For the six months ended 31 March 2004
| (In £’s million) | Notes | 6 months ended 31 March 2004 |
Restated (see note 2) 6 months ended 31 March 2003 |
Restated (see note 2) Year ended 30 September 2003 |
|---|---|---|---|---|
| Net cash inflow from operating activities | 7 | 495 | 51 | 802 |
| Returns on investments and servicing of finance | (35) | (42) | (237) | |
| Taxation | (55) | (31) | (154) | |
| Capital expenditure and financial investment | 15 | (23) | (59) | |
| Acquisitions | ||||
| Payments to acquire businesses | (12) | - | (2) | |
| Deferred consideration in respect of prior year acquisitions | (387) | (47) | (47) | |
| Net cash outflow from acquisitions | (399) | (47) | (49) | |
| Equity dividends paid | (217) | (167) | (254) | |
| Net cash (outflow)/inflow before management of liquid resources and financing | (196) | (259) | 49 | |
| Management of liquid resources | - | 30 | 58 | |
| Financing | 216 | 254 | (126) | |
| Increase/(decrease) in cash in the period | 20 | 25 | (19) |
Reconciliation of net cash flow to movement in net debt
| (In £’s million) | Notes | 6 months ended 31 March 2004 |
6 months ended 31 March 2003 |
Year ended 30 September 2003 |
|---|---|---|---|---|
| Increase/(decrease) in cash in the period | 20 | 25 | (19) | |
| Cash (inflow)/outflow from (increase)/decrease in debt | (218) | (274) | 86 | |
| Cash inflow from decrease in liquid resources | - | (30) | (58) | |
| Change in net debt resulting from cash flows | (198) | (279) | 9 | |
| Currency and other movements | 160 | (331) | (382) | |
| Deferred consideration | 8 | 385 | - | - |
| Movement in net debt in the period | 347 | (610) | (373) | |
| Opening net debt | (4,068) | (3,695) | (3,695) | |
| Closing net debt | 8 | (3,721) | (4,305) | (4,068) |
