Response to the following problem:
Tesco's cash Tesco's 2006 OFR contains the following comment concerning its cash flows:
The Group generated net cash of £165m during the year, benefiting from strong cash flow from operating activities of £3.4bn and the net proceeds of £346m from our property joint venture with Concensus. Within this, £239m of cash was released from working capital, which was £199m lower than last year. This was mainly due to a smaller rise in trade creditors [payables] than last year (last year's increase was exceptionally large and the change in International year end reduced trade creditors), higher non-food stocks (linked to global sourcing) and increased debtors (resulting from advance rent on new leasehold stores in Korea).