Cash
The Group cash flow statement is shown on Group cash flow statement of the financial statements.

Net debt for the year reduced by £4 million, following a significant cash inflow in the second half of the year, as net working capital reduced. Year end net debt was £690 million (1999 £694 million). The company attaches greater significance to the average net debt level, which reduced, as expected, on a comparable basis from £390 million to £335 million. After taking into account the impact of acquisitions, average net debt was £1,323 million (1999 £573 million).

The level of average net debt is expected to continue to reduce in the future.

Net cash flow from operating activities was £479 million (1999 £359 million). Major uses of funds were capital expenditure and investments in financial services businesses.

Provisions for liabilities and charges increased by £98 million, largely as a result of the £120 million industrial Trent provision.