Marks and Spencer 2005 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2005 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 64

  • 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

32 MARKS AND SPENCER GROUP PLC
Consolidated cash flow information
CASH FLOW STATEMENT 52 weeks 53 weeks
ended ended
2 April 3 April
2005 2004
Notes £m £m
Cash inflow from continuing operating activities before contribution to the pension fund 857.5 1,002.3
Contribution to the pension fund following 2003 actuarial valuation –(400.0)
Cash inflow from continuing operating activities 857.5 602.3
Cash inflow from discontinued operating activities 717.9 64.2
Cash inflow from operating activities 28 1,575.4 666.5
Returns on investments and servicing of finance
Interest received 15.4 14.4
Interest paid (114.2) (61.2)
Non-equity dividends paid (2.8) (3.0)
Net cash outflow from returns on investments and servicing of finance (101.6) (49.8)
Taxation
UK corporation tax paid (161.3) (216.3)
Overseas tax paid (5.4) (4.1)
Cash outflow for taxation (166.7) (220.4)
Capital expenditure and financial investment
Purchase of tangible fixed assets (232.2) (428.8)
Sale of tangible fixed assets 117.8 126.2
Purchase of fixed asset investments –(0.6)
Sale of fixed asset investments 0.8 9.3
Net cash outflow for capital expenditure and financial investment (113.6) (293.9)
Acquisitions and disposals
Closure of operations 12.7 51.3
Sale of subsidiaries 30B 477.0 –
Purchase of subsidiaries 30A (125.9) –
Net cash inflow from acquisitions and disposals 363.8 51.3
Equity dividends paid (236.9) (247.1)
Cash inflow/(outflow) before management of liquid resources and financing 1,320.4 (93.4)
Management of liquid resources and financing
Management of liquid resources 29B 66.7 (89.0)
Financing 29C (1,507.5) 347.0
(1,440.8) 258.0
(Decrease)/increase in cash (120.4) 164.6
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT 52 weeks 53 weeks
ended ended
2 April 3 April
2005 2004
Notes £m £m
(Decrease)/increase in cash (120.4) 164.6
Cash (inflow)/outflow from (decrease)/increase in liquid resources 29B (66.7) 89.0
Cash inflow from increase in debt financing 29C (757.6) (413.6)
Debt financing net of liquid resources disposed with subsidiary 839.7 –
Exchange and other movements 31 0.7 (3.3)
Movement in net debt (104.3) (163.3)
Opening net debt 31 (1,994.7) (1,831.4)
Closing net debt 31 (2,099.0) (1,994.7)