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                           C H Bailey Plc
                Group Cash Flow Statement
           for the year ended 31st March 2004
2004 2003
Net cash (outflow) from operating activities (908,655) (173,316)
Return on investments and servicing of finance:
Interest received 25,752 37,754
Interest paid (107,911) (74,616)
Net cash (outflow) from returns on investments
and servicing of finance (82,159) (36,862)
Taxation (5,068) (5,303)
Capital expenditure and financial investment:
Purchase of tangible fixed assets (371,715) (524,378)
Sale of tangible fixed assets - 3,290
   
Net cash (outflow) from capital expenditure and
financial investment (371,715) (521,088)
 
Cash (outflow) before use of liquid resources
and financing (1,367,597) (736,569)
Equity dividends paid -
Management of liquid rescources:
Purchase of investments (3,438,531) (1,615,525)
Sale of investments 3,740,195 2,466,067
Net (increase) decrease in short term deposits (485,032) 279,790
 
Net cash(outflow) inflow from management of liquid
resources (183,368) 1,130,332
Financing
(Decrease) in other loans due within one year (96,121) (60,362)
Increase in bank loans due after more than one year 160,877 240,291
Net cash inflow (outflow) from financing 64,756 179,929
   
(Decrease)  increase in cash in the period (1,486,209) 573,692
 
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