Cash flow statement

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Consolidated Cash Flow Statement for the year ended 30 June

(In £’s million)	2009	2008
Operating profit from continuing operations	158.0	269.1
Adjustments for:
Exceptional items – non cash	–	(15.3)
Depreciation of property, plant and equipment	10.4	9.6
Amortisation of intangible fixed assets	1.2	1.7
Loss on disposal of property, plant and equipment	0.8	–
Net movement in provisions	0.1	(5.9)
Movement in employee benefits and other items	0.4	11.9
	12.9	2.0
Operating cash flows before movement in working capital	170.9	271.1
Changes in working capital
Decrease/(increase) in receivables	99.0	(42.6)
(Decrease)/increase in payables	(9.0)	27.5
	90.0	(15.1)
Cash generated by operations	260.9	256.0
Income taxes paid	(56.5)	(74.1)
Net cash from operating activities	204.4	181.9
Investing activities
Purchases of property, plant and equipment	(8.2)	(14.8)
Proceeds from sale of property, plant and equipment	–	0.1
Purchase of intangible assets	(28.8)	(6.7)
Cash paid in respect of acquisitions made in previous years	(5.4)	–
Sale of businesses and related assets – discontinued	–	0.6
Interest received	1.9	3.2
Net cash used in investing activities	(40.5)	(17.6)
Financing activities
Interest paid	(4.6)	(10.4)
Equity dividends paid	(79.3)	(74.0)
Cash outflow in respect of share buy-back	(2.1)	(91.1)
Purchase of own shares	–	(0.7)
Proceeds from share option exercises	–	2.8
Proceeds from sale of own shares	5.4	–
Issue/(repayment) of loan notes	0.6	(0.8)
Decrease in bank overdrafts	(82.7)	(8.7)
Additional pension scheme funding	(2.7)	(2.5)
Net cash used in financing activities	(165.4)	(185.4)
Net decrease in cash and cash equivalents	(1.5)	(21.1)
Cash and cash equivalents at beginning of year	54.0	68.4
Effect of foreign exchange rate changes	2.5	6.7
Cash and cash equivalents at end of year	55.0	54.0