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| All figures in £ millions |
Notes |
2007 |
2006 |
| Cash flows from operating activities |
|
|
|
| Net (loss)/profit |
|
(43) |
78 |
| Adjustments for: |
|
|
|
| Income tax |
|
(67) |
(67) |
| Net finance costs |
|
183 |
63 |
| Other liabilities |
|
(1) |
16 |
| Amounts due from subsidiaries |
|
(499) |
(115) |
| Profit on sale of subsidiaries |
|
(32) |
– |
| Amount written down in investments in subsidiaries |
|
– |
20 |
| Net cash used in operations |
|
(459) |
(5) |
| Interest paid |
|
(247) |
(175) |
| Tax received |
|
99 |
55 |
| Net cash used in operating activities |
|
(607) |
(125) |
| Cash flows from investing activities |
|
|
|
| Acquisition of subsidiaries, net of cash acquired |
|
(46) |
(120) |
| Disposal of subsidiaries, net of cash disposed |
|
913 |
– |
| Interest received |
|
5 |
15 |
| Net cash generated/(used in) from investing activities |
|
872 |
(105) |
| Cash flows from financing activities |
|
|
|
| Proceeds from issue of ordinary shares |
7 |
12 |
11 |
| Net (investment in)/Group contribution to purchase of treasury shares |
|
(33) |
6 |
| Proceeds from borrowings |
|
347 |
- |
| Repayment of borrowings |
|
(391) |
(12) |
| Dividends paid to Company’s shareholders |
|
(238) |
(220) |
| Net cash used in financing activities |
|
(303) |
(215) |
| Effects of exchange rate changes on cash and cash equivalents |
|
1 |
(10) |
| Net decrease in cash and cash equivalents |
|
(37) |
(455) |
| Cash and cash equivalents at beginning of year |
|
(183) |
272 |
| Cash and cash equivalents at end of year |
4 |
(220) |
(183) |
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