Note
Year ended
31 July 2001
£m
Year ended
31 July 2000
£m
Reconciliation of operating profit to net cash inflow from operating activities
Operating profit
466.1
563.7
Exceptional items
133.5
19.3
Operating profit before exceptional items
599.6
583.0
Goodwill amortisation
48.7
35.5
Depreciation
139.3
132.0
Increase in stocks
(34.4)
(12.2)
(Increase)/decrease in debtors
(71.7)
36.5
Increase/(decrease) in creditors
19.5
(85.6)
Net cash inflow from normal operating activities
701.0
689.2
Restructuring costs
(74.2)
(22.6)
Net cash inflow from operating activities
626.8
666.6
Cash-flow statement
Net cash inflow from operating activities before merger costs
626.8
666.6
Merger costs
(54.2)
Net cash inflow from operating activities after merger costs
572.6
666.6
Dividends received from joint ventures and associates
0.1
Returns on investments and servicing of finance
23
(117.9)
(69.6)
Tax paid
(115.6)
(114.9)
Capital expenditure
15
(188.0)
(168.2)
151.1
314.0
Acquisitions and disposals
26
&
27
368.6
(590.5)
Equity dividends paid
(171.3)
(145.3)
Management of liquid resources
22
193.6
87.4
Financing
22
(448.2)
326.7
Increase/(decrease) in cash
93.8
(7.7)
Reconciliation to net debt
Net debt at 1 August
(1,465.7)
(973.4)
Increase/(decrease) in cash
93.8
(7.7)
Reduction in short-term deposits
22
(193.6)
(87.4)
(Increase)/decrease in other borrowings
22
452.8
(329.4)
Loan note issues net of repayments
22
3.5
Term debt of acquisitions assumed
(37.9)
Term deposits acquired with acquisitions
26
19.0
8.4
Debt de-consolidated on disposals
27
19.1
Exchange variation
(48.7)
(38.3)
Net debt at 31 July
22
(1,119.8)
(1,465.7)
Notes to the accounts
form part of these accounts.
