Marks and Spencer 1999 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 1999 Marks and Spencer 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 48

  • 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

41
MARKS AN D SPEN CER p.l.c.
29.Analysis of cash flows given in the cash flow statement
THE GRO UP
1999
2000 As restated
£m £m
A EXCEPTIONAL OPERATING CASH FLOW S
UKrestructuring costs paid (0.6)
VAT recovered from H M Customs & Excise –
Exceptional operating cash (outflow)/inflow (0.6)
B RETURNS ON INVESTMENTS AND SERVICIN G OF FINANCE
Interest received 29.8
D ividends paid to minorities (0.8)
Net cash inflow from returns on investments and servicing of finance 29.0
C TAXATION
UK corporation tax paid (337.2)
O verseas tax paid (8.7)
Cash outflow for taxation (345.9)
D CAPITAL EXPENDITURE AND FINANCIAL IN VESTMENT
Purchase of tangible fixed assets (663.0)
Sale of tangible fixed assets 25.5
Purchase of fixed asset investments –
Sale of fixed asset investments 9.4
Net cash outflow for capital expenditure and financial investment (628.1)
E ACQUISITIONS AND DISPOSALS
Increase in investment in subsidiary by the minority –
Repayment of loan by joint venture 1.0
Cash inflow for acquisitions and disposals 1.0
F MANAGEMENT OF LIQUID RESOURCES
D ecrease in cash deposits treated as liquid resources 140.2
N et (purchase)/sale of government securities (14.2)
N et (purchase)/sale of listed investments (0.7)
N et sale of unlisted investments 55.3
Cash inflow from decrease in liquid resources 180.6
G FINANCING
Increase/(decrease) in bank loans, overdrafts and commercial paper treated as financing 29.5
Repayment of 73⁄8% Guaranteed bonds (150.0)
Repayment of US$ Promissory note (268.7)
Issue of medium term notes 859.3
Increase in other creditors treated as financing 12.7
D ebt financing as shown in analysis of net debt (see note 30) 482.8
Shares issued under employees’ share schemes 22.2
Net cash inflow from financing 505.0
N OTES TO THE FIN AN CIAL STATEMEN TS
ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999