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 |
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For the year ended
31 March 2002 |
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2002 |
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2001 |
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| |
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Continuing |
|
Discontinued |
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Continuing |
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Discontinued |
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| |
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Operations |
|
Operations |
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Total |
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Operations |
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Operations |
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Total |
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| |
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Note |
£m |
|
£m |
|
£m |
|
£m |
|
£m |
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|
£m |
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| |
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Reconciliation of
operating profit to net cash |
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inflow from operating
activities |
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| |
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Operating profit |
|
96.7 |
|
– |
|
96.7 |
|
|
119.3 |
|
– |
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|
119.3 |
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Amortisation of goodwill |
|
12.0 |
|
– |
|
12.0 |
|
|
11.6 |
|
– |
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11.6 |
|
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| |
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Depreciation and
other amortisation |
|
19.5 |
|
– |
|
19.5 |
|
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21.4 |
|
0.4 |
|
|
21.8 |
|
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| |
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Decrease (increase)
in stocks |
|
29.0 |
|
0.5 |
|
29.5 |
|
|
(8.6 |
) |
9.2 |
|
|
0.6 |
|
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Decrease (increase)
in debtors |
|
18.5 |
|
4.4 |
|
22.9 |
|
|
(4.5 |
) |
3.1 |
|
|
(1.4 |
) |
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| |
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Decrease in creditors |
|
(19.0 |
) |
(2.3 |
) |
(21.3 |
) |
|
(1.2 |
) |
(7.8 |
) |
|
(9.0 |
) |
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| |
|
|
|
156.7 |
|
2.6 |
|
159.3 |
|
|
138.0 |
|
4.9 |
|
|
142.9 |
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| |
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Cashflow in respect
of prior year closures |
|
– |
|
– |
|
– |
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|
– |
|
(0.7 |
) |
|
(0.7 |
) |
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| |
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Net cash inflow
from operating activities |
|
156.7 |
|
2.6 |
|
159.3 |
|
|
138.0 |
|
4.2 |
|
|
142.2 |
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CASH FLOW STATEMENT |
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Net cash inflow
from operating activities |
|
156.7 |
|
2.6 |
|
159.3 |
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|
138.0 |
|
4.2 |
|
|
142.2 |
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|
Returns on investments
and servicing of finance |
35 |
(3.7 |
) |
– |
|
(3.7 |
) |
|
(6.7 |
) |
– |
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|
(6.7 |
) |
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| |
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Taxation |
|
(35.2 |
) |
2.3 |
|
(32.9 |
) |
|
(32.6 |
) |
– |
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|
(32.6 |
) |
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| |
|
Capital expenditure
and financial investment |
35 |
(41.5 |
) |
0.4 |
|
(41.1 |
) |
|
(24.3 |
) |
– |
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|
(24.3 |
) |
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| |
|
Free cash flow |
|
76.3 |
|
5.3 |
|
81.6 |
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|
74.4 |
|
4.2 |
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|
78.6 |
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| |
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Acquisitions |
19 |
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|
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|
(0.8 |
) |
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|
– |
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| |
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Equity dividends
paid |
10 |
|
|
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|
(62.7 |
) |
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(54.3 |
) |
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| |
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Cash inflow before
use of liquid |
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resources and financing |
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18.1 |
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24.3 |
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Management of liquid
resources |
35 |
|
|
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|
(9.6 |
) |
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18.2 |
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| |
|
Financing |
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| |
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Shares |
35 |
|
|
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|
3.0 |
|
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|
3.8 |
|
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| |
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Loans |
35 |
|
|
|
|
(18.4 |
) |
|
|
|
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|
|
(46.6 |
) |
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| |
|
Decrease in cash
in the year |
|
|
|
|
|
(6.9 |
) |
|
|
|
|
|
|
(0.3 |
) |
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| |
|
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|
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|
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| |
|
Reconciliation of
net cash flow to movement in net debt |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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| |
|
Decrease in cash |
|
|
|
|
|
(6.9 |
) |
|
|
|
|
|
|
(0.3 |
) |
|
| |
|
Management of liquid
resources |
|
|
|
|
|
9.6 |
|
|
|
|
|
|
|
(18.2 |
) |
|
| |
|
Financing – loans |
|
|
|
|
|
18.4 |
|
|
|
|
|
|
|
46.6 |
|
|
|
| |
|
Change in net debt
relating to cash flows |
|
|
|
|
|
21.1 |
|
|
|
|
|
|
|
28.1 |
|
|
| |
|
Translation differences |
|
|
|
|
|
1.4 |
|
|
|
|
|
|
|
(7.8 |
) |
|
|
| |
|
Decrease in net
debt for the year |
|
|
|
|
|
22.5 |
|
|
|
|
|
|
|
20.3 |
|
|
| |
|
Net debt at the
begining of the year |
|
|
|
|
|
(75.5 |
) |
|
|
|
|
|
|
(95.8 |
) |
|
|
| |
|
Net debt at the
end of the year |
36 |
|
|
|
|
(53.0 |
) |
|
|
|
|
|
|
(75.5 |
) |
|
|
| |
|
The attached notes
form part of these accounts. |
|
|
