Statement of consolidated cash flows for the half year ended 30 July 2011

Half year to 30 July 2011 £m Half year to 31 July 2010 £m Year to 29 January 2011 £m

Cash generated from operations 238.2 262.7 745.1

Net taxation received/(paid) 1.1 (12.0) (27.5)

Partnership bonus paid (194.5) (151.2) (151.2)

Special contribution to the Pension Scheme – (150.0) (150.0)

Finance costs paid (1.2) (0.2) (2.0)

Net cash generated from/(used in) operating activities 43.6 (50.7) 414.4

Cash flows from investing activities

Purchase of property, plant and equipment (184.6) (139.2) (447.9)

Purchase of intangible assets (44.9) (16.3) (43.5)

Proceeds from sale of property, plant and equipment 0.3 0.4 3.7

Finance income received 1.4 2.1 3.1

Net cash used in investing activities (227.8) (153.0) (484.6)

Cash flows from financing activities

Finance costs paid in respect of borrowings (25.1) (56.8) (76.7)

Payment of capital element of finance leases (0.3) (0.3) (0.4)

Payments to preference shareholders (0.1) (0.1) (0.2)

Payments to SIP shareholders (1.3) (1.1) (1.1)

Cash inflow from borrowings 71.5 152.0 151.6

Net cash generated from financing activities 44.7 93.7 73.2

(Decrease)/increase in net cash and cash equivalents (139.5) (110.0) 3.0

Net cash and cash equivalents at beginning of period 447.4 444.4 444.4

Net cash and cash equivalents at end of period 307.9 334.4 447.4

Net cash and cash equivalents comprise:

Cash 115.7 76.6 84.2

Short term investments 289.0 359.0 428.5

Bank overdraft (96.8) (101.2) (65.3)

307.9 334.4 447.4