| (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 |
* Continuing activities only, pre-exceptional items.
View PDF of Cash flow statement
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