BT 1998 Annual Report Download - page 49

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1998 1997 1996
Notes £m £m £m
))))))))))!!!!0111!!!01111110051111
Net cash inflow from operating activities 11 6,076 6,192 5,834
Returns on investments and servicing of finance
Interest received 168 196 202
Interest paid, including finance costs (328) (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 (160) (220) (150)
Taxation
UK corporation tax paid (1,625) (1,032) (738)
Windfall tax paid (255) – –
Overseas tax paid (6) (13) (46)
Tax paid (1,886) (1,045) (784)
Capital expenditure and financial investment
Purchase of tangible fixed assets (3,020) (2,823) (2,547)
Sale of tangible fixed assets 127 124 88
Purchase of fixed asset investments (265) (172) (85)
Disposal of fixed asset investments 50 51 44
Net cash outflow for capital expenditure and financial investment (3,108) (2,820) (2,500)
Acquisitions and disposals
Purchase of subsidiary undertakings, net of £6m (1997 – £2m, 1996 – £1m)
cash acquired (121) (126) (26)
Purchase of associated undertakings (1,380) (148) (122)
Sale of subsidiary undertakings –11 16
Sale of associated undertakings –11 –
Net cash outflow for acquisitions and disposals (1,501) (252) (132)
Equity dividends paid (3,473) (1,217) (1,138)
00000000001!!!0111!!!01111110051111
Cash inflow (outflow) before management of liquid resources and financing (4,052) 638 1,130
Management of liquid resources 12 2,247 (504) (1,317)
Financing
Issue of ordinary share capital 144 160 130
Minority shares issued 48 51 59
New loans 1,637 35 175
Loan repayments (338) (670) (133)
Net increase (decrease) in short-term borrowings 303 200 (16)
Net cash inflow (outflow) from financing 1,794 (224) 215
00000000001!!!0111!!!01111110051111
Increase (decrease) in cash in the year (11) (90) 28
00000000001!!!0111!!!01111110051111
Decrease (increase) in net debt in the year 13 (3,860) 849 1,319
00000000001!!!0111!!!01111110051111
Group cash flow statement
FO R T H E Y E AR E NDED 3 1 M A R C H 1 9 9 8