link to bt.com
Download pdf | Print page | Contact us | Return to BTplc.com
Annual Report > Report of the directors > Financial review > Capital resources

CAPITAL RESOURCES


During the period under review the group has increased its level of net debt to £7.9 billion at 31 March 2007 compared with £7.5 billion at 31 March 2006 and £7.9 billion at 31 March 2005 (based on BT’s definition of net debt as set out in note 10).

      The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future and therefore they continue to adopt the going concern basis in preparing the financial statements.
     There has been no significant change in the financial or trading position of the group since 31 March 2007.
     The following table sets out the group’s contractual obligations and commitments as they fall due for payment, as at 31 March 2007.
 

    Payments due by period   













Contractual obligations and commitments
    Total
£m
    Less
than 1
year
£m
    1-3
years
£m
    3-5
years
£m
    More
than 5
years
£m
 

 
Loans and other borrowings
    8,022     1,900     637     2,239     3,246  
Finance lease obligations
    567     303     33     23     208  
Operating lease obligations
    9,557     479     882     829     7,367  
Pension deficiency obligations
    2,280     320     280     560     1,120  
Capital commitments
    779     616     118     29     16  

 
Total
    21,205     3,618     1,950     3,680     11,957  

 

At 31 March 2007, the group had cash, cash equivalents and current asset investments of £1,078 million. At that date, £2,071 million of debt fell due for repayment in the 2008 financial year. The group had unused short-term bank facilities, amounting to approximately £3,535 million at 31 March 2007. These resources will allow the group to settle its obligations as they fall due.
 

<< Previous   back to top   Next >>
 

 
BT Group plc 2006       Privacy policy