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Notes to the accounts
27 Reconciliation of operating profit to net cash inflow from operating activities
56 J Sainsbury plc Annual report and accounts 1999
Group
1999 1998
56 weeks 52 weeks
£m £m
Operating profit before profit sharing 881 806
Profit sharing (45) (44)
Depreciation 388 345
Loss on sale of equipment, fixtures and vehicles 6 11
Increase in stocks (75) (4)
(Increase)/decrease in debtors (73) 13
Increase in creditors 261 101
Increase in Sainsbury’s Bank current assets (182) (1,567)
Increase in Sainsbury’s Bank creditors 166 1,495
1,327 1,156
Payment against provisions (5) (7)
1,322 1,149
The payment against provisions relates to the provision raised in 1996 for store closure costs of Texas Homecare (£4 million) and to the
provision raised in 1994 for losses on realisation of surplus land and stores due for closure (£1 million).
28 Future capital expenditure
Group
1999 1998
£m £m
Contracted for but not provided for in the accounts 184 192
29 Contingent liabilities and financial commitments
The Company had no guarantees for the borrowings of subsidiaries at 3 April 1999 (1998: £1 million).
Commitments to make operating lease payments during the next financial year are as follows:
Group Company
£m £m
Land and buildings:
Leases which expire within 1 year 2 –
Leases which expire between 1 and 5 years 5 –
Leases which expire after 5 years 259 –
Other leases:
Leases which expire within 1 year 1 –
Leases which expire between 1 and 5 years 12 –
Leases which expire after 5 years 13 13