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Consolidated Cash Flow Statement
year ended 31 December 2004
| All figures in £ millions | Note | 2004 | 2003 restated |
|---|---|---|---|
| Net cash inflow from operating activities | 27 | 530 | 359 |
| Dividends from joint ventures and associates | 10 | 9 | |
| Interest received | 13 | 11 | |
| Interest paid | (97) | (86) | |
| Debt issue costs | (1) | (1) | |
| Dividends paid to equity minority interests | (2) | (19) | |
| Returns on investments and servicing of finance | (87) | (95) | |
| Taxation | (45) | (44) | |
| Purchase of tangible fixed assets | (125) | (105) | |
| Sale of tangible fixed assets | 4 | 8 | |
| Purchase of investments | (1) | (3) | |
| Sale of investments | 17 | - | |
| Capital expenditure and financial investment | (105) | (100) | |
| Purchase of subsidiaries | 25 | (35) | (94) |
| Net cash acquired with subsidiaries | - | 34 | |
| Purchase of joint ventures and associates | (10) | (5) | |
| Sale of subsidiaries | 26 | - | (4) |
| Net overdrafts disposed with subsidiaries | 1 | 1 | |
| Sale of associates | 24 | 57 | |
| Acquisitions and disposals | (20) | (11) | |
| Equity dividends paid | (195) | (188) | |
| Net cash inflow/(outflow) before management of liquid resources and financing | 88 | (70) | |
| Management of liquid resources | 1 | (85) | |
| Issue of equity share capital | 4 | 5 | |
| Purchase of own shares | (10) | (1) | |
| Capital element of finance leases | (2) | (3) | |
| Loan facility (repaid)/advanced | (42) | 1 | |
| Bonds advanced | 414 | 180 | |
| Bonds repaid | (456) | (159) | |
| Collateral deposit (placed)/reimbursed | (26) | 54 | |
| Net movement in other borrowings | 59 | (13) | |
| Financing | (59) | 64 | |
| Increase/(decrease) in cash in the year | 27 | 30 | (91) |