| |
|
Group |
|
Parent company |
| Click on notes to open |
Notes |
2008
£ million |
|
2007
£ million |
|
2008
£ million |
|
2007
restated
£ million |
| |
|
|
|
|
|
|
|
|
| Cash flows from operating activities |
|
|
|
|
|
|
|
|
| Profit / (loss) before tax |
|
262.3 |
|
226.5 |
|
48.1 |
|
(53.6) |
| Adjustments for: |
|
|
|
|
|
|
|
|
| Share of loss / (profit) in associate |
18 |
1.1 |
|
(0.9) |
|
- |
|
- |
| Discontinued operations |
40 |
0.3 |
|
15.9 |
|
- |
|
- |
| Depreciation, amortisation and profit on sale of non-current assets and investments |
|
82.0 |
|
77.7 |
|
32.2 |
|
175.9 |
| Share-based payments |
|
4.3 |
|
6.9 |
|
2.5 |
|
3.6 |
| Decrease / (increase) in inventories |
|
8.3 |
|
(82.5) |
|
17.0 |
|
20.8 |
| Increase in receivables |
|
(87.1) |
|
(136.5) |
|
(330.6) |
|
(9.7) |
| (Decrease) / increase in payables |
|
(11.7) |
|
104.6 |
|
260.1 |
|
28.6 |
| (Decrease) / increase in provisions |
|
(3.1) |
|
5.9 |
|
0.3 |
|
2.5 |
| Employee benefit obligations charge less contributions |
|
(6.8) |
|
(9.1) |
|
(7.4) |
|
(6.6) |
| Changes in fair value of financial instruments |
|
2.3 |
|
5.2 |
|
5.4 |
|
(0.1) |
| Net finance costs / (income) |
|
30.3 |
|
26.8 |
|
10.0 |
|
(0.8) |
| Income tax paid |
|
(71.5) |
|
(81.4) |
|
(3.3) |
|
(32.2) |
| |
|
|
|
|
|
|
|
|
| Net cash inflow from operating activities |
|
210.7 |
|
159.1 |
|
34.3 |
|
128.4 |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
|
|
|
|
| Dividends received from associate |
18 |
0.4 |
|
0.5 |
|
- |
|
- |
| Purchases of non-current assets and investments |
35 |
(145.1) |
|
(125.0) |
|
(105.8) |
|
(43.9) |
| Proceeds from sale of non-current assets and investments |
|
1.5 |
|
3.5 |
|
1.0 |
|
0.1 |
| Purchases of businesses and minority interests |
35 |
(158.1) |
|
(8.6) |
|
- |
|
(5.1) |
| Net proceeds from sale of businesses and minority interests |
35 |
(1.8) |
|
127.1 |
|
(1.2) |
|
4.1 |
| |
|
|
|
|
|
|
|
|
| Net cash outflow from investing activities |
|
(303.1) |
|
(2.5) |
|
(106.0) |
|
(44.8) |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
|
|
|
|
| Net purchase of own shares |
35 |
(44.6) |
|
(50.4) |
|
(45.4) |
|
(50.4) |
| Proceeds from / (repayment of) borrowings and finance leases |
35 |
208.0 |
|
(71.8) |
|
211.7 |
|
14.2 |
| Dividends paid to equity holders of the parent company |
10 |
(72.3) |
|
(66.0) |
|
(72.3) |
|
(66.0) |
| Interest paid |
|
(39.4) |
|
(31.3) |
|
(87.5) |
|
(66.9) |
| Interest received |
|
9.7 |
|
4.9 |
|
77.8 |
|
68.0 |
| |
|
|
|
|
|
|
|
|
| Net cash inflow / (outflow) from financing activities |
|
61.4 |
|
(214.6) |
|
84.3 |
|
(101.1) |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| (Decrease) / increase in cash and cash equivalents in the year |
|
(31.0) |
|
(58.0) |
|
12.6 |
|
(17.5) |
| Exchange differences on cash and cash equivalents |
|
9.5 |
|
(7.1) |
|
- |
|
- |
| Cash and cash equivalents at beginning of year |
|
60.0 |
|
125.1 |
|
(7.5) |
|
10.0 |
| |
|
|
|
|
|
|
|
|
| Cash and cash equivalents at end of year |
36 |
38.5 |
|
60.0 |
|
5.1 |
|
(7.5) |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Reconciliation to net debt |
|
|
|
|
|
|
|
|
| (Decrease) / increase in cash and cash equivalents in the year |
|
(31.0) |
|
(58.0) |
|
12.6 |
|
(17.5) |
| (Proceeds from) / repayment of borrowings and finance leases |
|
(208.0) |
|
71.8 |
|
(211.7) |
|
(14.2) |
| |
|
|
|
|
|
|
|
|
| Change in net debt resulting from cash flows |
|
(239.0) |
|
13.8 |
|
(199.1) |
|
(31.7) |
| Borrowings acquired with subsidiaries |
|
(3.6) |
|
- |
|
- |
|
- |
| Borrowings disposed of with subsidiaries |
|
- |
|
19.1 |
|
- |
|
- |
| Exchange differences on net debt |
|
(3.0) |
|
14.3 |
|
- |
|
2.4 |
| |
|
|
|
|
|
|
|
|
| Movement in net debt in year |
|
(245.6) |
|
47.2 |
|
(199.1) |
|
(29.3) |
| Net debt at beginning of year |
|
(364.8) |
|
(412.0) |
|
(415.3) |
|
(386.0) |
| |
|
|
|
|
|
|
|
|
| Net debt at end of year |
25 |
(610.4) |
|
(364.8) |
|
(614.4) |
|
(415.3) |
| |
|
|
|
|
|
|
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|
