BOC Report and accounts 2005 - Alle jaarverslagen

More documents

Recommendations

Info

88 The BOC Group plc Annual report and accounts 2005 Group cash flow statement Years ended 30 September 2005 2004 2003 Notes £ million £ million £ million Net cash inflow from operating activities 27(a) 665.5 758.5 700.1 Dividends from joint ventures and associates Dividends from joint ventures 47.8 69.0 31.7 Dividends from associates 3.3 10.1 3.3 Dividends from joint ventures and associates 51.1 79.1 35.0 Returns on investments and servicing of finance Interest paid (83.5) (83.3) (94.4) Interest received 18.6 13.9 16.6 Dividends paid to minorities in subsidiaries (66.4) (19.3) (12.4) Interest element of finance lease rental payments (0.3) (2.5) (4.2) Returns on investments and servicing of finance (131.6) (91.2) (94.4) Tax paid (118.4) (98.2) (90.7) Capital expenditure and financial investment Purchases of tangible fixed assets (353.0) (244.6) (281.4) Sales of tangible fixed assets 22.6 39.7 37.0 Purchases of intangible fixed assets (0.6) (0.2) (1.2) Net sales/(purchases) of current asset investments 4.7 (0.9) 16.6 Purchases of trade and other investments (3.4) (3.8) (3.3) Sales of trade and other investments 30.0 5.6 5.3 Capital expenditure and financial investment (299.7) (204.2) (227.0) Acquisitions and disposals Acquisitions of businesses 28(a) (57.1) (50.9) (135.5) Net cash acquired with subsidiaries 2.3 2.8 – Disposals of businesses 28(a) 224.1 98.3 3.9 Net cash disposed of with subsidiaries (23.3) – (0.1) Receipts from capital restructuring of joint ventures 1 17.0 53.0 – Investments in joint ventures (8.4) (12.9) – Divestments/repayments from joint ventures – – 12.4 Investments in associates (37.1) (3.9) (8.4) Divestments/repayments from associates 11.3 6.1 9.4 Acquisitions and disposals 128.8 92.5 (118.3) Equity dividends paid (204.1) (197.3) (192.1) Net cash inflow before use of liquid resources and financing 91.6 339.2 12.6 Management of liquid resources Net sales/(purchases) of short-term investments 14.3 (20.8) 16.2 Financing Issue of shares 2 9.6 12.4 (2.6) Decrease in debt 27(d) (165.7) (180.7) (128.7) Net cash outflow from financing (156.1) (168.3) (131.3) (Decrease)/increase in cash (50.2) 150.1 (102.5) 1. Receipts from capital restructuring of joint ventures relates to amounts received from Japan Air Gases Ltd.This has no impact on BOC’s effective shareholding. 2. Issue of shares in 2005 is net of an outflow of £18.8 million for the 10 per cent buy back of shares in African Oxygen Limited relating to minority shareholders.This has no impact on BOC’s effective shareholding. A reconciliation of the movement in cash to the movement in net debt in the year is given in note 27(b). Liquid resources are defined as short-term deposits.
Total recognised gains and losses Years ended 30 September 89 2005 2004 2003 Notes £ million £ million £ million Parent 1 24(b) 298.4 11.4 218.6 Subsidiary undertakings 57.4 269.8 (0.4) Joint ventures 6.8 (13.1) (0.2) Associates 4.4 (4.1) 1.1 Profit for the financial year 367.0 264.0 219.1 Actuarial loss recognised on the pension schemes (12.4) (2.2) (17.5) Movement on deferred tax relating to actuarial loss on pensions (6.7) (8.1) 2.0 Movement on current tax relating to actuarial loss on pensions 8.4 3.2 – Unrealised profit on disposal of a subsidiary – – 8.2 Exchange translation effect on: – results for the year of subsidiaries 7.6 0.2 8.0 – results for the year of joint ventures 1.4 (0.7) 0.2 – results for the year of associates 0.4 (0.1) (0.2) – foreign currency net investments in subsidiaries 64.7 (76.1) 15.3 – foreign currency net investments in joint ventures 6.0 (21.5) 9.6 – foreign currency net investments in associates 0.7 (2.8) (1.4) Total recognised gains and losses for the financial year 24(a) 437.1 155.9 243.3 1. In accordance with the concession granted under the Companies Act 1985, the profit and loss account of The BOC Group plc has not been presented separately in these financial statements. 2. There were no material differences between reported profits and losses and historical cost profits and losses on ordinary activities before tax for 2005, 2004 and 2003. 3. Profit attributable to the parent company includes dividends received from subsidiaries, joint ventures and associates, often through intermediate holding companies.These dividends may include the distribution of earnings of previous periods.As a result, the relationship of profit between parent, subsidiaries, joint ventures and associates may show fluctuations from year to year. 4. Excluding the amounts recognised above, a current tax charge of £(5.8) million (2004: £6.7 million credit, 2003: £9.7 million credit) has been recognised directly in the Group reserves. Movement in shareholders’ funds Years ended 30 September 2005 2004 2003 £ million £ million £ million Profit for the financial year 367.0 264.0 219.1 Dividends (204.1) (197.3) (192.1) 162.9 66.7 27.0 Other recognised gains and losses 70.1 (108.1) 24.2 Reversal of goodwill in total recognised gains and losses on disposal of subsidiaries 1.0 15.3 (4.2) Shares issued 32.6 8.7 3.7 Consideration paid for the purchase of own shares held in an ESOP trust (8.2) – (7.5) Consideration received for the sale of own shares held in an ESOP trust 4.0 2.5 1.2 Credit in respect of employee share schemes 4.3 3.5 0.7 Net increase/(decrease) in shareholders’ funds for the financial year 266.7 (11.4) 45.1 Shareholders’ funds at 1 October 1,675.3 1,686.7 1,641.6 Shareholders’ funds at 30 September 1,942.0 1,675.3 1,686.7
Page 1 and 2:
BOC Report and accounts 2005
Page 3 and 4:
01 The BOC Group plc is a public li
Page 5 and 6:
Financial highlights 03 Dividends p
Page 7 and 8:
Chairman’s statement 05 Conduct a
Page 9 and 10:
Chief executive’s review 07 Indus
Page 11 and 12:
Board of directors 09 08 09 10 11 1
Page 13 and 14:
Executive management board 11 09 10
Page 15 and 16:
Group five year record 13 Capital e
Page 17 and 18:
Group profile 15 Analysis of result
Page 19 and 20:
Group profile 17 Principal industri
Page 21 and 22:
Group profile 19 In China, signific
Page 23 and 24:
Group profile 21 Sales opportunitie
Page 25 and 26:
Employees 23 At 30 September 2005 t
Page 27 and 28:
Employees 25 Retirement benefit pla
Page 29 and 30:
Social, environmental and ethical p
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40: Research, development and informati
Page 41 and 42: Risk factors 39 BOC relies on devel
Page 43 and 44: Operating review 41 Exceptional ite
Page 45 and 46: Operating review (comparing 2005 wi
Page 57 and 58: Financial review 55 Net debt/equity
Page 59 and 60: Financial review 57 The balance she
Page 61 and 62: Financial review 59 Manganese litig
Page 63 and 64: Financial review 61 Current asset p
Page 65 and 66: Financial review 63 Average exchang
Page 67 and 68: Corporate governance 65 During the
Page 69 and 70: Corporate governance 67 Performance
Page 71 and 72: Corporate governance 69 During the
Page 73 and 74: Corporate governance 71 There is a
Page 75 and 76: Report on remuneration 73 Variable
Page 77 and 78: Report on remuneration 75 Current m
Page 79 and 80: Report on remuneration 77 Individua
Page 81 and 82: Report on remuneration 79 Executive
Page 83 and 84: Report on remuneration 81 Opening m
Page 85 and 86: Report on remuneration 83 Mr Médor
Page 87 and 88: Report by the independent auditors
Page 89: Group balance sheet At 30 September
Page 93 and 94: Accounting policies 91 General •
Page 95 and 96: Notes to the financial statements 9
Page 141 and 142:
Group undertakings 139 Principal Gr
Page 143 and 144:
Shareholder information 141 The tab
Page 145 and 146:
Shareholder information 143 Taxatio
Page 147 and 148:
Shareholder information 145 Payment
Page 149 and 150:
Glossary of terms 147 Terms used in
Page 151 and 152:
©The BOC Group plc 2005. Designed
show all

BOC Report and accounts 2005 - Alle jaarverslagen

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?