 |
| |
|
|
|
|
|
|
|
|
6 months to
30 September
2003
(unaudited)
£m |
6 months to
30 September
2002
(unaudited)
£m |
12 months to
31 March
2003
(audited)
£m |
 |
| Operating activities |
|
|
|
|
|
|
Interest received and similar income arising from debt securities and
other fixed income securities held as financial fixed asset investments |
|
|
29 |
44 |
75 |
|
| Other interest received and similar income |
|
|
17 |
16 |
31 |
|
| Interest paid on borrowings |
|
|
(31) |
(54) |
(58) |
|
| Dividends received from equity shares |
|
|
45 |
47 |
102 |
|
| Fees and other net cash receipts |
|
|
20 |
31 |
46 |
|
| Operating and administrative costs paid
|
|
|
(51) |
(59) |
(68) |
|
| Net cash inflow from operating activities
|
|
|
29 |
25 |
128 |
|
| |
|
|
|
|
|
|
Taxation (paid)/received |
|
|
(2) |
3 |
4 |
|
| |
|
|
|
|
|
| Capital expenditure and financial investment |
|
|
|
|
|
|
| Investment in equity shares, fixed income shares and loans |
|
|
(194) |
(299) |
(673) |
|
| Investment in equity shares and loans acquired from joint ventures
|
|
|
– |
(10) |
(17) |
| |
| Sale, repayment or redemption of equity shares, fixed income shares and loan investments |
|
|
501 |
624 |
975 |
|
| Fees intrinsic to acquisition or disposal of investments
|
|
|
– |
– |
10 |
|
| Investment interest paid |
|
|
(23) |
(3) |
(53) |
|
| Investment administrative expenses |
|
|
(40) |
(23) |
(94) |
|
| Investment in joint ventures |
|
|
– |
(5) |
(54) |
|
| Divestment or repayment of interests in joint ventures
|
|
|
– |
10 |
19 |
|
| Purchase of tangible fixed assets |
|
|
(1) |
(3) |
(5) |
|
| Sale of tangible fixed assets |
|
|
1 |
– |
1 |
|
| Net cash flow from capital expenditure and financial investment |
|
|
244 |
291 |
109 |
|
| |
|
|
|
|
|
| Equity dividends paid |
|
|
(52) |
(49) |
(78) |
|
| |
|
|
|
|
|
| Management of liquid resources |
|
|
(162) |
(122) |
15 |
|
| |
|
|
|
|
|
| Net cash flow before financing |
|
|
57 |
148 |
178 |
|
| |
|
|
|
|
|
| Financing |
|
|
|
|
|
|
| Debt due within one year |
|
|
(283) |
(87) |
(104) |
|
| Debt due after more than one year |
|
|
265 |
(50) |
(32) |
|
| Issues of shares |
|
|
6 |
4 |
7 |
|
| Net cash flow from financing |
|
|
(12) |
(133) |
(129) |
|
| |
|
|
|
|
|
| Increase in cash |
|
|
45 |
15 |
49 |
|
| |
