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- Financial Statements
- Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT
for the year ended 1st October, 2006
Note | 2006 £m | 2005 £m | |
|---|---|---|---|
| Operating profit | 3 | 149.5 | 235.5 |
| Adjustments for: | |||
| Share based payments | 11.6 | 10.6 | |
| Depreciation | 3, 19 | 70.6 | 71.1 |
| Non-exceptional loss on disposal of property, plant and equipment | 3 | – | 0.3 |
| Amortisation of intangible assets | 3, 18 | 50.6 | 28.7 |
| Impairment of goodwill and intangible assets | 3, 17, 18 | 59.2 | 5.3 |
| Operating cash flows before movements in working capital | 341.5 | 351.5 | |
| Increase in inventories | (5.4) | (1.9) | |
| Increase in trade and other receivables | (13.6) | (38.0) | |
| Increase in trade and other payables | 47.0 | 60.0 | |
| Decrease/(increase) in provisions | 1.9 | (3.1) | |
| Cash generated by operations | 371.4 | 368.5 | |
| Taxation paid | (29.1) | (44.6) | |
| Taxation received | 8.5 | 9.0 | |
| Net cash inflow from operating activities | 350.8 | 332.9 | |
| Investing activities | |||
| Interest received | 3.5 | 4.1 | |
| Dividends received from joint ventures and associates | 7.0 | 6.8 | |
| Dividends received from other investments | 3.8 | 2.6 | |
| Purchase of property, plant and equipment | (117.5) | (95.0) | |
| Purchase of investments | 21 | (21.6) | (0.4) |
| Proceeds on disposal of property, plant and equipment | 19.1 | 6.2 | |
| Proceeds on disposal of investments | 28.6 | 16.0 | |
| Purchase of subsidiaries | 14 | (293.4) | (102.2) |
| Internally generated intangible fixed assets | 18 | (10.5) | – |
| Treasury hedging activities (net) | 5.3 | 0.4 | |
| Investment in joint ventures and associates (net) | 20 | (13.7) | (29.7) |
| Proceeds on disposal of subsidiaries | 14 | 186.5 | 15.7 |
| Net cash used in investing activities | (202.9) | (175.5) | |
| Financing activities | |||
| Equity dividends paid | 10 | (48.6) | (44.9) |
| Dividends paid to minority interests | 35 | (7.7) | (5.7) |
| Issue of share capital | 35 | 1.4 | 1.0 |
| Issue of shares by Group companies to minority interests | 35 | 2.2 | 3.2 |
| Purchase of own shares | 35 | (31.0) | (15.4) |
| Settlement of subsidiary share option plan | (6.4) | – | |
| Interest paid | (50.1) | (68.7) | |
| Interest element of finance lease rental payments | 13 | (0.1) | (2.0) |
| Capital element of finance lease rental payments | 13 | (7.2) | (5.4) |
| Bonds repaid | – | (87.7) | |
| Loan notes repaid | 13 | (2.1) | – |
| (Repayment)/increase of other borrowings | 13 | (23.7) | 100.4 |
| Net cash used in financing activities | (173.3) | (125.2) | |
| Net (decrease)/increase in cash and cash equivalents | 13 | (25.4) | 32.2 |
| Cash and cash equivalents at beginning of year | 13, 25 | 124.0 | 91.4 |
| Exchange (loss)/gain on cash and cash equivalents | 13 | (2.5) | 0.4 |
| Cash and cash equivalents at end of year | 13, 25 | 96.1 | 124.0 |