| |
|
Six months ended |
Year ended |
| |
Notes |
30.9.09
£ million |
30.9.08
restated
£ million |
31.3.09
£ million |
| |
|
|
|
|
| Cash flows from operating activities |
|
|
|
|
| Profit before tax |
|
109.5 |
140.3 |
249.4 |
| Adjustments for: |
|
|
|
|
| Share of profit in associate |
|
(0.7) |
(0.5) |
(2.0) |
| Discontinued operations |
|
- |
(0.4) |
0.9 |
| Depreciation, amortisation and profit on sale of non-current assets and investments |
|
61.4 |
48.5 |
110.3 |
| Share-based payments |
|
0.7 |
2.4 |
- |
| Changes in working capital and provisions |
|
(106.3) |
2.8 |
201.5 |
| Changes in fair value of financial instruments |
|
(1.9) |
10.8 |
(6.0) |
| Net finance costs |
|
10.2 |
19.9 |
32.6 |
| Income tax received / (paid) |
|
4.7 |
(66.7) |
(85.3) |
| |
|
|
|
|
| Net cash inflow from operating activities |
|
77.6 |
157.1 |
501.4 |
| |
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
| Dividends received from associate |
|
0.6 |
- |
- |
| Purchases of non-current assets and investments |
|
(66.8) |
(68.6) |
(209.3) |
| Proceeds from sale of non-current assets and investments |
|
0.1 |
0.1 |
0.2 |
| Purchases of businesses and minority interests |
|
(0.3) |
(1.7) |
(8.2) |
| Net proceeds from sale of businesses |
|
- |
(0.3) |
17.6 |
| |
|
|
|
|
| Net cash outflow from investing activities |
|
(66.4) |
(70.5) |
(199.7) |
| |
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
| Net proceeds on ESOT transactions in own shares |
|
3.3 |
0.6 |
0.8 |
| Proceeds from / (repayment of) borrowings and finance leases |
|
68.4 |
40.3 |
(48.6) |
| Dividends paid to equity holders of the parent company |
6 |
(54.9) |
(54.7) |
(78.1) |
| Settlement of currency swaps for net investment hedging |
|
(30.6) |
(12.1) |
(93.9) |
| Proceeds from minority interest on share issue |
|
0.3 |
- |
- |
| Interest paid |
|
(17.6) |
(21.2) |
(42.7) |
| Interest received |
|
5.7 |
2.8 |
9.0 |
| |
|
|
|
|
| Net cash outflow from financing |
|
(25.4) |
(44.3) |
(253.5) |
| |
|
|
|
|
| (Decrease) / increase in cash and cash equivalents in period |
|
(14.2) |
42.3 |
48.2 |
| Exchange differences on cash and cash equivalents |
|
(2.0) |
(0.1) |
13.1 |
| Cash and cash equivalents at beginning of period |
|
99.8 |
38.5 |
38.5 |
| |
|
|
|
|
| Cash and cash equivalents at end of period |
7 |
83.6 |
80.7 |
99.8 |
| |
|
|
|
|
| |
|
|
|
|
| Reconciliation to net debt |
|
|
|
|
| (Decrease) / increase in cash and cash equivalents in period |
|
(14.2) |
42.3 |
48.2 |
| (Proceeds from) / repayment of borrowings and finance leases |
|
(68.4) |
(40.3) |
48.6 |
| |
|
|
|
|
| Change in net debt resulting from cash flows |
|
(82.6) |
2.0 |
96.8 |
| Exchange differences on net debt |
|
32.7 |
(11.4) |
(20.8) |
| |
|
|
|
|
| Movement in net debt in period |
|
(49.9) |
(9.4) |
76.0 |
| Net debt at beginning of period |
|
(534.4) |
(610.4) |
(610.4) |
| |
|
|
|
|
| Net debt at end of period |
7 |
(584.3) |
(619.8) |
(534.4) |
| |
|
|
|
|
