Consolidated cashflow statements

For the four years to 31 March 2010

Cashflow statements		Restated
	Year ended	Year ended	Year ended	Re-presented year ended
	31 March 2010	31 March 2009*	31 March 2008	31 March 2007**
	£m	£m	£m	£m
Operating activities
Cash generated from/(used in) operations	1,015.7	911.4	876.9	810.8
Interest paid	-225.5	-232.3	-299.9	-341.8
Interest received and similar income	12.4	90.4	119.1	99.8
Tax (paid)/received	-0.6	-32.8	-98.6	-17.8
Net cash generated from/(used in) operating activities (continuing operations)	802.0	736.7	597.5	551.0
Net cash used in operating activities (discontinued operations)	-	-	99.5	204.3
	802.0	736.7	697.0	755.3
Investing activities
Acquisition of subsidiaries (net of cash and cash equivalents acquired)		-	0.6	-
Disposal of associated company	-	-	75.8	-
Disposal of subsidiaries	-	-	1,152.7	206.4
Net cash outflow from group reorganisation	-	-	-15.0	-
Purchase of investments	-0.8	-	-	-
Purchase of property, plant and equipment	-543.2	-668.2	-644.5	-548.5
Purchase of other intangible assets	-34.4	-45.9	-25.3	-5.0
Proceeds from sale of property, plant and equpment	4.4	3.8	15.0	27.0
Financial restructuring of joint ventures		-	-	-
Evaluation and disposal costs relating to non-regulated business	-10.8	-	-	-
Net cash used in investing activities (continuing operations)	-452.7	-710.3	559.3	-320.1
Net cash used in investing activities (discontinued operations)	-	-	-161.0	-125.1
		-710.3	398.3	-445.2
Financing activities
Proceeds from issue of ordinary shares	0.2	1.6	9.2	18.5
Proceeds from structured financing	-	-163.9	-170.1	81.4
Proceeds from borrowings	272.9	3,784.7	1,068.9	1,600.8
Repayment of borrowings	-348.4	-3310.9	-2.297.2	-821.0
Dividends paid to equity holders of the company	-226.2	-349.9	-404.4	-387.3
Return to shareholders on capital reorganisation	-16.7	-1482.3	-	-
Dividends received from discontinued operations	-	-	100.0	36.0
Net cash generated from/(used in) financing activities (continuing operations)	-318.2	-1,520.7	-1,689.6	528.4
Net cash generated from/(used in) financing activities (discontinued operations)	-	-	-190.1	51.9
	-318.2	-1,520.7	-1,879.7	580.3
Effects of exchange rate changes	13.5	-1.8	148.9	6.4
Net increase/(decrease) in cash and cash equivalents (continuing operations)	44.6	-1,496.1	-383.9	765.7
Net decrease in cash and cash equivalents (discontinued operations)	-	-	-251.6	131.1
Cash and cash equivalents at beginning of the year	209.1	1,705.2	2,340.7	1,443.9
Cash and cash equivalents at end of the year	253.7	209.1	1,705.2	2,340.7

* In 2009/10, the group adopted IFRIC 12 'Service Concession Arrangements' and the amendments to IAS 1 arising from the 'Improvements to IFRS' project. The consolidated statement of cashflows for the year ended 31 March 2009 has been restated accordingly.

** The accounts for the year ended 31 March 2007 have been re-presented to include the contribution from United Utilities Electricity, facilities management operations, industrial liquid waste operations and telecoms as discontinued operations