|
 |
|
|
2003 |
|
2002 |
|
2001 |
|
|
Notes |
|
£m |
|
£m |
|
£m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
cash inflow from operating activities |
16 |
|
6,023 |
|
5,257 |
|
5,887 |
|
| Dividends
from associates and joint ventures |
|
|
6 |
|
2 |
|
10 |
|
| Returns
on investments and servicing of finance |
|
|
|
|
|
|
|
|
| Interest
received |
|
|
231 |
|
309 |
|
293 |
|
| Interest
paid, including finance costs |
|
|
(1,737 |
) |
(2,004 |
) |
(1,020 |
) |
| Net
cash outflow for returns on investments and servicing
of finance |
|
|
(1,506 |
) |
(1,695 |
) |
(727 |
) |
|
|
|
|
|
|
|
|
|
| Taxation |
|
|
|
|
|
|
|
|
| UK
corporation tax paid |
|
|
(425 |
) |
(557 |
) |
(669 |
) |
| Non-UK
tax paid |
|
|
(9 |
) |
(5 |
) |
– |
|
| Taxation
paid |
|
|
(434 |
) |
(562 |
) |
(669 |
) |
|
|
|
|
|
|
|
|
|
| Capital
expenditure and financial investment |
|
|
|
|
|
|
|
|
| Purchase
of intangible fixed assets |
|
|
– |
|
– |
|
(4,208 |
) |
| Purchase
of tangible fixed assets |
|
|
(2,580 |
) |
(4,069 |
) |
(4,756 |
) |
| Sale
of tangible fixed assets |
|
|
94 |
|
2,645 |
|
440 |
|
| Purchase
of fixed asset investments |
|
|
(1 |
) |
(37 |
) |
(93 |
) |
| Disposal
of fixed asset investments |
|
|
106 |
|
107 |
|
175 |
|
| Net
cash outflow for capital expenditure and financial
investment |
|
|
(2,381 |
) |
(1,354 |
) |
(8,442 |
) |
|
|
|
|
|
|
|
|
|
| Free
cash flow before acquisitions, disposals
and dividends |
|
|
1,708 |
|
1,648 |
|
(3,941 |
) |
|
|
| Acquisitions
and disposals |
|
|
|
|
|
|
|
|
| Purchase
of subsidiary undertakings, net of £13m cash
acquired |
|
|
|
|
|
|
|
|
| (2002
– £nil, 2001 – £101m) |
|
|
56 |
|
(896 |
) |
(11,215 |
) |
| Investments
in joint ventures |
|
|
(133 |
) |
(235 |
) |
(3,214 |
) |
| Investments
in associates |
|
|
– |
|
– |
|
(72 |
) |
| Disposal
of subsidiary undertakings, net of £nil cash
disposed |
|
|
|
|
|
|
|
|
| (2002
– £28m, 2001 – £nil) |
|
|
3 |
|
1,959 |
|
245 |
|
| Sale
of investments in joint ventures and associates |
|
|
2,916 |
|
4,957 |
|
502 |
|
| Net
cash inflow (outflow) for acquisitions and disposals |
|
|
2,842 |
|
5,785 |
|
(13,754 |
) |
| |
|
|
|
|
|
|
|
|
| Equity
dividends paid |
|
|
(367 |
) |
– |
|
(1,432 |
) |
|
|
|
|
|
|
|
|
|
| Cash
inflow (outflow) before management of liquid resources
and financing |
|
|
4,183 |
|
7,433 |
|
(19,127 |
) |
| Management
of liquid resources |
17 |
|
(1,729 |
) |
(1,864 |
) |
(480 |
) |
| Financing |
|
|
|
|
|
|
|
|
| Issue
of ordinary share capital |
|
|
42 |
|
6,057 |
|
149 |
|
| Issue
of shares to minorities |
|
|
– |
|
– |
|
36 |
|
| Inflow
on demerger of mmO2 |
19 |
|
– |
|
440 |
|
– |
|
| New
loans |
|
|
20 |
|
30 |
|
14,552 |
|
| Repayment
of loans |
|
|
(2,471 |
) |
(1,851 |
) |
(225 |
) |
| Net
(decrease) increase in short-term borrowings |
|
|
(64 |
) |
(10,155 |
) |
5,223 |
|
| Net
cash (outflow) inflow from financing |
|
|
(2,473 |
) |
(5,479 |
) |
19,735 |
|
|
|
|
|
|
|
|
|
|
| (Decrease)
increase in cash in the year |
|
|
(19 |
) |
90 |
|
128 |
|
|
|
|
|
|
|
|
|
|
| Decrease
(increase) in net debt in the year |
19 |
|
4,225 |
|
13,930 |
|
(18,942 |
) |
|
|
|
|
|
|
|
|
|
|
