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Consolidated statement of cash flows - GBP (£)
£ in Millions
 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities      
Profit for the year £ 2,799 £ 1,454 £ 3,337
Taxation 907 589 898
Share of after tax results of associates and joint ventures (334) (282) (312)
Net finance charges 373 353 263
Non-operating items (14) 23 (144)
Operating profit 3,731 2,137 4,042
Increase in inventories (443) (366) (434)
(Increase)/decrease in trade and other receivables (446) 523 11
Increase/(decrease) in trade and other payables and provisions 1,220 (485) 201
Net decrease/(increase) in working capital 331 (328) (222)
Depreciation, amortisation and impairment 447 1,839 374
Dividends received 290 4 168
Post employment payments less amounts included in operating profit (30) (109) (121)
Other items 88 (14) 64
Adjustments to reconcile profit (loss), Total 795 1,720 485
Cash generated from operations 4,857 3,529 4,305
Interest received 89 185 216
Interest paid (440) (493) (468)
Taxation paid (852) (901) (805)
Interest and income taxes paid (received), classified as operating activities (1,203) (1,209) (1,057)
Net cash inflow from operating activities 3,654 2,320 3,248
Cash flows from investing activities      
Disposal of property, plant and equipment and computer software 13 14 32
Purchase of property, plant and equipment and computer software (626) (700) (671)
Movements in loans and other investments (4) 0 (1)
Sale of businesses and brands 14 11 426
Acquisition of businesses (488) (130) (56)
Net cash outflow from investing activities (1,091) (805) (270)
Cash flows from financing activities      
Share buyback programme (109) (1,282) (2,775)
Proceeds from issue of share capital 0 1 1
Net sale of own shares for share schemes 49 54 50
Dividends paid to non-controlling interests (77) (111) (112)
Proceeds from bonds 1,031 5,188 2,766
Repayment of bonds (1,247) (820) (1,168)
Purchase of shares of non-controlling interests (42) (62) (784)
Net movements in other borrowings (753) (285) 721
Equity dividends paid (1,646) (1,646) (1,623)
Net cash (outflow)/inflow from financing activities (2,794) 1,037 (2,924)
Net (decrease)/increase in net cash and cash equivalents (231) 2,552 54
Exchange differences (285) (120) (26)
Net cash and cash equivalents at beginning of the year 3,153 721 693
Net cash and cash equivalents at end of the year 2,637 3,153 721
Net cash and cash equivalents consist of:      
Cash and cash equivalents 2,749 3,323 932
Bank overdrafts £ (112) £ (170) £ (211)