Carphone Warehouse 2003 Annual Report Download - page 39

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37
The Carphone Warehouse Group PLC Annual Report 2003
25 Reconciliation of movements in shareholders’ funds
Group Company
2003 2002 2003 2002
£’000 £’000 £’000 £’000
Profit (loss) for the financial period 22,069 (28,262) 189 23,500
Dividends (8,729) – (8,729) –
Currency translation 3,021 (302) – (169)
Issue of share capital 35,927 3,002 36,209 3,072
Net movement in shareholders’ funds 52,288 (25,562) 27,669 26,403
Opening shareholders’ funds 407,255 432,817 384,151 357,748
Closing shareholders’ funds 459,543 407,255 411,820 384,151
26 Equity minority interests
Equity interests
Group £’000
At 30 March 2002 772
Acquisitions (772)
At 29 March 2003 –
As explained in note 14b, during the period the Group acquired the remaining 15% of MViva Limited, a company in which it already had an 85% stake.
27 Analysis of cash flows
2003 2002
£’000 £’000
a. Returns on investments and servicing of finance
Interest received 4,936 5,711
Interest paid (7,506) (5,369)
Net cash (outflow) inflow from returns on investments and servicing of finance (2,570) 342
b. Taxation
Corporation tax received (paid) 1,059 (9,398)
Net cash inflow (outflow) from taxation 1,059 (9,398)
c. Capital expenditure and financial investment
Payments to acquire fixed asset investments (36) (604)
Payments to acquire tangible fixed assets (39,411) (41,377)
Receipts from sale of (payments to acquire) short-term investments 54,572 (9,863)
Receipts from sale of tangible fixed assets 3,119 3,102
Net cash inflow (outflow) from capital expenditure and financial investment 18,244 (48,742)
d. Acquisitions and disposals
Purchase of subsidiary undertakings (32,557) (56,287)
Net (overdrafts) cash acquired with subsidiary undertakings (5,335) 13,441
Net cash outflow from acquisitions and disposals (37,892) (42,846)
e. Financing
Net receipts from issuing shares 102 72
(Decrease) increase on loans (42,725) 34,597
Net cash (outflow) inflow from financing (42,623) 34,669
f. Analysis of changes in net funds (debt)
At 30 March Cash Exchange At 29 March
2002 flows Acquisitions movement 2003
£’000 £’000 £’000 £’000 £’000
Cash at bank and in hand 20,684 25,250 – 1,043 46,977
Overdrafts (213) (11,354) – (25) (11,592)
20,471 13,896 – 1,018 35,385
Debt due within one year (10,432) 14,828 – (7,127) (2,731)
Debt due after more than one year (24,713) 27,897 (24,136) (8,880) (29,832)
Net (debt) funds (14,674) 56,621 (24,136) (14,989) 2,822