12 Summarised Cash Flow Statement 6 months to 30 September2005 £m 2004 £m Profit before franchise costs Depreciation and share-based charges Franchise indebtedness(1.8)(0.2) Working capital(1.4)(2.8) Tax(2.6)(2.5) Operating activities Capital expenditure(5.7)(4.5) Dividends and financing(6.9)(6.7) Net cash flow(7.6)(5.5)
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