Group OverviewSenior Management ReviewOperating and Financial ReviewDirectors’ ReportsAccountsShareholder Information

For the Year Ended 31 December 2006

  Note 2006
£m		 2005
£m
Cash generated from operations 38 254.5 181.1
Tax paid   (9.0) (26.7)
Net cash from operating activities   245.5 154.4
Cash flows from investing activities    
Payments to acquire businesses, net of cash acquired   (19.8) (218.8)
Deferred consideration for businesses acquired   (3.0) (0.3)
Purchase of property, plant and equipment   (73.5) (61.7)
Proceeds from disposal of property, plant and equipment   24.3 8.1
Payments to acquire investments   (4.6) –
Payments to acquire associates   (1.5) –
Receipts from disposal of investments   13.2 –
Receipts from disposal of businesses, net of cash disposed   – 71.3
Receipts from disposal of intangible assets   1.5 –
Interest received   12.4 10.8
Receipts from sale of shares for employee schemes   – 3.5
Net cash used in investing activities   (51.0) (187.1)
Cash flows from financing activities    
Proceeds from issue of ordinary shares   15.8 4.9
Purchase of treasury shares   (11.6) (3.5)
Share buy back   – (25.8)
Interest paid   (32.1) (32.6)
Finance lease principal payments   (21.5) (20.0)
Repayment of loan notes   – (6.7)
Net loans (repaid)/advanced   (89.9) 148.1
Loans receivable repaid   1.0 –
Dividends paid   (49.7) (41.6)
Net cash (used in)/from financing activities   (188.0) 22.8
Increase/(decrease) in cash and cash equivalents   6.5 (9.9)
Opening cash and cash equivalents   140.0 147.2
Increase/(decrease) in cash and cash equivalents   6.5 (9.9)
Foreign exchange   (2.9) 2.7
Closing cash and cash equivalents 23 143.6 140.0

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