Year ended 31 July 2006
| Notes | 2006
£m |
2005
£m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Cash generated from operations | 34 | 850 | 765 |
| Interest received | 45 | 26 | |
| Interest paid | (102) | (57) | |
| Tax paid | (206) | (151) | |
| Net cash generated from operating activities | 587 | 583 | |
| Cash flows from investing activities | |||
| Acquisition of businesses (net of cash acquired) | 32 | (822) | (406) |
| Disposals of businesses (net of cash disposed of) | 33 | 2 | 5 |
| Purchases of property, plant and equipment | (326) | (218) | |
| Proceeds from sale of property, plant and equipment | 52 | 74 | |
| Purchases of intangible assets | (20) | (21) | |
| Purchases of investments | (23) | - | |
| Proceeds from disposal of investments | - | 1 | |
| Net cash used in investing activities | (1,137) | (565) | |
| Cash flows from financing activities | |||
| Proceeds from the issue of shares to shareholders | 31 | 33 | |
| Purchases of shares by Employee Benefit Trusts | (27) | (19) | |
| Proceeds from new borrowings | 2,486 | 410 | |
| Repayments of borrowings and derivatives | (1,405) | (234) | |
| Finance lease capital payments | (17) | (5) | |
| Dividends paid to shareholders | (162) | (145) | |
| Net cash generated from financing activities | 906 | 40 | |
| Net cash generated | 356 | 58 | |
| Effects of exchange rate changes | (8) | (26) | |
| Net increase/(decrease) in cash, cash equivalents and bank overdrafts | 348 | 32 | |
| Cash, cash equivalents and bank overdrafts at the beginning of the year | 35 | (56) | (88) |
| Cash, cash equivalents and bank overdrafts at the end of the year | 35 | 292 | (56) |
The accompanying notes are an integral part of these consolidated financial statements.
