Cash flow statement
Group Cash Flow Statement
For the year ended 31 March 2011
| 2011 £m |
2010 £m |
|
|---|---|---|
| Cash flows from operating activities | ||
| Profit before tax | 114.0 | 76.0 |
| Depreciation and other amortisation | 27.0 | 26.9 |
| Equity-settled transactions | 1.9 | 2.4 |
| Finance income and expense | 5.8 | 4.8 |
| Non-cash movement on investment in associate | (0.1) | (0.1) |
| Non-recurring non-cash pension change | - | (4.8) |
| Operating cash flow before changes in working capital, interest and taxes | 148.6 | 105.2 |
| Increase in inventories | (51.2) | (3.7) |
| Increase in trade and other receivables | (34.0) | (17.5) |
| Increase in trade and other payables | 43.5 | 30.5 |
| Cash generated from operations | 106.9 | 114.5 |
| Interest received | 3.0 | 1.5 |
| Interest paid | (9.1) | (6.0) |
| Income tax paid | (21.5) | (21.7) |
| Net cash from operating activities | 79.3 | 88.3 |
| Cash flows from investing activities | ||
| Capital expenditure and financial investment | (22.1) | (16.4) |
| Proceeds from sale of property, plant and equipment | 0.2 | - |
| Net cash used in investing activities | (21.9) | (16.4) |
| Free cash flow | 57.4 | 71.9 |
| Cash flows from financing activities | ||
| Proceeds from the issue of share capital | 0.2 | - |
| New loans | 76.8 | 24.7 |
| Loans repaid | (85.4) | (45.3) |
| Equity dividends paid | (47.9) | (47.9) |
| Net cash used in financing activities | (56.3) | (68.5) |
| Net increase in cash and cash equivalents | 1.1 | 3.4 |
| Cash and cash equivalents at the beginning of the year | 4.3 | 0.8 |
| Effect of exchange rates on cash | 0.2 | 0.1 |
| Cash and cash equivalents at the end of the year | 5.6 | 4.3 |
