Marks and Spencer 2001 Annual Report Download - page 40

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40 Marks and Spencer p.l.c.
26. Reconciliation of movements in Group shareholders’ funds The Group
2001 2000
£m £m
Profit attributable to shareholders 1.3 258.7
Dividends (258.3) (258.6)
(257.0) 0.1
Other recognised gains and losses relating to the year 11.6 (13.8)
New share capital subscribed 7.1 11.8
Amounts deducted from profit and loss account reserve in respect of shares issued to the QUEST –(1.1)
Purchase of own shares (20.3) –
Goodwill transferred to profit and loss account on closure of businesses (1.3) 24.4
Net (reduction)/addition to shareholders’ funds (259.9) 21.4
Shareholders’ funds at 1 April 4,905.3 4,883.9
Shareholders’ funds at 31 March 4,645.4 4,905.3
27. Reconciliation of operating profit to net cash inflow from operating activities The Group
2001 2000
£m £m
Operating profit 440.5 471.0
Exceptional operating charges (see note 4A) 26.5 72.0
Operating profit before exceptional charges 467.0 543.0
Depreciation 275.9 261.6
Decrease in stocks 14.7 40.3
Increase in customer advances (117.8) (206.2)
Decrease in other debtors 43.8 0.9
Increase in creditors 23.1 51.1
Net cash inflow before exceptional items 706.7 690.7
Exceptional operating cash outflow (see note 28A) (30.3) (49.2)
Net cash inflow from operating activities 676.4 641.5
28. Analysis of cash flows given in the cash flow statement The Group
2001 2000
£m £m
A Exceptional operating cash flows
UK redundancy costs paid (29.5) (44.7)
European restructuring costs paid (0.8) (4.5)
Exceptional operating cash outflow (30.3) (49.2)
B Returns on investments and servicing of finance
Interest received 13.1 17.8
Interest paid –(2.0)
Dividends paid to minorities (0.5) (0.6)
Net cash inflow from returns on investments and servicing of finance 12.6 15.2
C Taxation
UK corporation tax paid (164.5) (143.5)
Overseas tax paid (0.1) (2.2)
Cash outflow for taxation (164.6) (145.7)
D Capital expenditure and financial investment
Purchase of tangible fixed assets (269.8) (447.5)
Sale of tangible fixed assets 18.9 266.0
Purchase of fixed asset investments (18.0) (1.9)
Sale of fixed asset investments 10.7 16.4
Net cash outflow for capital expenditure and financial investment (258.2) (167.0)
Notes to the financial statements