Consolidated statement of cash flows

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Year to 31 March

 

Notes

2010
£m

2009
£m

Cash flows from operating activities

 

 

 

(Loss)/profit before tax from continuing operations

 

(61)

113

Adjustments for:

 

 

 

Depreciation of property, plant and equipment

6

116

112

Exceptional items

7

276

119

Amortisation of intangible assets

6

20

20

Share-based payments

9

5

5

Finance income

10

(5)

(10)

Finance expense

10

74

61

Change in working capital

32

291

31

Cash generated from continuing operations

 

716

451

Interest paid

 

(62)

(73)

Income tax paid

 

(38)

(17)

Cash (used in)/generated from discontinued operations

12

(29)

140

Net cash generated from operating activities

 

587

501

 

 

 

 

Cash flows from investing activities

 

 

 

Proceeds on disposal of property, plant and equipment

 

5

Purchase of available-for-sale financial assets

18

(3)

(6)

Proceeds on disposal of available-for-sale financial assets

 

9

Interest received

 

3

17

Acquisitions of subsidiaries, net of cash and cash equivalents acquired

37

(21)

(1)

Disposal of subsidiaries, net of cash and cash equivalents disposed

37

(4)

Disposal of businesses

37

(26)

57

Purchase of property, plant and equipment

 

(79)

(224)

Purchase of other intangible assets

 

(5)

(7)

Net cash used in investing activities

 

(131)

(154)

 

 

 

 

Cash flows from financing activities

 

 

 

Proceeds from issuance of ordinary shares

 

2

3

Purchase of ordinary shares

 

(6)

-

Cash inflow from additional borrowings

 

198

1

Cash outflow from repayment of borrowings

 

(462)

(14)

Cash outflow from repayment of capital element of finance leases

 

(3)

(3)

Dividends paid to the Company’s equity holders

14

(103)

(104)

Dividends paid to minority interests

 

(2)

(1)

Net cash used in financing activities

 

(376)

(118)

 

 

 

 

Net increase in cash and cash equivalents

34

80

229

 

 

 

 

Cash and cash equivalents

 

 

 

Balance at beginning of year

 

434

165

Effect of changes in foreign exchange rates

 

(10)

40

Net increase in cash and cash equivalents

 

80

229

Balance at end of year

33

504

434

The notes form part of these Group financial statements.