Financial statements

Statement of total recognised gains and losses
Year ended 31 December

	Notes	2002 £m	2001 £m
Profit for the financial year		478	323
Exchange translation differences		(8)	–
Total gains and losses recognised since last annual report		470	323
Profit for the financial year includes joint ventures’ and associates’ profit after tax of £15 million (2001: £27 million).

Group cash flow statement
Year ended 31 December

	Notes	2002 £m	2001 £m
Cash inflow from operating activities(i)	25a	717	825
Dividends received from joint ventures and associates		57	16
Returns on investments and servicing of finance	25b	(25)	(15)
Taxation paid	25c	(192)	(109)
Capital expenditure and financial investment	25d	(402)	(337)
Acquisitions and disposals	25e	(935)	(607)
Equity dividends paid		(138)	(115)
Cash outflow before use of liquid resources and financing		(918)	(342)
Management of liquid resources	25f	134	(257)
Financing	25g	747	686
(Decrease)/increase in net cash		(37)	87
(i) Cash inflow from operating activities includes movements on the Goldfish Bank working capital facility.

Reconciliation of net cash flow to movement in debt,
net of cash and current asset investments
Year ended 31 December

	Notes	2002 £m	2001 £m
(Decrease)/increase in net cash		(37)	87
Movement in Goldfish Bank working capital facility		180	(610)
Cash inflow from increase in other debt and lease financing		(117)	(635)
Cash (inflow)/outflow from (decrease)/increase in liquid resources		(134)	257
Change in debt, net of cash and current asset investments
resulting from cash flows		(108)	(901)
Loans and finance leases acquired		–	(37)
Exchange adjustments		(4)	12
Movement in debt, net of cash and current asset investments		(112)	(926)
Debt, net of cash and current asset investments, at 1 January		(1,043)	(117)
Debt, net of cash and current asset investments, at 31 December	25h	(1,155)	(1,043)
Of which:
Goldfish Bank		(430)	(610)
Other businesses – non-recourse debt		(196)	–
Other businesses – recourse debt		(529)	(433)
Total group		(1,155)	(1,043)

The notes form part of these financial statements.

Centrica is committed to producing websites that are accessible for all. Customise the Annual Report.

Font Size:

Downloads/tools

Annual Report 2002