- Financial Statements
Consolidated Cash Flow Statement
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| for the year to 31 December 2007 | Note | 2007 £m |
2006 £m |
|---|---|---|---|
| Net cash (used in)/from operating activities | 36 | (163.3) | 57.0 |
| Investing activities | |||
| Interest received | 2.3 | 9.1 | |
| Dividends received from joint ventures | 24.4 | 22.6 | |
| Amounts invested in software development | (0.4) | – | |
| Proceeds on disposal of property, plant and investments | 17.3 | 48.0 | |
| Purchases of property, plant and investments | (13.6) | (6.7) | |
| Amounts invested in joint ventures | (3.1) | (9.2) | |
| Amounts repaid by joint ventures | 10.6 | 5.3 | |
| Acquisition of George Wimpey Plc | 35 | 28.1 | – |
| Net cash inflow on acquisition of remaining 50% of North Central Management Limited | 2.9 | – | |
| Net cash from investing activities | 68.5 | 69.1 | |
| Financing activities | |||
| Dividends paid | (117.3) | (79.7) | |
| Dividends paid by subsidiaries to minority shareholders | (1.1) | (0.1) | |
| Proceeds on issue of ordinary share capital | – | 3.3 | |
| Proceeds from sale of own shares | 4.7 | 15.9 | |
| Purchase of own shares | (251.6) | (12.4) | |
| New bank loans raised | 2083.8 | 608.7 | |
| New debenture loans raised | 256.2 | – | |
| Repayment of debenture loans | (52.1) | (4.3) | |
| Repayment of bank loans | (1,944.6) | (600.9) | |
| Increase/(decrease) in bank overdrafts | 0.5 | (2.7) | |
| Net cash used in financing activities | (21.5) | (72.2) | |
| Net (decrease)/increase in cash and cash equivalents | (116.3) | 53.9 | |
| Cash and cash equivalents at beginning of year | 236.5 | 197.3 | |
| Effect of foreign exchange rate changes | 9.8 | (14.7) | |
| Cash and cash equivalents at end of year | 130.0 | 236.5 |