| Notes 4-6 |
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4. RECONCILIATION TO NORMALISED EARNINGS
|
| 1996/97 |
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1997/98 |
1996/97 |
| 12 months |
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|
6 months |
6 months |
| £m |
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£m |
£m |
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| 401 |
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Earnings as reported |
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|
220 |
202 |
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Adjustments net of tax and minorities : |
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| 5 |
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Disposal of fixed assets in continuing operations |
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2 |
0 |
| 406 |
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Normalised earnings |
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222 |
202 |
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| 1,039 |
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Average number of ordinary shares in issue (millions) |
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1,041 |
1,038 |
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5. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
|
| 1996/97 |
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1997/98 |
1996/97 |
| 12 months |
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6 months |
6 months |
| £m |
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£m |
£m |
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| 402 |
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Profit earned for ordinary and preference shareholders for the period |
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220 |
202 |
| (119) |
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Currency translation differences on foreign currency net investments |
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(36) |
(90) |
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| 283 |
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Total recognised gains and losses for the period |
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184 |
112 |
| (254) |
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Dividends (ordinary and preference) |
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(103) |
(98) |
| 7 |
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New share capital issued (net of costs) |
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8 |
4 |
| (2) |
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Goodwill written back on disposals |
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0 |
0 |
| (41) |
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Goodwill written off |
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0 |
(1) |
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| (7) |
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Net movement in shareholders' funds |
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89 |
17 |
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6. RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW FROM OPERATING ACTIVITIES
|
| 1996/97 |
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1997/98 |
1996/97 |
| 12 months |
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6 months |
6 months |
| £m |
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£m |
£m |
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| 690 |
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Operating profit |
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365 |
365 |
| 114 |
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Depreciation |
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58 |
61 |
| (47) |
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Release of provision for uneconomic beer supply |
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(15) |
(23) |
| (5) |
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Increase in stocks |
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(28) |
(30) |
| (89) |
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Decrease/(increase) in debtors |
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4 |
(21) |
| 57 |
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(Decrease)/increase in creditors |
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(122) |
(65) |
| (48) |
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Expenditure against provisions for : |
acquisition |
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(10) |
(14) |
| (10) |
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reorganisation and restructuring |
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(10) |
(4) |
| (15) |
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Other items |
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(5) |
(1) |
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| 647 |
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Net cash inflow from operating activities |
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237 |
268 |
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