Consolidated Cash Flow Statement

For the year ended 31st March

	Notes	2006 € m	2005 € m
Cash flows operating activities
Cash flow generated from operations	27	774	481
Interest income		37	57
Interest paid		(35)	(20)
Dividends from associated undertaking		247	235
Taxation paid		(85)	(79)
Net cash generated from operating activities		938	674

Cash flows from investing activities
Acquisition of subsidiary undertakings, net of cash acquired	29	(7)	(1)
Proceeds from disposal of subsidiary undertakings	29	15	-
Acquisitation of property, plant and equipment		(210)	(160)
Proceeds from disposal of property, plant and equipment		44	41
Acquisition of intangible assets		(24)	(8)
Proceeds from disposal of intangible assets		1	-
Proceeds from disposal of preference shares of associated undertaking		-	828
Proceeds from partial disposal of share of associated undertaking		-	179
Acquisition of other non-current assets		(39)	(23)
Proceeds from disposal of other non-current assets		27	19
Net cash (used in)/generated from investing activities		(193)	875

Cash flows from financing activities
Net repayment of borrowings		(39)	(223)
Dividends paid		(553)	(219)
Payment for treasury units		-	(25)
Proceeds from sale of treasury units		90	69
Capital element of finance lease payments		(4)	(4)
Net cash used in financing activities		(506)	(402)

Net increase in cash and cash equivalents		239	1147
Cash and cash equivalents at beginning of year		1183	6
Exchange (losses)/gains on cash and cash equivalents		(6)	30
Cash and cash equivalents at end of year	15	1416	1183