Group Cash Flow Statement
For the year ended 31 March
| Note | 2009 $m |
2008 $m |
|
| Cash flows from operating activities - continuing operations | |||
| Cash generated from operations | 23 | 1,968 | 2,725 |
| Interest paid | (40) | (32) | |
| Income tax paid | (312) | (324) | |
| 1,616 | 2,369 | ||
| Cash flows from operating activities - discontinued operations | - | (522) | |
| Cash flows from operating activities - total Group | 1,616 | 1,847 | |
| Cash flows from investing activities - continuing operations | |||
| Acquisition of subsidiaries and joint ventures, net of cash acquired | 24 | (245) | (18) |
| Purchase of property, plant and equipment | (38) | (21) | |
| Purchase of intangible assets | (250) | (243) | |
| Purchase of other investments | (172) | (221) | |
| Purchase of additional interests in joint ventures and associates | (17) | - | |
| Proceeds from sale of other investments | 41 | 25 | |
| Proceeds less costs from sale of Brokerage | 25 | - | 2,734 |
| Cash disposed on the IPO of Brokerage | 25 | - | (1,373) |
| Net proceeds from sale of Brokerage, net of cash disposed | - | 1,361 | |
| Interest received | 60 | 146 | |
| Dividends received from associates and other investments | 141 | 78 | |
| Proceeds from sale of associate | 25 | - | |
| (455) | 1,107 | ||
| Cash flows from investing activities - discontinued operations | - | 44 | |
| Cash flows from investing activities - total Group | (455) | 1,151 | |
| Cash flows from financing activities - continuing operations | |||
| Proceeds from issue of ordinary shares | 53 | 75 | |
| Proceeds from issue of capital securities, net of issue costs | 293 | - | |
| Purchase of treasury shares | (280) | (520) | |
| Purchase of own shares by ESOP trust | (218) | (145) | |
| Disposal of own shares by ESOP trust | 47 | 48 | |
| Proceeds from borrowings net of issue costs | 242 | - | |
| Repayment of borrowings | - | (758) | |
| Return of net proceeds from sale of Brokerage | (67) | (2,667) | |
| Dividends paid to Company shareholders | (718) | (578) | |
| Dividend payments in respect of capital securities | (25) | - | |
| Dividends paid to minority interests | (1) | - | |
| Cash flows from financing activities - total Group | (674) | (4,545) | |
| Net increase/(decrease) in cash and bank overdrafts | 487 | (1,547) | |
| Cash and bank overdrafts at the beginning of the year | 1,873 | 3,420 | |
| Cash and bank overdrafts at the end of the year - total Group | 2,360 | 1,873 | |
For the purposes of the cash flow statement, cash and cash equivalents are net of overdrafts repayable on demand. These overdrafts are included in borrowings disclosed on the balance sheet. Overdrafts repayable on demand amounted to $1 million (2008: $3 million).
