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Unaudited Condensed Consolidated Statement of Cash Flows
€ in Millions, £ in Millions, $ in Millions
 6 Months Ended
Dec. 31, 2022
GBP (£)
Dec. 31, 2021
GBP (£)
Cash flows from operating activities    
Profit for the period £ 2,407 £ 2,088
Taxation 650 634
Share of after tax results of associates and joint ventures (172) (190)
Net finance charges 292 180
Non-operating items (16) 31
Operating profit 3,161 2,743
Increase in inventories (468) (187)
Increase in trade and other receivables (1,008) (976)
Increase in trade and other payables and provisions 111 653
Net increase in working capital (1,365) (510)
Depreciation, amortisation and impairment 281 224
Dividends received 5 1
Post employment payments less amounts included in operating profit (23) (23)
Other items 7 34
Adjustments to reconcile profit (loss), Total 270 236
Cash generated from operations 2,066 2,469
Interest received 66 41
Interest paid (248) (185)
Taxation paid (636) (378)
Interest and income taxes paid (received), classified as operating activities (818) (522)
Net cash inflow from operating activities 1,248 1,947
Cash flows from investing activities    
Disposal of property, plant and equipment and computer software 6 7
Purchase of property, plant and equipment and computer software 435 382
Movements in loans and other investments (2) 3
Sale of businesses and brands 99 2
Acquisition of subsidiaries(1) (113) (110)
Investment in associates and joint ventures(1) (31) (24)
Net cash outflow from investing activities (476) (504)
Cash flows from financing activities    
Share buyback programme (554) (538)
Net sale of own shares for share schemes 9 42
Purchase of treasury shares in respect of subsidiaries 0 (13)
Dividends paid to non-controlling interests (79) (51)
Proceeds from bonds 1,788 0
Repayment of bonds (254) (769)
Cash inflow from other borrowings 144 136
Cash outflow from other borrowings (172) (98)
Equity dividends paid (1,065) (1,040)
Net cash outflow from financing activities (183) (2,331)
Net increase/(decrease) in net cash and cash equivalents 589 (888)
Exchange differences (63) 14
Reclassification to assets held for sale (47) 0
Net cash and cash equivalents at beginning of the period 2,211 2,637
Net cash and cash equivalents at end of the period 2,690 1,763
Net cash and cash equivalents consist of:    
Cash and cash equivalents 2,766 1,780
Bank overdrafts (76) (17)
Net cash and cash equivalents £ 2,690 £ 1,763