Consolidated Cash Flow Statement
for the six months ended 30 September 2005
| Year ended† 31 March 2005 £m |
|
Note |
2005 Unaudited £m |
2004 Unaudited £m |
|---|---|---|---|---|
| 480 | Cash generated from operations | 20 | 242 | 230 |
| (351) | Interest paid | (180) | (161) | |
| 10 | Interest received | 6 | 3 | |
| (10) | UK Corporation tax paid | (4) | (5) | |
| (4) | Foreign tax paid | (2) | (2) | |
| 125 | Net cash inflow from operating activities | 62 | 65 | |
| Cash flows from investing activities | ||||
| (509) | Purchase of investment properties and development expenditure | (105) | (136) | |
| (98) | Purchase of investments | (97) | ||
| 81 | Sale of investment properties | 332 | 16 | |
| 4 | Sale of investments | |||
| (23) | Investment in and loans to funds and joint ventures | (3) | (3) | |
| 55 | Amounts repaid by funds and joint ventures | 240 | ||
| (36) | Purchase of subsidiary companies (net of cash acquired) | (815) | ||
| (526) | Net cash outflow from investing activities | (351) | (220) | |
| Cash flows from financing activities | ||||
| 1 | Issue of ordinary shares | 3 | 1 | |
| (11) | Purchase of ESOP shares | (9) | (8) | |
| (77) | Dividends paid | (57) | (52) | |
| 2,081 | Issue of Broadgate Estate securitised debt | |||
| (1,439) | Redemption of Broadgate Funding PLC securitised debt | |||
| (138) | Redemption of 135 Bishopsgate Financing Ltd securitised debt | |||
| (649) | Repayment of debt acquired with subsidiary companies | (403) | ||
| 614 | Increase in bank and other borrowings | 752 | 176 | |
| 382 | Net cash inflow from financing activities | 286 | 117 | |
| (19) | Net decrease in cash and cash equivalents | (3) | (38) | |
| 166 | Cash and cash equivalents at 1 April 2005 | 147 | 166 | |
| 147 | Cash and cash equivalents at 30 September 2005 | 144 | 128 | |
| Cash and cash equivalents consists of | ||||
| 151 | Cash and short-term deposits | 144 | 128 | |
| (4) | Overdrafts | |||
| 147 | 144 | 128 | ||
- † Unaudited, restated under IFRS
