debt | |||
| (73.5) | Redemption of Broadgate Class D Unsecured Notes 2014 | (73.5) | ||
| 73.4 | Increase (decrease) in bank and other borrowings | 175.4 | (17.6) | |
| 124.6 | 168.4 | (45.2) | ||
