BT 1997 Annual Report Download - page 39

Download and view the complete annual report

Please find page 39 of the 1997 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

39
Group cash flow statement
FOR THE YEAR ENDED 31 MARCH 1997
1997 1996
Notes £m £m
Net cash inflow from operating activities 86,192 5,834
Returns on investments and servicing of finance
Interest received 196 202
Interest paid, including finance costs (342) (332)
Premium paid on repurchase of bonds (60) –
Dividends paid to minorities (14) (20)
Net cash outflow for returns on investments and servicing of finance (220) (150)
Taxation
UK corporation tax paid (1,032) (738)
Overseas tax paid (13) (46)
Tax p a id (1,045) (784)
Capital expenditure and financial investment
Purchase of tangible fixed assets (2,823) (2,547)
Sale of tangible fixed assets 124 88
Purchase of fixed asset investments (172) (85)
Disposal of fixed asset investments 51 44
Net cash outflow for capital expenditure and financial investment (2,820) (2,500)
Acquisitions and disposals
Purchase of subsidiary undertakings, net of £2m (1996 – £1m) cash acquired (126) (26)
Purchase of associated undertakings (148) (122)
Sale of subsidiary undertakings 11 16
Sale of associated undertakings 11 –
Net cash outflow for acquisitions and disposals (252) (132)
Equity dividends paid (1,217) (1,138)
Cash inflow before use of liquid resources and financing 638 1,130
Management of liquid resources 9(504) (1,317)
Financing
Issue of ordinary share capital 160 130
Minority shares issued 51 59
New loans 235 177
Loan repayments (670) (151)
Net cash inflow (outflow) from financing (224) 215
Increase (decrease) in cash in the period (90) 28
Decrease in net debt in the period 10 849 1,319