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Group cash flow statement
for the 56 weeks to 3 April 1999
38 J Sainsbury plc Annual report and accounts 1999
1999 1998
56 weeks 52 weeks
Note £m £m
Net cash inflow from operating activities 27 1,322 1,149
Dividends received from Associated Undertakings 3 6
Returns on investments and servicing of finance
Interest received 46 22
Interest paid (113) (83)
Interest element of finance lease rental payments (16) (14)
Net cash outflow from returns on investments and servicing of finance (83) (75)
Tax paid (287) (177)
Capital expenditure and financial investment
Payments for tangible fixed assets (803) (672)
Receipts from sale of tangible fixed assets 107 96
Purchase of investments (2) (7)
Net cash outflow from capital expenditure and financial investment (698) (583)
Acquisitions and disposals
Investment in Sainsbury’s Bank by minority shareholder 9 38
Investment in Egyptian Distribution Group SAE (11) –
Proceeds from disposal of Giant Food Inc. 345 –
Proceeds from disposal of other fixed asset investments 3 13
Net cash inflow from acquisitions and disposals 346 51
Equity dividends paid (249) (221)
Management of liquid resources 3 –
Financing
Issue of ordinary share capital 38 41
Debt due within a year
Increase/(decrease) in short-term borrowings 188 (629)
Debts due beyond a year
(Decrease)/increase in long-term borrowing (9) 343
Capital element of finance lease rental payments (6) (7)
Net cash inflow/(outflow) from financing 211 (252)
Increase/(decrease) in cash in the period 568 (102)
Reconciliation of net cash flow to movement in net debt
Increase/(decrease) in cash in the period 568 (102)
Cash (inflow)/outflow from (increase)/decrease in debt and lease financing (173) 293
New finance leases (17) (13)
Currency translation difference (5) 11
8.5% Capital Bonds conversion – 156
Movement in net debt in the period 22 373 345
Net debt at the beginning of the period 22 (1,077) (1,436)
Prior year reclassification 22 – 14
Net debt at the end of the period 22 (704) (1,077)