| Group | Company | ||||
|---|---|---|---|---|---|
| £ million | Note | 2008 | 2007 | 2008 | 2007 |
| Cash flows from operating activities | |||||
| Operating profit | 875 | 602 | 855 | 607 | |
| Operating loss from discontinued operations | (2) | (122) | – | – | |
| Credit arising on changes to pension scheme | – | (396) | – | (396) | |
| Depreciation, amortisation and impairment | 692 | 834 | 672 | 695 | |
| (Group includes £120 million from discontinued operations in 2007) | |||||
| Operating cash flow before working capital changes | 1,565 | 918 | 1,527 | 906 | |
| Decrease/(increase) in inventories, trade and other receivables | 96 | 61 | 89 | (136) | |
| Decrease in trade and other payables and provisions | (354) | (15) | (351) | (18) | |
| Cash payment to NAPS pension scheme | 35 | (610) | (240) | (610) | (240) |
| Provision for settlement of competition investigations | – | 350 | – | 350 | |
| Payment to DOJ in settlement of competition investigations | 29 | (149) | – | (149) | – |
| Other non-cash movements | 3 | (2) | (32) | (2) | |
| Cash generated from operations | 551 | 1,072 | 474 | 860 | |
| Interest paid | (182) | (188) | (169) | (170) | |
| Taxation | (66) | (128) | (56) | (127) | |
| Net cash flow from operating activities | 303 | 756 | 249 | 563 | |
| Cash flows from investing activities | |||||
| Purchase of property, plant and equipment | 14 | (596) | (331) | (592) | (326) |
| Purchase of intangible assets | 17 | (33) | (36) | (32) | (36) |
| Purchase of interest in associate | 19 | (54) | – | – | – |
| Purchase of subsidiary undertaking | 19 | – | – | (1,016) | (13) |
| Purchase of minority interest | – | (13) | – | – | |
| Proceeds from sale of associated companies | – | 3 | – | – | |
| Proceeds from sale of other investments | – | 52 | – | 52 | |
| Proceeds from sale of property, plant and equipment | 11 | 7 | 11 | 7 | |
| Insurance recoveries from write-off of Boeing 777 aircraft | 51 | – | 51 | – | |
| Cash inflow/(outflow) from disposal of subsidiary company | 1 | (149) | – | – | |
| Interest received | 117 | 113 | 123 | 112 | |
| Dividends received | 3 | 1 | 4 | 20 | |
| Decrease in interest-bearing deposits | 458 | 389 | 1,238 | 390 | |
| Net cash flow from investing activities | (42) | 36 | (213) | 206 | |
| Cash flows from financing activities | |||||
| Proceeds from long-term borrowings | 172 | – | 172 | – | |
| Repayments of borrowings | (68) | (97) | (57) | (77) | |
| Payment of finance lease liabilities | (356) | (388) | (355) | (383) | |
| Exercise of share options | 4 | 50 | 4 | 50 | |
| Purchase of own shares | – | (12) | – | (12) | |
| Distributions made to holders of perpetual securities | (14) | (14) | – | – | |
| Net cash flow from financing activities | (262) | (461) | (236) | (422) | |
| Net (decrease)/increase in cash and cash equivalents | (1) | 331 | (200) | 347 | |
| Net foreign exchange difference | (29) | (16) | (29) | (11) | |
| Cash and cash equivalents at April 1 | 713 | 398 | 662 | 326 | |
| Cash and cash equivalents at March 31 | 24 | 683 | 713 | 433 | 662 |