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John Lewis Partnership plc Interim Report 2009


Statement of consolidated cash flows for the half year ended 1 August 2009

Half year to 1 August 2009 Half year to 26 July 2008 Year to 31 January 2009
£m £m £m

Cash generated from operations 285.2 253.6 586.1
Net taxation (paid)/received (16.4) 4.7 (8.4)
Partnership bonus paid (124.3) (181.8) (181.7)
Finance costs paid (6.5) (5.1) (20.0)

Net cash generated from operating activities 138.0 71.4 376.0

Cash flows from investing activities
Purchase of property, plant and equipment (258.5) (153.2) (363.8)
Purchase of intangible assets (19.7) (17.2) (39.2)
Proceeds from sale of property, plant and equipment 0.4 8.3 9.0
Finance income received 2.8 5.0 12.7

Net cash used in investing activities (275.0) (157.1) (381.3)

Cash flows from financing activities
Finance costs paid in respect of bonds – (19.1) (48.7)
Payment of capital element of finance leases (0.4) (0.7) (1.0)
Payments to preference shareholders (0.1) (0.1) (0.2)
Payments to SIP shareholders1 (1.5) (0.6) (0.6)
Cash inflow from borrowings 286.5 89.5 114.4

Net cash generated from financing activities 284.5 69.0 63.9

Increase/(decrease) in net cash and cash equivalents 147.5 (16.7) 58.6
Net cash and cash equivalents at beginning of period 121.8 63.2 63.2

Cash and cash equivalents at end of period 269.3 46.5 121.8

Cash and cash equivalents comprise:
Cash 66.1 64.3 66.6
Short term deposits 267.0 46.9 131.0
Bank overdraft (63.8) (64.7) (75.8)

269.3 46.5 121.8

1 Payments to SIP shareholders is now presented within financing activities, previously in operating activities.