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 Home >> Consolidated financial statements >> Group cash flow statement

Group cash flow statement
for the year ended 31 March 2003

spacer   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 )








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