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Unaudited Condensed Consolidated Statement of Cash Flows - GBP (£)
£ in Millions
6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Profit for the period £ 1,934 £ 2,067
Taxation 530 560
Share of after tax results of associates and joint ventures (176) (179)
Net finance charges 154 128
Non-operating items 0 (146)
Operating profit 2,442 2,430
Increase in inventories (85) (245)
Increase in trade and other receivables (1,016) (829)
Increase in trade and other payables and provisions 423 418
Net increase in working capital (678) (656)
Depreciation, amortisation and impairment 286 185
Dividends received 3 3
Post employment payments less amounts included in operating profit (60) (61)
Other items (5) 37
Adjustments to reconcile profit (loss), Total 224 164
Cash generated from operations 1,988 1,938
Interest received 86 101
Interest paid (239) (206)
Taxation paid (547) (229)
Net total of interest received, interest paid and taxation paid (700) (334)
Net cash inflow from operating activities 1,288 1,604
Cash flows from investing activities    
Disposal of property, plant and equipment and computer software 8 13
Purchase of property, plant and equipment and computer software (330) (271)
Sale of businesses and brands 0 419
Acquisition of businesses (106) (32)
Net cash (outflow)/inflow from investing activities (428) 129
Cash flows from financing activities    
Share buyback programme (1,155) (1,275)
Proceeds from issue of share capital 1 1
Net sale of own shares for share schemes 33 25
Dividends paid to non-controlling interests (76) (76)
Proceeds from bonds 1,289 1,754
Purchase of shares of non-controlling interests (25) (697)
Net movements in other borrowings 209 220
Equity dividends paid (1,006) (993)
Net cash outflow from financing activities (730) (1,041)
Net increase in net cash and cash equivalents 130 692
Exchange differences (32) 14
Net cash and cash equivalents at beginning of the period 721 693
Net cash and cash equivalents at end of the period 819 1,399
Net cash and cash equivalents consist of:    
Cash and cash equivalents 950 1,591
Bank overdrafts £ (131) £ (192)