| Note | 2009 £m |
2008 £m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before tax | 96.5 | 95.4 | |
| Depreciation and other amortisation | 27.3 | 26.7 | |
| Equity‑settled transactions | 1.2 | 1.1 | |
| Finance income and expense | 7.0 | 7.3 | |
| Non‑cash movement on investment in associate | (0.1) | – | |
| Non‑recurring non‑cash pension changes | 4 | (16.7) | – |
| Operating cash flow before changes in working capital, interest and taxes | 115.2 | 130.5 | |
| Decrease in inventories | 3.4 | 7.4 | |
| Decrease in trade and other receivables | 28.0 | 0.5 | |
| (Decrease) in trade and other payables | (25.2) | (15.3) | |
| Cash generated from operations | 121.4 | 123.1 | |
| Interest received | 4.8 | 9.5 | |
| Interest paid | (13.5) | (15.4) | |
| Income tax paid | (22.9) | (22.8) | |
| Net cash from operating activities | 89.8 | 94.4 | |
| Cash flows from investing activities | |||
| Capital expenditure and financial investment | (12.1) | (19.4) | |
| Proceeds from sale of property, plant and equipment | 0.3 | – | |
| Net cash used in investing activities | (11.8) | (19.4) | |
| Free cash flow | 78.0 | 75.0 | |
| Cash flows from financing activities | |||
| Proceeds from the issue of share capital | – | – | |
| New bank loans | 143.1 | 92.0 | |
| Loans repaid | (171.0) | (77.1) | |
| Equity dividends paid | 9 | (76.6) | (80.0) |
| Net cash used in financing activities | (104.5) | (65.1) | |
| Net (decrease) increase in cash and cash equivalents | (26.5) | 9.9 | |
| Cash and cash equivalents at the beginning of the year | 27.2 | 17.2 | |
| Effect of exchange rate fluctuation on cash | 0.1 | 0.1 | |
| Cash and cash equivalents at the end of the year | 28 | 0.8 | 27.2 |
The notes form part of these Group accounts.