Holiday Inn 2004 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2004 Holiday Inn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

2004 2003
12 months 15 months
15 OPERATING CASH FLOW £m £m
Hotels 291 336
Soft Drinks 73 59
InterContinental Hotels Group PLC* 364 395
Discontinued operations* –152
364 547
* InterContinental Hotels Group PLC relates to continuing operations. Discontinued operations relate to Mitchells & Butlers plc.
2004 2003
12 months 15 months
16 MANAGEMENT OF LIQUID RESOURCES AND FINANCING £m £m
New borrowings* 9,666 18,672
Other borrowings repaid* (9,408) (19,061)
258 (389)
Debt assumed by MAB –577
Ordinary shares issued 16 18
Purchase of own shares (257) –
Purchase of own shares by employee share trusts (33) –
Proceeds on release of shares by employee share trusts 16 –
Financing –206
Movement in liquid resources†320 (129)
320 77
* Includes amounts rolled over under bank loan facilities.
†Liquid resources primarily comprise short-term deposits of less than one year, short-term investments and, in 2003, currency swaps.
31 Dec 2004 31 Dec 2003
Net Net
Total operating Total operating
17 ASSETS £m £m £m £m
Hotels Americas 1,073 765 1,146 859
EMEA 2,755 2,334 3,183 2,422
Asia Pacific 444 414 481 457
4,272 3,513 4,810 3,738
Soft Drinks 502 306 470 300
4,774 3,819 5,280 4,038
Non-operating assets:
Current asset investments 40 377
Cash at bank and in hand 43 55
Corporate taxation 14 37
Non-operating liabilities:
Borrowings (1,199) (1,001)
Proposed dividend of parent company (62) (70)
Proposed dividend for minority shareholders (19) (16)
Corporate taxation (261) (389)
Deferred taxation (248) (314)
Minority equity interests (150) (163)
4,774 1,977 5,280 2,554
United Kingdom 1,972 1,512 2,329 1,586
Rest of Europe, the Middle East and Africa 1,285 1,128 1,324 1,136
United States of America 958 667 1,020 751
Rest of Americas 115 98 126 108
Asia Pacific 444 414 481 457
4,774 3,819 5,280 4,038
Net non-operating liabilities (1,842) (1,484)
4,774 1,977 5,280 2,554
InterContinental Hotels Group 2004 55