Cash Flow Statement
For the year ended 27 March 2010
Notes |
2010 £m |
2009 £m |
|
| Cash flows from operating activities | |||
| Profit before tax | 96.6 | 96.1 | |
| Adjustments for: | |||
| Finance income and expense | 11.4 | 0.4 | |
| Depreciation and amortisation | 23.0 | 21.3 | |
| Decrease/(increase) in inventory | 4.3 | (0.1) | |
| Decrease/(increase) in trade and other receivables | 16.6 | (30.4) | |
| (Decrease)/increase in trade and other payables | (9.9) | 17.5 | |
| (Decrease)/increase in reorganisation provisions | (5.0) | 4.4 | |
| Special pension fund contributions | (17.0) | (27.0) | |
| Loss/(profit) on disposal of property, plant and equipment | 0.9 | (0.1) | |
| Share of income from associates after tax | (6.3) | (8.9) | |
| Other non-cash movements | 1.5 | (3.8) | |
| Cash generated from continuing operations | 116.1 | 69.4 | |
| Cash generated from discontinued operations | 22 | - | (2.2) |
| Tax paid – continuing operations | (21.0) | (20.5) | |
| Tax paid – discontinued operations | 22 | - | (10.0) |
| Net cash flows from operating activities | 95.1 | 36.7 | |
| Cash flows from investing activities | |||
| Disposal of subsidiary undertakings | 22 | (1.0) | 333.7 |
| Purchases of property, plant and equipment (PPE) & software intangibles – continuing operations | (33.1) | (29.3) | |
| Purchases of property, plant and equipment (PPE) & software intangibles – discontinued operations | 22 | - | (0.7) |
| Development assets capitalised – continuing operations | (2.3) | (3.3) | |
| Development assets capitalised – discontinued operations | 22 | - | (1.1) |
| Proceeds from sale of PPE | 0.5 | 0.5 | |
| Loans made to associates | (0.6) | - | |
| Dividends received from associates | 6.8 | 10.3 | |
| Net cash flows from investing activities | (29.7) | 310.1 | |
| Net cash inflow before financing activities | 65.4 | 346.8 | |
| Cash flows from financing activities | |||
| Proceeds from issue of share capital | 2.4 | 7.0 | |
| Return of capital | - | (119.3) | |
| (Repayment of)/proceeds from borrowings | (32.9) | 77.6 | |
| Finance lease principal payments | (3.1) | (3.9) | |
| Interest received | 0.4 | 7.6 | |
| Interest paid | (3.7) | (4.1) | |
| Dividends paid to shareholders | (40.4) | (376.7) | |
| Dividends paid to minority interests | (0.2) | (0.5) | |
| Net cash flows from financing activities | (77.5) | (412.3) | |
| Net decrease in cash and cash equivalents in the year | (12.1) | (65.5) | |
| Cash and cash equivalents at the beginning of the year | 50.1 | 116.7 | |
| Exchange rate effects | (0.2) | (1.1) | |
| Cash and cash equivalents at the end of the year | 37.8 | 50.1 | |
| Cash and cash equivalents consist of: | |||
| Cash at bank and in hand | 16 | 35.1 | 43.4 |
| Short term bank deposits | 16 | 6.5 | 15.1 |
| Bank overdrafts | (3.8) | (8.4) | |
| 22 | 37.8 | 50.1 |
The accompanying Notes [PDF, 204KB] form Notes to the Accounts.
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