v3.25.2
Cash flow (Tables)
 6 Months Ended
Jun. 30, 2025
Disclosure Of Cash Flow [Abstract]  
Schedule of cash flows from operating activities Net cash generated from operating activities in the IFRS cash flows on page 21 includes the following items:
Six months ended
30 June
2025
2024
£m
£m
Profit for the period
4,565
4,559
Taxation on ordinary activities
1,009
1,041
Share of post-tax results of associates and joint ventures
(1,474)
(1,647)
Net finance costs
969
305
Profit from operations
5,069
4,258
Adjustments for:
– depreciation, amortisation and impairment costs
1,192
1,620
– increase in inventories
(696)
(606)
– increase in trade and other receivables
(1)
(268)
– decrease in Master Settlement Agreement payable
(633)
(868)
– (decrease)/increase in trade and other payables
(565)
321
– decrease in retirement benefit liabilities
(27)
(17)
– decrease in other provisions for liabilities
(634)
(302)
– other non-cash items
12
(16)
Cash generated from operating activities
3,717
4,122
Dividends received from associates
168
196
Tax paid
(1,576)
(1,153)
Net cash generated from operating activities
2,309
3,165