| Group | Parent company | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Click on notes to open | Notes | 2010 £ million |
2009 £ million |
2010 £ million |
2009 £ million |
||||
| Cash flows from operating activities | |||||||||
| Profit before tax | 228.5 | 249.4 | 376.9 | 49.0 | |||||
| Adjustments for: | |||||||||
| Share of profit in associate | 19 | (1.7) | (2.0) | – | – | ||||
| Dissolution of associate | 19 | 4.4 | – | – | – | ||||
| Discontinued operations | 41 | – | 0.9 | – | – | ||||
| Depreciation, amortisation and profit on sale of non-current assets and investments | 140.3 | 110.3 | 41.2 | 69.1 | |||||
| Share-based payments | 4.7 | – | 4.2 | – | |||||
| (Increase) / decrease in inventories | (22.1) | 80.1 | 12.0 | (54.2) | |||||
| (Increase) / decrease in receivables | (123.1) | 215.9 | (53.9) | 685.0 | |||||
| Increase / (decrease) in in payables | 47.1 | (91.8) | (90.7) | 198.1 | |||||
| Increase / (decrease) in provisions | 2.5 | 6.3 | 1.1 | (13.9) | |||||
| Employee benefit obligations charge less contributions | (24.9) | (9.0) | (7.9) | (10.1) | |||||
| Changes in fair value of financial instruments | 1.3 | (6.0) | 1.6 | (5.1) | |||||
| Dividends received from subsidiaries | – | – | (276.8) | (56.0) | |||||
| Net finance costs | 19.4 | 32.6 | (11.5) | 14.9 | |||||
| Income tax (paid) / received | (0.7) | (85.3) | 41.1 | (25.8) | |||||
| Net cash inflow from operating activities | 275.7 | 501.4 | 37.3 | 851.0 | |||||
| Cash flows from investing activities | |||||||||
| Dividends received from associate | 19 | 0.6 | – | – | – | ||||
| Dividends received from subsidiaries | – | – | 276.8 | 56.0 | |||||
| Purchases of non-current assets and investments | 36 | (131.8) | (209.3) | (239.8) | (1,004.9) | ||||
| Proceeds from sale of non-current assets and investments | 0.3 | 0.2 | – | – | |||||
| Purchases of businesses and minority interests | 36 | (5.7) | (8.2) | – | – | ||||
| Net proceeds from sale of businesses and minority interests | 36 | – | 17.6 | 56.3 | 187.6 | ||||
| Net cash (outflow) / inflow from investing activities | (136.6) | (199.7) | 93.3 | (761.3) | |||||
| Cash flows from financing activities | |||||||||
| Net proceeds on ESOT transactions in own shares | 36 | 18.4 | 0.8 | 18.4 | 0.8 | ||||
| Proceeds from / (repayment of) borrowings and finance leases | 36 | 30.1 | (48.6) | 31.9 | (7.7) | ||||
| Dividends paid to equity holders of the parent company | 10 | (78.4) | (78.1) | (78.4) | (78.1) | ||||
| Settlement of currency swaps for net investment hedging | (25.3) | (93.9) | (25.3) | – | |||||
| Proceeds from minority interest on share issue | 0.3 | – | – | – | |||||
| Interest paid | (31.5) | (42.7) | (46.7) | (84.0) | |||||
| Interest received | 10.4 | 9.0 | 52.6 | 69.2 | |||||
| Net cash outflow from financing activities | (76.0) | (253.5) | (47.5) | (99.8) | |||||
| Increase / (decrease) in cash and cash equivalents in the year | 63.1 | 48.2 | 83.1 | (10.1) | |||||
| Exchange differences on cash and cash equivalents | 1.5 | 13.1 | – | – | |||||
| Cash and cash equivalents at beginning of year | 99.8 | 38.5 | (5.0) | 5.1 | |||||
| Cash and cash equivalents at end of year | 37 | 164.4 | 99.8 | 78.1 | (5.0) | ||||
| Reconciliation to net debt | |||||||||
| Increase / (decrease) in cash and cash equivalents in the year | 63.1 | 48.2 | 83.1 | (10.1) | |||||
| (Proceeds from) / repayment of borrowings and finance leases | (30.1) | 48.6 | (31.9) | 7.7 | |||||
| Change in net debt resulting from cash flows | 33.0 | 96.8 | 51.2 | (2.4) | |||||
| Exchange differences on net debt | 28.0 | (20.8) | 26.7 | (0.1) | |||||
| Movement in net debt in year | 61.0 | 76.0 | 77.9 | (2.5) | |||||
| Net debt at beginning of year | (534.4) | (610.4) | (616.9) | (614.4) | |||||
| Net debt at end of year | 26 | (473.4) | (534.4) | (539.0) | (616.9) | ||||