| |
Notes |
2005
£m |
2004
£m |
| Net cash from operating activities |
35 |
1,090 |
956 |
Investing activities |
|
|
|
| Interest paid |
|
(230) |
(239) |
| Interest received |
|
31 |
28 |
| Dividends received from associates |
17 |
11 |
8 |
| Proceeds on disposal of property, plant and equipment |
|
37 |
26 |
| Purchases of property, plant and equipment |
|
(298) |
(285) |
| Acquisitions of businesses |
31 |
(38) |
(59) |
| Acquisitions of associates |
17 |
(33) |
(3) |
| Net cash assumed on acquisitions |
|
1 |
1 |
| Sale of investments, associates and subsidiary undertakings |
|
41 |
11 |
| Acquisitions and disposals |
|
(29) |
(50) |
| Net change in equity investments and money market deposits |
|
(29) |
106 |
Net cash used in investing activities
|
|
(507) |
(406) |
| Net cash flow before financing activities |
|
583 |
550 |
Financing activities |
|
|
|
| Dividends paid |
|
(261) |
(246) |
| Dividends paid to minority interests |
|
(7) |
(19) |
| Proceeds of finance leases |
|
1 |
93 |
| Capital element of finance leases repaid |
|
(21) |
(24) |
| Proceeds on issues of ordinary shares |
|
37 |
25 |
| Net movement of shares held under Employee Trust |
|
71 |
29 |
| Proceeds of new borrowings |
|
350 |
610 |
| Borrowings repaid |
|
(543) |
(1,007) |
| Repayment of non-equity minority interest |
|
(219) |
– |
| Net cash used in financing activities |
|
(592) |
(539) |
Net (decrease)/increase in cash and cash equivalents |
|
(9) |
11 |
| Opening net cash and cash equivalents |
|
284 |
275 |
| Effect of foreign exchange rates |
|
4 |
(2) |
| Less: Net cash and cash equivalents included in discontinued operations |
32 |
(3) |
– |
| Closing net cash and cash equivalents |
|
276 |
284 |
Net cash and cash equivalents includes overdraft balances of £56 million (2004: £41 million).
|
