Group cash flow statement
Year ended 31 July 2009

	Notes	2009 £m	2008 £m
Cash flows from operating activities
Cash generated from operations	36	1,200	1,262
Interest received		66	70
Interest paid		(231)	(205)
Tax paid		(27)	(99)
Net cash generated from operating activities		1,008	1,028
Cash flows from investing activities
Acquisition of businesses (net of cash acquired)	37	(18)	(199)
Disposals of businesses (net of cash disposed of)		(15)	16
Purchases of property, plant and equipment		(91)	(219)
Proceeds from sale of property, plant and equipment		172	84
Purchases of intangible assets		(66)	(98)
Purchases of investments		(155)	–
Disposals of investments		5	–
Net cash used in investing activities		(168)	(416)
Cash flows from financing activities
Proceeds from the issue of shares to shareholders	35	999	4
Purchases of shares by Employee Benefit Trusts	35	(5)	–
Proceeds from new borrowings		–	283
Repayments of borrowings and derivatives		(1,437)	(529)
Finance lease capital payments		(26)	(19)
Dividends paid to shareholders		–	(215)
Net cash used by financing activities		(469)	(476)
Net cash generated		371	136
Effects of exchange rate changes		24	7
Net increase in cash, cash equivalents and bank overdrafts		395	143
Cash, cash equivalents and bank overdrafts at the beginning of the year	39	203	60
Cash, cash equivalents and bank overdrafts at the end of the year	39	598	203

The accompanying notes are an integral part of these consolidated financial statements.

Group cash flow statementYear ended 31 July 2009