Cash flow
Consolidated Cash Flow Statements for the years ended 31 March
| |
2011
£m |
2010
£m |
2009
£m |
2008
£m |
2007
£m |
| Continuing operations |
|
|
|
|
|
| Profit for the year |
72.6 |
77.3 |
84.2 |
68.6 |
54.9 |
| Adjustments for: |
|
|
|
|
|
| Income tax |
18.4 |
19.3 |
18.5 |
23.3 |
15.2 |
| Finance income |
(3.9) |
(3.8) |
(6.7) |
(9.8) |
(9.0) |
| Finance cost |
18.0 |
18.4 |
9.8 |
5.5 |
5.4 |
| Share of post-tax loss / (profits) from joint ventures |
1.9 |
1.9 |
(0.2) |
(0.9) |
(2.8) |
| Other non-cash / costs |
5.1 |
0.1 |
– |
– |
– |
| Profit on disposal of joint ventures |
– |
(0.1) |
(2.5) |
– |
– |
| Depreciation charges |
15.9 |
15.3 |
20.7 |
19.3 |
18.8 |
| Amortisation charges |
8.3 |
7.5 |
12.7 |
11.1 |
11.6 |
| Release of deferred income |
(0.3) |
(0.2) |
(0.1) |
(3.0) |
(0.2) |
| Share-based payment charge |
5.7 |
6.8 |
8.9 |
8.6 |
5.1 |
| Pensions settlement and curtailment gain |
– |
(6.7) |
– |
– |
– |
| Result on disposal of property, plant and equipment |
0.2 |
1.4 |
0.7 |
0.1 |
(0.1) |
| Movement in provisions |
(3.8) |
(5.9) |
9.2 |
(5.5) |
8.5 |
| Working capital movements |
(69.6) |
(4.8) |
(29.7) |
(36.4) |
(13.5) |
| Cash generated from continuing operations |
68.5 |
126.5 |
125.5 |
80.9 |
93.9 |
| |
|
|
|
|
|
| Discontinued operations |
|
|
|
|
|
| Cash generated from discontinued operations |
– |
– |
– |
0.3 |
10.8 |
| |
|
|
|
|
|
| Cash generated from operations |
68.5 |
126.5 |
125.5 |
81.2 |
104.7 |
| Interest received |
3.1 |
3.4 |
6.3 |
9.7 |
8.9 |
| Interest paid |
(2.4) |
(1.1) |
(2.2) |
(3.3) |
(2.1) |
| Income tax (paid)/received |
(12.3) |
(18.0) |
(12.8) |
(14.7) |
4.9 |
| Net cash generated from operating activities |
56.9 |
110.8 |
116.8 |
72.9 |
116.4 |
| |
|
|
|
|
|
| Cash flows from investing activities |
(196.5) |
(21.1) |
(32.8) |
(27.2) |
(78.0) |
| |
|
|
|
|
|
| Cash flows from financing activities |
7.3 |
(40.5) |
(45.8) |
(78.3) |
(25.9) |
| Net (decrease) / increase in cash, cash equivalents and bank overdrafts |
(132.3) |
49.2 |
38.2 |
(32.6) |
12.5 |
| |
|
|
|
|
|
| Cash, cash equivalents and bank overdrafts at beginning of year |
260.3 |
209.7 |
154.5 |
187.7 |
177.4 |
| |
|
|
|
|
|
| Effect of exchange rate changes |
(6.5) |
1.4 |
17.0 |
(0.6) |
(2.2) |
| Cash, cash equivalents and bank overdrafts at end of year |
121.5 |
260.3 |
209.7 |
154.5 |
187.7 |
| |
|
|
|
|
|
| Financial assets |
34.7 |
32.4 |
28.7 |
29.7 |
49.6 |
| Loan notes receivable |
20.1 |
21.2 |
12.9 |
5.6 |
– |
| Borrowings due within one year |
(46.3) |
(0.7) |
(2.8) |
(4.2) |
(0.4) |
| Borrowings due after one year |
– |
– |
(0.6) |
(3.2) |
(23.1) |
| Finance leases |
(6.7) |
(10.7) |
(13.7) |
(14.0) |
(14.7) |
| Net funds |
123.3 |
302.5 |
234.2 |
168.4 |
199.1 |