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| Year to 31 August 1999 | Year to 31 August 1998 |
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| Continuing operations £m |
Discontinued operations £m |
Total £m |
Total £m |
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| Net cash inflow from operating activities | 349 | 202 | 551 | 670 | |
| Dividends received from associated undertakings | 12 | – | 12 | 12 | |
| Returns on investments and servicing of finance | (391) | – | (391) | (239) | |
| Taxation paid | (116) | (45) | (161) | (141) | |
| Capital expenditure and financial investment | (51) | (100) | (151) | (145) | |
| Acquisitions and disposals | 483 | (7) | 476 | (226) | |
| Equity dividends paid | (320) | – | (320) | (258) | |
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| Cash inflow/(outflow) before use of liquid resources and financing | (34) | 50 | 16 | (327) | |
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| Issue of ordinary share capital | 112 | 25 | |||
| Redemption of preference shares | (11) | – | |||
| Non-cash movements on recourse finance | (6) | 9 | |||
| Exchange adjustments | (25) | 34 | |||
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| Decrease/(increase) in net debt | 86 | (259) | |||
| Opening net debt | (1,401) | (1,142) | |||
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| Closing net debt | (1,315) | (1,401) | |||
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