Group statement of cash flows

For the year ended 31 March 2011

Notes 2011
£m
2010
£m
Operating activities
Operating profit 275.7 181.0
Adjustments for non-cash items 20 (223.7) (150.3)
Decrease/(increase) in receivables 18.6 (26.2)
Increase in payables 2.7 2.9
Cash generated from operations 73.3 7.4
Interest received 0.4
Interest paid (11.7) (12.5)
Cash flows from operating activities 61.6 (4.7)
Investing activities
Purchase of interests in joint ventures (44.0)
Distributions from joint ventures 28.8 40.7
Purchase and development of property (259.2) (55.2)
Sale of properties 114.1 168.7
Cash flow from investing activities (116.3) 110.2
Financing activities
Issue of share capital – net proceeds from Rights Issue 166.4
Borrowings drawn/(repaid) 73.1 (100.0)
Termination of derivatives (18.2)
Purchase of derivatives (2.3)
Funds from joint ventures (29.3) (86.1)
Purchase of own shares (5.7) (3.5)
Equity dividends paid (26.1) (23.4)
Cash flows utilised in financing activities 12.0 67.1
Net (decrease)/increase in cash and cash equivalents (42.7) 38.4
Cash and cash equivalents at 1 April 45.7 7.3
Cash and cash equivalents at balance sheet date 3.0 45.7


Download MS Excel file of Group statement of cash flows