Marks and Spencer 2004 Annual Report Download - page 32

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30
Marks and Spencer Group plc
CASH FLOW STATEMENT 52 weeks
53 weeks ended
ended 29 March
3 April 2003
2004 As restated
Notes £m £m
Cash inflow from operating activities before contribution to the pension fund 27 1,066.5 1,168.7
Contribution to the pension fund (400.0) –
Cash inflow from operating activities 666.5 1,168.7
Dividend received from joint venture –8.0
Returns on investments and servicing of finance
Interest received 14.4 11.9
Interest paid (61.2) (51.3)
Non-equity dividends paid (3.0) (6.8)
Net cash outflow from returns on investments and servicing of finance (49.8) (46.2)
Taxation
UK corporation tax paid (216.3) (212.0)
Overseas tax paid (4.1) (4.9)
Cash outflow for taxation (220.4) (216.9)
Capital expenditure and financial investment
Purchase of tangible fixed assets (428.8) (324.5)
Sale of tangible fixed assets 126.2 25.0
Purchase of fixed asset investments (0.6) (0.7)
Sale of fixed asset investments 9.3 5.8
Net cash outflow for capital expenditure and financial investment (293.9) (294.4)
Acquisitions and disposals
Closure of operations 51.3 (10.8)
Sale of subsidiaries –(30.2)
Repayment of loan by joint venture –2.2
Cash inflow/(outflow) from acquisitions and disposals 51.3 (38.8)
Equity dividends paid (247.1) (225.4)
Cash (outflow)/inflow before management of liquid resources and financing (93.4) 355.0
Management of liquid resources and financing
Management of liquid resources 28B (89.0) (46.9)
Financing 28C 347.0 (712.3)
258.0 (759.2)
Increase/(decrease) in cash 164.6 (404.2)
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT 2004 2003
£m £m
Increase/(decrease) in cash 164.6 (404.2)
Cash outflow from increase in liquid resources 28B 89.0 46.9
Cash (inflow)/outflow from (increase)/decrease in debt financing 28C (413.6) 431.4
Exchange and other movements 29 (3.3) 1.5
Movement in net debt (163.3) 75.6
Opening net debt 29 (1,831.4) (1,907.0)
Closing net debt 29 (1,994.7) (1,831.4)
Marks and Spencer Group plc
Consolidated cash flow information