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- Consolidated Cash Flow Statement
Consolidated Cash Flow Statement
for the year ended 31 March 2005
Note |
2005 £m |
2004 £m |
||
|---|---|---|---|---|
| Net cash inflow from operating activities | 23 | 462.2 | 381.4 | |
| Dividends received from joint ventures | 15.8 | 79.7 | ||
| Returns on investments and servicing of finance | ||||
| Interest received | 9.8 | 12.9 | ||
| Interest paid | (349.0) | (301.5) | ||
| Dividends received | 0.2 | |||
| (339.2) | (288.4) | |||
| Taxation | ||||
| UK corporation tax paid | (10.0) | (4.1) | ||
| Foreign tax paid | (3.6) | (5.5) | ||
| (13.6) | (9.6) | |||
| Net cash inflow from operating activities and investments | ||||
| after finance charges and taxation | 125.2 | 163.1 | ||
| Capital expenditure and financial investment | ||||
| Purchase of investment properties and development expenditure | (508.9) | (316.9) | ||
| Purchase of investments | (97.9) | (10.8) | ||
| Sale of investment properties | 81.3 | 171.3 | ||
| Sale of investments | 3.7 | 20.8 | ||
| (521.8) | (135.6) | |||
| Acquisitions and disposals | ||||
| Purchase of subsidiary companies* | (41.0) | (110.2) | ||
| Cash at bank acquired with interest in subsidiary companies | 4.9 | 5.8 | ||
| Investment in and loans to joint ventures | (23.4) | (34.8) | ||
| Sale of shares in and loans repaid by joint ventures | 54.8 | 89.2 | ||
| (4.7) | (50.0) | |||
| Equity dividends paid | (76.6) | (67.0) | ||
| Net cash outflow before management of liquid resources and financing | (477.9) |
(89.5) |
||
| Management of liquid resources | ||||
| (Increase) decrease in term deposits | (18.6) | 11.9 | ||
| Financing | ||||
| Issue of ordinary shares | 1.2 | 1.7 | ||
| Purchase and cancellation of own shares | (5.0) | |||
| Purchase of ESOP shares | (10.9) | (6.7) | ||
| Issue of Broadgate Estate securitised debt | 2,080.7 | |||
| Redemption of Broadgate Funding PLC securitised debt | (1,439.7) | |||
| Redemption of 135 Bishopsgate Financing Ltd securitised debt | (138.4) | |||
| Repayment of debt acquired with subsidiary companies* | (648.6) | |||
| Issue of Meadowhall Shopping Centre securitised debt | 50.7 | |||
| Issue of Sainsbury supermarkets securitised debt | 84.0 | |||
| Redemption of Broadgate Class D Unsecured Notes 2014 | (73.5) | |||
| Increase in bank and other borrowings | 614.3 | 73.4 | ||
| 458.6 | 124.6 | |||
| (Decrease) increase in cash | 23 | (37.9) | 47.0 |
* Properties of £702.2m acquired
through corporate structures.