Administrative expenses 535.4 461.5

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2,437.1 2,258.4

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4 Net finance costs

2013 £m - 2012 £m

Finance costs

Interest payable on:

Bank loans and overdrafts 2.1 2.6

Other loans repayable within 5 years 13.6 12.2

Other loans repayable in more than 5 years 41.3 43.8

Finance lease interest payable 1.7 1.2

Amortisation of issue costs of bonds 1.1 1.0

Preference dividends 0.3 0.3

SIP dividends 1.8 1.6

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Finance costs in respect of borrowings 61.9 62.7

Fair value measurements and other 0.6 3.1

Net finance costs arising on other employee benefit schemes 20.4 6.5

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Total finance costs 82.9 72.3

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Finance income

Interest receivable (1.9) (2.4)

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Finance income in respect of cash and short term investments (1.9) (2.4)

Fair value measurements and other – (0.1)

Net finance income arising on defined benefit retirement schemes (note 24) (38.2) (30.3)

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Total finance income (40.1) (32.8)

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Net finance costs 42.8 39.5

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