v3.26.1
Cash flow (Tables)
 6 Months Ended
Jun. 30, 2026
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 22 includes the following items:
Six months ended
30 June
2026
2025
£m
£m
Profit for the period
3,228
4,565
Taxation on ordinary activities
824
1,009
Share of post-tax results of associates and joint ventures
(189)
(1,474)
Net finance costs
403
969
Profit from operations
4,266
5,069
Adjustments for:
– depreciation, amortisation and impairment costs
1,364
1,192
– increase in inventories
(448)
(696)
– increase in trade and other receivables
(102)
(1)
– decrease in Master Settlement Agreement payable
(571)
(633)
– decrease in trade and other payables
(160)
(565)
– decrease in retirement benefit liabilities
(15)
(27)
– decrease in other provisions for liabilities
(70)
(634)
– other non-cash items
223
12
Cash generated from operating activities
4,487
3,717
Dividends received from associates
139
168
Tax paid
(1,224)
(1,576)
Net cash generated from operating activities
3,402
2,309