Financial Data

Consolidated Statement of Cash Flows

For the year ended 31 December 1998

			note
Net cash inflow from operating activities	402	204	27
Dividends from partnerships and other associates	53	40
Interest received	52	35
Interest paid	(88)	(72)
Debt issue costs	(21)	–
Dividends paid to minority interests	(3)	(1)
Returns on investments and servicing of finance	(60)	(38)
Taxation	(80)	(75)
Purchase of tangible fixed assets	(125)	(110)
Sale of tangible fixed assets	14	22
Purchase of investments	(53)	(12)
Sale of investments	199	148
Capital expenditure and financial investment	35	48
Purchase of subsidiary undertakings	(2,936)	(269)
Net cash acquired with subsidiary undertakings	(2)	3
Purchase of associates	(13)	(67)
Sale of subsidiary undertakings	718	54
Net cash disposed with subsidiary undertakings	(17)	(1)
Sale of associates	77	46
Acquisitions and disposals	(2,173)	(234)	25/26
Equity dividends paid	(113)	(106)
Net cash outflow before management of liquid resources and financing	(1,936)	(161)
Disposal of asset backed securities	–	89
Liquid resources acquired	(1,261)	(123)
Liquid resources disposed	1,306	123
Management of liquid resources	45	89	27
Issue of equity share capital	344	27
Capital element of finance lease rentals	(1)	(1)
Unsecured bank loans repaid	(141)	–
Loan facility advanced	2,115	–
Loan stock repaid	–	(68)
Net movement in other borrowings	(280)	184
Financing	2,037	142
Increase in cash in the year	146	70	27