For year ending 28th September, 2003
| 2003 | 2002 | ||
| Note | £m | £m | |
| Net cash inflow from operating activities | 15 | 312.4 | 264.6 |
| Dividends received from joint ventures and associates | 7.2 | 6.9 | |
| Returns on investments and servicing of finance | 16 | (57.5) | (64.7) |
| Taxation (net) | 16 | (25.7) | (24.9) |
| Capital expenditure and financial investment (net) | 16 | (93.4) | (84.4) |
| Acquisitions and disposals | 16 | (51.5) | (101.0) |
| Equity dividends paid | (37.4) | (35.0) | |
| Management of liquid resources | 17 | 7.1 | 3.6 |
| Net cash (outflow)/inflow from financing | 16 | (85.3) | 3.1 |
| Decrease in net cash | (24.1) | (31.8) | |
| Reconciliation of net cash flow to movement in net debt | |||
| Decrease in net cash | 17 | (24.1) | (31.8) |
| Cash outflow/(inflow) from change in debt and lease finance | 17 | 84.2 | (8.9) |
| Cash inflow from change in liquid resources | 17 | (7.1) | (3.6) |
| Change in net debt from cash flows | 53.0 | (44.3) | |
| Loan notes issued and loans arising from acquisitions | 17 | (2.7) | (1.2) |
| Loan notes cancelled arising on disposals | 17 | – | 3.0 |
| Other non–cash items | 17 | (1.7) | (3.9) |
| Decrease/(increase) in net debt in the year | 48.6 | (46.4) | |
| Net debt at beginning of year | 17 | (921.8) | (875.4) |
| Net debt at end of year | 17 | (873.2) | (921.8) |