Consolidated Cash Flow Statement
For the year ended 31 December 2007
|
|
Notes |
2007
£m |
2006
£m |
| Cash flows from operating activities |
|
|
|
| Cash generated from operations |
26
|
299 |
117 |
| Interest received |
|
16 |
25 |
| Interest paid |
|
(60) |
(58) |
| Tax paid |
|
(28) |
(31) |
| Dividends received from joint ventures |
|
13 |
7 |
|
|
|
240 |
60 |
| Cash flows from investing activities |
|
|
|
| Purchase of property, plant and equipment and intangible assets |
|
(192) |
(230) |
| Proceeds from sale of property, plant and equipment |
|
21 |
13 |
| Acquisition of subsidiaries (net of cash acquired) |
|
(71) |
(126) |
| Proceeds from sale of subsidiaries and businesses (net of cash disposed) |
|
— |
13 |
| Investment loans and capital contributions |
|
7 |
1 |
|
|
|
(235) |
(329) |
| Cash flows from financing activities |
|
|
|
| Net proceeds from issue of ordinary share capital |
23
|
5 |
3 |
| Purchase of treasury shares |
23
|
— |
(40) |
| Net proceeds from borrowing facilities |
|
13 |
48 |
| Finance lease payments |
|
(1) |
(1) |
| Repayment of borrowings |
|
(17) |
(14) |
| Dividends paid to shareholders |
7
|
(91) |
(88) |
| Dividends paid to minority interests |
|
(1) |
(1) |
|
|
|
(92) |
(93) |
| Currency variations on cash and cash equivalents |
|
9 |
(7) |
| Movement in cash and cash equivalents |
|
(78) |
(369) |
| Cash and cash equivalents at 1 January |
|
328 |
697 |
| Cash and cash equivalents at 31 December |
26
|
250 |
328 |
All cash flows arise from continuing operations. Cash inflows from government capital grants of £nil (2006 – £3 million) have been offset against purchases of property, plant and equipment and intangible assets.
For the purposes of presenting the cash flow statement the components of cash and cash equivalents are offset. A reconciliation between the cash flow statement and balance sheet presentation is shown in note 26.