–for the year ended 31 March 2009

      Group   Company
  Notes 2009
£m
2008
£m
2009
£m
2008
£m
Net cash generated from operations
Cash generated from operations 39 651.3 696.5 (395.4) 433.2
Interest paid   (283.6) (338.3) (53.9) (26.6)
Interest received   10.4 10.7 20.0 14.7
Employer contributions to pension scheme 33 (4.2) (2.0)
Corporation tax (paid)/received   (6.7) (367.7) 9.6 8.3
Net cash inflow/(outflow) from operations   367.2 (0.8) (419.7) 429.6
Cash flows from investing activities
Investment property development expenditure   (208.6) (415.3)
Acquisition of investment properties   (85.3) (722.6)
Other investment property related expenditure   (174.1) (80.0)
Acquisition of properties by Trillium   (0.8) (158.3)
Capital expenditure by Trillium   (46.5) (35.0)
Capital expenditure on properties   (515.3) (1,411.2)
Disposal of non-current investment properties   792.7 1,047.0
Disposal of non-current operating properties   30.3 33.7
Net proceeds/(expenditure) on properties   307.7 (330.5)
Net expenditure on non-property related non-current assets   (0.6) (15.4)
Net cash inflow/(outflow) from capital expenditure   307.1 (345.9)
Receivable finance leases acquired   (82.1)
Receipts in respect of receivable finance leases   11.7 0.8
Receipts from the disposal of discontinued activities   424.9
Loans advanced to third parties 19 (50.0)
Investment in joint ventures   (21.1)
Net loans to joint ventures and cash contributed   (117.5) (75.3)
Distributions from joint ventures   21.6 75.1
Acquisition of PPP investments   (8.2)
Net cash received from disposal group   113.5 296.5
Cash proceeds from disposal of Trillium (net of cash divested) 42 392.7
Acquisitions of Group undertakings (net of cash acquired)   (158.5)
Net cash received from investing activities   658.0 127.3
Cash flows from financing activities
Proceeds from Rights Issue 36 755.7 755.7
Issue of shares arising from exercise of share options 36 2.0 5.2 2.0 5.2
Purchase of own share capital   (87.6)
Increase in debt 30 120.6 260.6
Increase in monies held in restricted accounts and deposits 25 (29.9)
Decrease in finance leases payable   (9.4) (2.0)
Dividends paid to ordinary shareholders 9 (302.4) (308.4) (302.4) (308.4)
Net cash inflow/(outflow) from financing activities   536.6 (132.2) 455.3 (303.2)
Increase/(decrease) in cash and cash equivalents for the year1   1,561.8 (5.7) 35.6 126.4
Cash and cash equivalents at the beginning of the year1 25 47.0 52.7 69.5 (56.9)
Cash and cash equivalents at the end of the year1 25 1,608.8 47.0 105.1 69.5

 

  1. Cash and cash equivalents for the purposes of the cash flow statement excludes monies held in restricted accounts and deposits and includes overdrafts. The Group cash flow includes the cash flows relating to the Trillium discontinued operations up to the date of disposal on 12 January 2009. Further details are included in 42.

 

      Group   Company
  Notes 2009
£m
2008
£m
2009
£m
2008
£m
Cash and cash equivalents (cash flow statements) 25 1,608.8 47.0 105.1 69.5
Overdrafts   0.3 1.4
Monies held in restricted accounts and deposits 25 29.9
Cash and cash equivalents (balance sheet)   1,639.0 48.4 105.1 69.5