Consolidated Cash Flow Statement
for the year ended 31 December 2009
| Note | 2009 £m |
2008 £m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Operating profit from continuing operations | 77.3 | 119.4 | |
| Operating loss from discontinued operation | – | (2.7) | |
| 77.3 | 116.7 | ||
| Depreciation of property, plant and equipment | 34.4 | 24.2 | |
| Amortisation of intangible assets | 1.5 | 0.7 | |
| (Profit)/loss on sale of property, plant and equipment | (1.2) | 0.3 | |
| Other non-cash movements | 0.5 | 1.3 | |
| Foreign exchange gains | (0.1) | (1.2) | |
| Operating cash flows before movements in working capital | 112.4 | 142.0 | |
| Decrease/(increase) in inventories | 10.2 | (12.4) | |
| Decrease in trade and other receivables | 50.2 | 0.1 | |
| (Decrease)/increase in trade and other payables | (52.5) | 11.0 | |
| Change in provisions, retirement benefit and other non-current liabilities | 2.9 | (2.3) | |
| Cash generated from operations | 123.2 | 138.4 | |
| Interest paid | (4.8) | (4.7) | |
| Income tax paid | (30.0) | (27.9) | |
| Net cash inflow from operating activities | 88.4 | 105.8 | |
| Cash flows from investing activities | |||
| Interest received | 0.3 | 0.6 | |
| Proceeds from sale of property, plant and equipment | 4.5 | 3.0 | |
| Acquisition of subsidiaries, net of cash acquired | (34.7) | (14.1) | |
| Acquisition of property, plant and equipment | (39.3) | (68.2) | |
| Acquisition of intangible assets | (0.7) | (1.4) | |
| Acquisition of other non-current assets | (0.8) | (1.7) | |
| Net cash outflow from investing activities | (70.7) | (81.8) | |
| Cash flows from financing activities | |||
| Proceeds from the issue of share capital | 0.4 | – | |
| Repurchase of own shares | (1.6) | (17.5) | |
| New borrowings | 7.0 | 25.3 | |
| Repayment of borrowings | (12.7) | (6.6) | |
| Payment of finance lease liabilities | (5.6) | (2.0) | |
| Dividends paid | (17.4) | (15.9) | |
| Net cash outflow from financing activities | (29.9) | (16.7) | |
| Net (decrease)/increase in cash and cash equivalents | (12.2) | 7.3 | |
| Cash and cash equivalents at beginning of period | 46.5 | 26.1 | |
| Effect of exchange rate fluctuations | (5.0) | 13.1 | |
| Cash and cash equivalents at end of period | 20 | 29.3 | 46.5 |
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