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Consolidated Cash Flow Statement
For the year ended 31 December 2008
| Notes | 2008 £m |
2007 £m |
|
| Cash flows from operating activities | |||
| Cash generated from operations | 25 | 328 | 299 |
| Interest received | 18 | 16 | |
| Interest paid | (66) | (60) | |
| Tax paid | (45) | (28) | |
| Dividends received from joint ventures | 24 | 13 | |
| 259 | 240 | ||
| Cash flows from investing activities | |||
| Purchase of property, plant and equipment | (192) | (172) | |
| Purchase of intangible assets | (13) | (20) | |
| Receipts of government capital grants | 1 | — | |
| Proceeds from sale of fixed assets | 7 | 21 | |
| Acquisition of subsidiaries (net of cash acquired) | (1) | (71) | |
| Proceeds from sale of joint venture — discontinued | 6 | 18 | — |
| Investment in joint ventures | (1) | — | |
| Investment loans and capital contributions | 1 | 7 | |
| (180) | (235) | ||
| Cash flows from financing activities | |||
| Net proceeds from ordinary share capital transactions | 22 | 1 | 5 |
| Net proceeds from borrowing facilities | 112 | 13 | |
| Finance lease payments | (9) | (1) | |
| Repayment of borrowings | (33) | (5) | |
| Settlement of forward foreign currency contracts for net investment hedging | (230) | (12) | |
| Dividends paid to shareholders | 8 | (97) | (91) |
| Dividends paid to minority interests | (3) | (1) | |
| (259) | (92) | ||
| Currency variations on cash and cash equivalents | 24 | 9 | |
| Movement in cash and cash equivalents | (156) | (78) | |
| Cash and cash equivalents at 1 January | 250 | 328 | |
| Cash and cash equivalents at 31 December | 25 | 94 | 250 |
