Consolidated Cash Flow statement
for the year ended 31 December 2007
| Notes | 2007 £m |
2006 £m | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Reconciliation of profit to operating cash flows | |||
| Profit for the period | 114.0 | 146.4 | |
| Add back: | |||
| Taxation | 21.9 | (11.0) | |
| Depreciation | 9.8 | 8.6 | |
| Amortisation of website development costs | 0.4 | – | |
| Amortisation of intangibles arising on acquisitions | 20.0 | 15.0 | |
| Interest income | (6.7) | (14.9) | |
| Interest expense | 7.3 | 6.6 | |
| Net financing income– pension schemes | (4.5) | (2.5) | |
| Net financing costs – other than interest | 0.5 | 20.0 | |
| Other non-cash items | 7.5 | 5.7 | |
| Share in profits from associates and joint ventures | (2.6) | (4.4) | |
| Additional profit on prior year disposal | (6.0) | – | |
| Profit on disposal | – | (24.8) | |
| Exceptional reorganisation and restructuring costs | 19.6 | 14.9 | |
| 181.2 | 159.6 | ||
| Payments against provisions | (32.2) | (27.9) | |
| Additional pension contributions | (1.7) | (7.3) | |
| Decrease/(increase) in inventories | 0.1 | (0.7) | |
| Decrease in trade and other receivables | 15.0 | 0.9 | |
| Decrease in trade and other payables | (23.7) | 32.0 | |
| Cash generated from operations | 138.7 | 92.6 | |
| Interest received | 7.5 | 15.1 | |
| Interest paid | (6.3) | (4.9) | |
| Taxation paid | (5.3) | (6.2) | |
| Dividends received from joint ventures and associates | 0.8 | 5.1 | |
| Net cash flows from operating activities | 135.4 | 101.7 | |
| Cash flows from investing activities | |||
| Acquisition of interests in subsidiaries, net of cash acquired | (82.4) | (155.8) | |
| Sale of discontinued operations | – | 44.4 | |
| Purchase of property, plant and equipment and intangibles | (12.6) | (13.1) | |
| Proceeds of sale of property and equipment | 7.7 | 16.9 | |
| Purchase of interest in joint ventures and associates | (2.7) | (4.1) | |
| Purchase of other investments | – | (0.6) | |
| Proceeds from sale of investments | 1.1 | 0.3 | |
| Net cash flows from investing activities | (88.9) | (112.0) | |
| Cash flows from financing activities | |||
| Proceeds from issuance of ordinary share capital | 7.2 | 29.1 | |
| Return of capital to shareholders (including costs) | (76.7) | (95.4) | |
| Dividend paid to shareholders | (246.7) | (44.6) | |
| Dividend paid to minority interests | (3.9) | (4.5) | |
| Investment in own shares - ESOP | (0.2) | (13.9) | |
| Increase in borrowings | 55.2 | 45.8 | |
| Repurchase of bonds | – | (68.1) | |
| Net cash flows from financing activities | (265.1) | (151.6) | |
| Net decrease in cash and cash equivalents | (218.6) | (161.9) | |
| Net foreign exchange difference | 0.5 | (7.9) | |
| 20 | Cash and cash equivalents at 1 January | 312.8 | 482.6 |
| 20 | Cash and cash equivalents at 31 December | 94.7 | 312.8 |
| Title | Size | File type |
| Notes to the Financial Statements (PDF, opens in a new window) | 208 KB |  |
