| |
Notes |
First Half
2004
£ million |
First Half
2003
£ million |
Full Year
2003
£ million |
| |
|
|
| NET CASH OUTFLOW FROM OPERATING ACTIVITIES |
15 |
(63.3) |
(52.4) |
(102.1) |
| DIVIDENDS RECEIVED FROM JOINT VENTURES AND ASSOCIATES |
|
4.3 |
0.9 |
7.7 |
| RETURNS ON INVESTMENTS AND SERVICING OF FINANCE |
|
|
|
|
 Interest received |
|
6.6 |
6.7 |
9.1 |
| Interest and other financing costs paid |
|
(13.8) |
(14.3) |
(29.4) |
| Dividends received |
|
- |
0.4 |
0.5 |
| Dividends paid to non-equity shareholders |
|
(1.3) |
(1.3) |
(2.5) |
| |
|
|
| NET CASH OUTFLOW FROM RETURNS ON INVESTMENTS AND SERVICING OF FINANCE |
|
(8.5) |
(8.5) |
(22.3) |
| TAXATION |
|
0.1 |
(3.3) |
(2.3) |
| UK corporation tax received/(paid) |
|
0.6 |
(1.2) |
(0.1) |
| Overseas tax paid |
|
(0.5) |
(2.1) |
(2.2) |
| CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT |
|
|
|
|
| Purchase of fixed assets |
|
(0.1) |
(0.5) |
(2.0) |
| Construction of infrastructure assets |
|
(3.8) |
(5.1) |
(13.9) |
| Sale of fixed assets |
|
- |
0.1 |
0.3 |
| Purchase of short-term investment |
11 |
(19.7) |
- |
- |
| Sale of investments |
|
9.0 |
- |
12.8 |
| |
|
|
| NET CASH OUTFLOW FROM CAPITAL EXPENDITURE AND FINANCIAL INVESTMENTS |
|
(14.6) |
(5.5) |
(2.8) |
| ACQUISITIONS AND DISPOSALS |
|
|
|
|
| Purchase of subsidiary undertakings |
|
- |
(31.1) |
(32.8) |
| Net overdraft balance acquired with subsidiaries |
|
- |
(15.4) |
(20.7) |
| Purchase of interests in and loans to joint ventures and associated undertakings |
|
(3.5) |
(0.8) |
(5.4) |
| Sale of subsidiary undertakings |
|
- |
153.4 |
220.0 |
| Net overdraft balance disposed with subsidiaries |
|
- |
- |
27.8 |
| Sale of interests in and repayment of loans by joint ventures and associated undertakings |
|
1.7 |
7.9 |
49.3 |
| |
|
|
| NET CASH (OUTFLOW)/INFLOW FROM ACQUISITIONS AND DISPOSALS |
|
(1.8) |
114.0 |
238.2 |
| EQUITY DIVIDENDS PAID |
|
(3.6) |
- |
(10.2) |
| |
|
|
| NET CASH (OUTFLOW)/INFLOW BEFORE USE OF LIQUID RESOURCES AND FINANCING |
|
(87.4) |
45.2 |
106.2 |
| MANAGEMENT OF LIQUID RESOURCES |
|
|
|
|
| Net cash (withdrawn)/deposited – bank deposits |
|
(15.3) |
27.9 |
- |
| |
|
|
| NET CASH (OUTFLOW)/INFLOW FROM MANAGEMENT OF LIQUID RESOURCES |
|
(15.3) |
27.9 |
- |
| FINANCING |
|
|
|
|
| Issue of ordinary share capital – exercise of warrants |
|
4.7 |
- |
- |
| Increase/(decrease) in bank borrowings falling due within one year |
|
8.5 |
(131.8) |
(192.3) |
| Increase in bank borrowings falling due after more than one year |
|
76.7 |
67.3 |
118.9 |
| |
|
|
| NET CASH INFLOW/(OUTFLOW) FROM FINANCING |
|
89.9 |
(64.5) |
(73.4) |
| |
|
|
| (DECREASE)/INCREASE IN CASH IN THE PERIOD |
|
(12.8) |
8.6 |
32.8 |
| |
|
|
