| |
|
|
 Six months ended |
Year ended |
| |
|
Notes |
30.9.05
£ million |
30.9.04
£ million |
31.3.05
£ million |
| |
|
|
|
|
|
| Cash flows from operating activities |
|
|
|
|
|
| Profit before tax |
|
|
106.4 |
88.3 |
167.4 |
| Adjustments for: |
|
|
|
|
|
| Share of loss / (profit) in associates |
|
|
0.4 |
(0.1) |
(0.5) |
| Discontinued operations |
|
|
– |
0.4 |
0.4 |
Depreciation, amortisation and profit on sale of non-current assets
and investments |
|
|
33.2 |
32.7 |
66.1 |
| Share-based payments |
|
|
2.1 |
1.4 |
2.8 |
| Changes in working capital and provisions |
|
|
(28.7) |
(6.6) |
(12.5) |
| Changes in fair value of financial instruments |
|
|
(1.0) |
– |
– |
| Net interest |
|
|
7.7 |
7.2 |
13.0 |
| Income tax received / (paid) |
|
|
6.4 |
(32.2) |
(52.9) |
| |
|
|
|
|
|
| Net cash inflow from operating activities |
|
|
126.5 |
91.1 |
183.8 |
| |
|
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
|
| Dividends received from associates |
|
|
0.1 |
0.1 |
0.2 |
| Purchases of non-current assets and investments |
|
|
(48.4) |
(38.3) |
(96.3) |
| Proceeds from sale of non-current assets and investments |
|
|
1.9 |
1.3 |
4.1 |
| Purchases of businesses and minority interest |
|
|
(1.1) |
(3.1) |
(4.0) |
| Net proceeds from sale of business |
|
|
– |
24.4 |
23.3 |
| |
|
|
|
|
|
| Net cash outflow from investing activities |
|
|
(47.5) |
(15.6) |
(72.7) |
| |
|
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
|
| Net purchase of own shares |
|
|
(11.9) |
1.1 |
(16.1) |
| Proceeds from / (repayment of) borrowings and finance leases |
|
|
14.0 |
(29.1) |
(50.6) |
| Dividends paid to equity holders of the parent company |
|
6 |
(40.9) |
(39.5) |
(58.4) |
| Dividends paid to minority shareholders |
|
|
– |
– |
(0.2) |
| Interest paid |
|
|
(15.6) |
(12.3) |
(32.1) |
| Interest received |
|
|
7.9 |
5.6 |
19.2 |
| |
|
|
|
|
|
| Net cash outflow from financing |
|
|
(46.5) |
(74.2) |
(138.2) |
| |
|
|
|
|
|
| Increase / (decrease) in cash and cash equivalents in the period |
|
|
32.5 |
1.3 |
(27.1) |
| Exchange differences on cash and cash equivalents |
|
|
4.8 |
1.6 |
0.1 |
| Cash and cash equivalents at beginning of period |
|
|
64.0 |
91.0 |
91.0 |
| |
|
|
|
|
|
| Cash and cash equivalents at end of period |
|
9 |
101.3 |
93.9 |
64.0 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| Reconciliation to net debt |
|
|
|
|
|
| Increase / (decrease) in cash and cash equivalents in the period |
|
|
32.5 |
1.3 |
(27.1) |
| (Proceeds from ) / repayment of borrowings and finance leases |
|
|
(14.0) |
29.1 |
50.6 |
| |
|
|
|
|
|
| Change in net debt resulting from cash flows |
|
|
18.5 |
30.4 |
23.5 |
| Exchange differences on net debt |
|
|
(9.7) |
0.9 |
1.4 |
| |
|
|
|
|
|
| Movement in net debt in period |
|
|
8.8 |
31.3 |
24.9 |
| Net debt at beginning of period (after adjustment to opening position for IAS 39) |
|
10 |
(370.2) |
(394.5) |
(394.5) |
| |
|
|
|
|
|
| Net debt at end of period |
|
9 |
(361.4) |
(363.2) |
(369.6) |
| |
|
|
|
|
|
