GROUP CASH FLOW STATEMENT

for the year ended 3rd October, 2004

	Note	2004 £m	2003 (restated)* £m
Net cash inflow from operating activities	15	382.4	312.4
Dividends received from joint ventures and associates		8.8	7.2
Returns on investments and servicing of finance	16	(58.1)	(57.5)
Taxation (net)	16	(14.3)	(25.7)
Capital expenditure and financial investment (net)	16	(85.7)	(90.2)
Acquisitions and disposals	16	(128.5)	(51.5)
Equity dividends paid		(41.0)	(37.4)
Management of liquid resources	17	(1.3)	7.1
Net cash outflow from financing	16	(19.1)	(88.5)
Increase/(decrease) in net cash		43.2	(24.1)
Reconciliation of net cash flow to movement in net debt
Increase/(decrease) in net cash	17	43.2	(24.1)
Cash outflow from change in debt and lease finance	17	43.7	84.2
Cash outflow/(inflow) from change in liquid resources	17	1.3	(7.1)
Change in net debt from cash flows		88.2	53.0
Loan notes issued and loans arising from acquisitions	17	(2.2)	(2.7)
Other non-cash items	17	7.4	(1.7)
Decrease in net debt in the year		93.4	48.6
Net debt at beginning of year	17	873.2)	(921.8)
Net debt at end of year	17	(779.8)	(873.2)

* See Note 34