Notes to the accounts

**25 Reconciliation of net cash flow to movement in net debt**
	2004 £m	2003 £m
Increase/(decrease) in cash in the year	2.6	(5.6)
(Increase)/decrease in loans	(1.5)	22.0
Change in net debt resulting from cash flows	1.1	16.4
Other non-cash items:
Exchange movements	3.4	(2.3)
Movement in net debt in the year	4.5	14.1
Net debt at 1 January	(163.4)	(177.5)
Net debt at 31 December	(158.9)	(163.4)

Skip Links