BT 2006 Annual Report Download - page 77

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Notes
2006
£m
2005
£m
Cash flow from operating activities
Profit before taxation 2,040 2,354
Depreciation and amortisation 2,884 2,844
Profit on sale of non current asset investments –(358)
Net finance expense 472 599
Other non cash charges 88 2
Share of (profits) losses of associates and joint ventures (16) 39
Increase in inventories (13) (12)
(Increase) decrease in trade and other receivables (41) 206
Increase in trade and other payables 174 59
Increase in provisions and other liabilities 189 173
Cash generated from operations 5,777 5,906
Income taxes paid (390) (332)
Net cash inflow from operating activities 5,387 5,574
Cash flow from investing activities
Interest received 185 374
Dividends received 12
Proceeds on disposal of property, plant and equipment 66 111
Proceeds on disposal of associates and joint ventures –35
Proceeds on disposal of non current financial assets 1539
Proceeds on disposal of current financial assets 5,964 3,754
Acquisition of subsidiaries, net of cash acquired 12 (165) (426)
Purchases of property, plant and equipment and computer software (2,940) (3,056)
Investment in associates and joint ventures (2) (27)
Purchases of non current financial assets (2) (2)
Purchases of current financial assets (2,743) (3,044)
Net cash inflow (outflow) from investing activities 365 (1,740)
Cash flow from financing activities
Equity dividends paid (907) (784)
Interest paid (1,086) (1,260)
Repayments of borrowings and derivatives (4,148) (1,022)
Repayment of finance lease liabilities (284) (275)
New bank loans raised 1,022 5
Net proceeds on issue of commercial paper 464 –
Repurchase of ordinary shares (348) (195)
Net proceeds on issue of treasury shares 92
Net cash used in financing activities (5,278) (3,529)
Net increase in cash and cash equivalents 474 305
Cash and cash equivalents at the start of the year 1,310 1,005
Cash and cash equivalents at the end of the year 91,784 1,310
GROUP CASH FLOW STATEMENT
For the year ended 31 March 2006
Group cash flow statement BT Group plc Annual Report and Form 20-F 2006 75