Marks and Spencer 2002 Annual Report Download - page 30

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28 Marks and Spencer Group p.l.c.
Consolidated cash flow information
FOR THE PERIOD ENDED 30 MARCH 2002
52 weeks 52 weeks
ended ended
30 March 31 March
2002 2001
Cash flow statement Notes £m £m
Cash inflow from operating activities 27 1,093.7 676.4
Returns on investments and servicing of finance
Interest received 38.8 13.1
Interest paid (2.0) –
Dividends paid to minorities –(0.5)
Net cash inflow from returns on investments and servicing of finance 36.8 12.6
Taxation
UK corporation tax paid (172.0) (164.5)
Overseas tax paid (7.4) (0.1)
Cash outflow for taxation (179.4) (164.6)
Capital expenditure and financial investment
Purchase of tangible fixed assets (285.7) (269.8)
Sale of tangible fixed assets 455.6 18.9
Purchase of fixed asset investments (2.9) (18.0)
Sale of fixed asset investments 9.0 10.7
Net cash inflow/(outflow) for capital expenditure and financial investment 176.0 (258.2)
Acquisitions and disposals 29
Closure of operations 122.2 (0.9)
Sale of subsidiaries 139.4 (0.8)
Repayment of loan by joint venture –7.6
Cash inflow from acquisitions and disposals 261.6 5.9
Equity dividends paid (256.7) (258.6)
Cash inflow before management of liquid resources and financing 1,132.0 13.5
Management of liquid resources and financing
Management of liquid resources 28B (29.1) 263.7
Financing 28C (730.2) (265.4)
(759.3) (1.7)
Increase in cash 372.7 11.8
2002 2001
Reconciliation of net cash flow to movement in net debt 30 £m £m
Increase in cash 372.7 11.8
Cash outflow/(inflow) from increase/(decrease) in liquid resources 28B 29.1 (263.7)
Cash (inflow)/outflow from (increase)/decrease in debt financing 28C (1,031.7) 245.9
Exchange movements 0.7 (20.4)
Movement in net debt (629.2) (26.4)
Opening net debt (1,277.8) (1,251.4)
Closing net debt (1,907.0) (1,277.8)