Marks and Spencer 2006 Annual Report Download - page 90

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88 Marks and Spencer Group plc
Notes to the financial statements continued
29 ANALYSIS OF CASH FLOWS GIVEN IN THE CASH FLOW STATEMENT
52 weeks 52 weeks
ended ended
1 April 2006 2 April 2005
£m £m
A Cash flows from operating activities – continuing
Profit on ordinary activities after taxation 520.6 355.0
Income tax expense 225.1 150.1
Interest payable and similar charges 134.9 120.9
Interest receivable (30.5) (27.9)
Exceptional operating charges –50.6
Operating profit before exceptional operating charges 850.1 648.7
(Increase)/decrease in inventories (42.2) 55.0
Increase in receivables (4.1) (1.0)
Payments to acquire leasehold properties (38.0) (0.1)
Increase/(decrease) in payables 128.0 (31.2)
Exceptional operating cash outflow (see note 29F) (14.6) (74.6)
Depreciation and amortisation 274.0 255.0
Share-based payments 24.7 22.2
Loss on property disposals 5.7 0.4
Cash generated from operations – continuing 1,183.6 874.4
B Cash flows from operating activities – discontinued
Profit on ordinary activities after taxation 2.5 231.2
Profit on sale –(199.0)
Income tax expense 0.7 3.3
Interest payable and similar charges 0.4 0.2
Interest receivable (0.6) –
Operating profit 3.0 35.7
(Increase)/decrease in inventories (1.1) 0.5
Decrease in receivables 0.4 6.3
Increase in customer advances –(19.6)
Increase in customer deposits –697.3
Increase/(decrease) in payables 4.2 (2.5)
Depreciation and amortisation 6.3 9.7
Loss on property disposals 1.1 –
Cash generated from operations – discontinued113.9 727.4
1Discontinued operations in the current period relate to Kings Super Markets Inc, and include those results of M&S Money for the comparative period. For Kings Super
Markets Inc, there was a cash outflow of £5.2m (last year £3.5m outflow) in relation to investing activities, £0.1m inflow (last year £0.1m inflow) in relation to financing
activities and £0.6m outflow (last year £0.5m outflow) for taxation.
C Capital expenditure and financial investment
Purchase of property, plant and equipment (298.5) (232.2)
Proceeds from sale of property, plant and equipment 45.1 117.8
Purchase of intangible fixed assets (10.9) (10.9)
(Purchase)/sale of non-current financial assets (3.0) 0.8
Sale of current available for sale investments 1.0 11.0
(266.3) (113.5)
D Other debt financing
Cash (outflow)/inflow from borrowings (144.6) 649.0
(Repayment)/drawdown of syndicated bank facility (200.0) 200.0
Redemption of securitised loan notes (3.1) (2.8)
Redemption of medium term notes (58.3) (95.2)
Decrease in obligations under finance leases (3.0) (1.6)
Redemption of B shares (11.0) –
Movement in other creditors treated as financing –7.7
(420.0) 757.1