NATIONAL EXPRESS GROUP PLC
GROUP STATEMENT OF CASH FLOWS
For the year ended 31 December 2000

Note      

2000

1999

£m

£m
   

Net cash inflow from operating activities                         

167.5

95.1
   

Interest received

3.1

6.2

Interest paid

(20.7)

(10.1)
Interest element of finance lease rentals
(1.6)
(0.8)

Return on investments and servicing of finance

(19.2)

(4.7)

UK corporation tax paid

(24.8)

(13.7)

Overseas tax paid

(1.8)

(2.2)
   

Taxation

(26.6)

(15.9)
   

Payments to acquire tangible assets

(89.3)

(97.9)

Receipts from sales of tangible assets

3.6

7.5
Purchase of shares to satisfy employee share scheme
(1.6)
(7.8)

Payments to acquire other investments

(13.1)

(7.5)

Receipts from the sale of investments

-

0.1
   

Capital expenditure and financial investment

(100.4)

(105.6)
   

Payments to acquire subsidiary undertakings

(283.0)

(264.9)

Cash acquired in companies purchased

52.6

8.7

Deferred consideration for business acquired

-

(3.4)
   

Acquisitions

(230.4)

(259.6)

Equity dividends paid

(22.0)

(19.4)
Cash outflow before financing activities
(231.1)
(310.1)
Management of liquid resources    

Cash withdrawn from short term deposits

19.4

3.9
   
Financing    

Issue of share capital

4.9

1.3

Repayment of capital element of finance lease rentals

(4.4)

(4.9)

Repayment of loan notes

-

(9.9)

Movements on bank deposits relating to loan notes

3.1

(0.5)

Loans advanced

187.5

373.3

Loans repaid

-

(45.9)

Net cash inflow from financing

191.1

313.4
   

(Decrease)/increase in net cash

(20.6)

7.2