Preliminary results for the 52 weeks ended 2 February 2008
Notes to the financial information
For the financial year ended 2 February 2008
11. Net debt
| £ millions | 2007/08 | 2006/07 |
|---|---|---|
| Cash and cash equivalents | 218 | 395 |
| Bank overdrafts | (23) | (150) |
| Cash and cash equivalents and bank overdrafts | 195 | 245 |
| Current other investments | 11 | 28 |
| Bank loans | (283) | (146) |
| Medium Term Notes and other fixed term debt | (1,436) | (1,307) |
| Interest rate and cross currency swaps (excluding accrued interest) | 23 | (44) |
| Finance leases | (69) | (70) |
| Net debt | (1,559) | (1,294) |
| £ millions | 2007/08 | 2006/07 |
|---|---|---|
| Net debt at beginning of year | (1,294) | (1,355) |
| Net (decrease)/increase in cash and cash equivalents and bank overdrafts | (56) | 135 |
| Net (disposal)/purchase of other investments | (21) | 29 |
| Net (receipt)/repayment of bank loans | (136) | 133 |
| Issue of Medium Term Notes and other fixed term debt | - | (252) |
| Capital element of finance lease rental payments | 11 | 12 |
| Exchange differences and other non-cash movements | (63) | 4 |
| Net debt at end of year | (1,559) | (1,294) |
