| Note | 2008 £m |
Restated 2007 £m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before tax | 95.4 | 87.2 | |
| Depreciation and other amortisation | 26.7 | 27.0 | |
| Equity-settled transactions | 1.1 | 2.7 | |
| Finance income and expense | 7.3 | 5.9 | |
| Operating cash flow before changes in working capital, interest and taxes | 130.5 | 122.8 | |
| Decrease (increase) in inventories | 7.4 | (5.8) | |
| Decrease (increase) in trade and other receivables | 0.5 | (10.2) | |
| Decrease in trade and other payables | (15.3) | (2.9) | |
| Cash generated from operations | 123.1 | 103.9 | |
| Interest received | 9.5 | 11.2 | |
| Interest paid | (15.4) | (17.0) | |
| Income tax paid | (22.8) | (22.0) | |
| Net cash from operating activities | 94.4 | 76.1 | |
| Cash flows from investing activities | |||
| Capital expenditure and financial investment | (19.4) | (42.4) | |
| Proceeds from sale of property, plant and equipment | - | 11.6 | |
| Net cash used in investing activities | (19.4) | (30.8) | |
| Free cash flow | 75.0 | 45.3 | |
| Cash flows from financing activities | |||
| Proceeds from the issue of share capital | - | 0.3 | |
| New bank loans | 92.0 | 30.3 | |
| Loans repaid | (77.1) | (16.6) | |
| Equity dividends paid | 10 | (80.0) | (80.0) |
| Net cash used in financing activities | (65.1) | (66.0) | |
| Net increase (decrease) in cash and cash equivalents | 9.9 | (20.7) | |
| Cash and cash equivalents at the beginning of the year | 17.2 | 38.0 | |
| Effect of exchange rates on cash | 0.1 | (0.1) | |
| Cash and cash equivalents at the end of the year | 30 | 27.2 | 17.2 |