Consolidated Income Statement
Consolidated Balance Sheet
For the year ended 30 April 2008
| Notes | 2008 £m |
2007 £m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Cash generated by operations | 32 | 260.0 | 158.0 |
| Interest paid | (45.6) | (25.9) | |
| Interest received | 21.4 | 22.0 | |
| Dividends received from joint ventures | 31.6 | 31.1 | |
| Net cash flows from operating activities | 267.4 | 185.2 | |
| Tax received/(paid) | 57.6 | (22.9) | |
| Net cash from operating activities after tax | 325.0 | 162.3 | |
| Cash flows from investing activities | |||
| Acquisition of subsidiaries, net of cash acquired | 17 | (7.3) | (0.1) |
| Disposals and closures of subsidiaries and other businesses, net of cash disposed of | 18 | 3.6 | 267.0 |
| Cash outflow in respect of inception of rail franchise | (0.5) | Nil | |
| Purchase of property, plant and equipment | (45.3) | (44.5) | |
| Disposal of property, plant and equipment | 32 | 9.2 | 11.0 |
| Purchase of intangible assets | (1.0) | (1.7) | |
| Purchase of other investments | (0.3) | (0.4) | |
| Disposal of other investments | Nil | 0.2 | |
| Movement in loans to joint ventures | (0.3) | 1.4 | |
| Net cash (outflow)/inflow from investing activities | (41.9) | 232.9 | |
| Cash flows from financing activities | |||
| Issue of ordinary shares for cash | 7.7 | 4.7 | |
| Return of value to shareholders | |||
| – Redemption and purchase of ‘B’ shares and ‘C’ shares | (397.0) | Nil | |
| – Dividends paid on ‘C’ shares | (284.6) | Nil | |
| – Costs associated with the return of value | (3.3) | Nil | |
| Investment in own ordinary shares by employee share ownership trusts | (8.4) | (2.1) | |
| Sale of own ordinary shares by employee share ownership trusts | 3.1 | 0.9 | |
| Repayments of hire purchase and lease finance | (33.1) | (28.2) | |
| Movement in other borrowings | 212.8 | (11.6) | |
| Dividends paid on ordinary shares | (30.0) | (41.5) | |
| Sale of tokens | 4.4 | 6.8 | |
| Redemption of tokens | (6.0) | (9.1) | |
| Net cash used in financing activities | (534.4) | (80.1) | |
| Net (decrease)/increase in cash and cash equivalents | (251.3) | 315.1 | |
| Cash and cash equivalents at the beginning of year | 512.5 | 198.3 | |
| Exchange rate effects | 0.4 | (0.9) | |
| Cash and cash equivalents at the end of year | 22 | 261.6 | 512.5 |
| Cash and cash equivalents at the end of year comprises: | |||
| Cash and cash equivalents included within current assets | 262.2 | 513.3 | |
| Bank overdrafts included within borrowings | (0.6) | (0.8) | |
| 261.6 | 512.5 | ||
Cash and cash equivalents for the purposes of the consolidated cash flow statement comprise cash at bank and in hand, overdrafts and other short term highly liquid investments with maturities of three months or less.
The accompanying notes form an integral part of this consolidated cash flow statement.
