| |
|
Six months ended |
|
Year ended |
| |
Notes |
30.9.08
£ million |
|
30.9.07
£ million |
|
31.3.08
£ million |
| |
|
|
|
|
|
|
| Cash flows from operating activities |
|
|
|
|
|
|
| Profit before tax |
|
140.3 |
|
120.1 |
|
262.3 |
| Adjustments for: |
|
|
|
|
|
|
| Share of (profit) / loss in associate |
|
(0.5) |
|
(0.2) |
|
1.1 |
| Discontinued operations |
|
(0.4) |
|
- |
|
0.3 |
| Depreciation, amortisation and profit on sale of non-current assets and investments |
|
48.5 |
|
37.8 |
|
82.0 |
| Share-based payments |
|
2.4 |
|
2.0 |
|
4.3 |
| Changes in working capital and provisions |
|
(9.3) |
|
(34.9) |
|
(100.4) |
| Changes in fair value of financial instruments |
|
10.8 |
|
1.3 |
|
2.3 |
| Net finance costs |
|
19.9 |
|
12.5 |
|
30.3 |
| Income tax paid |
|
(66.7) |
|
(31.6) |
|
(71.5) |
| |
|
|
|
|
|
|
| Net cash inflow from operating activities |
|
145.0 |
|
107.0 |
|
210.7 |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
|
|
| Dividends received from associate |
|
- |
|
0.3 |
|
0.4 |
| Purchases of non-current assets and investments |
|
(68.6) |
|
(58.8) |
|
(145.1) |
| Proceeds from sale of non-current assets and investments |
|
0.1 |
|
1.2 |
|
1.5 |
| Purchases of businesses and minority interests |
|
(1.7) |
|
- |
|
(158.1) |
| Net proceeds from sale of businesses and minority interests |
|
(0.3) |
|
(0.8) |
|
(1.8) |
| |
|
|
|
|
|
|
| Net cash outflow from investing activities |
|
(70.5) |
|
(58.1) |
|
(303.1) |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
|
|
| Net purchase of own shares |
|
0.6 |
|
(47.7) |
|
(44.6) |
| Proceeds from borrowings and finance leases |
|
40.3 |
|
72.4 |
|
208.0 |
| Dividends paid to equity holders of the parent company |
6 |
(54.7) |
|
(50.0) |
|
(72.3) |
| Interest paid |
|
(21.2) |
|
(18.8) |
|
(39.4) |
| Interest received |
|
2.8 |
|
6.7 |
|
9.7 |
| |
|
|
|
|
|
|
| Net cash (outflow) / inflow from financing |
|
(32.2) |
|
(37.4) |
|
61.4 |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Increase / (decrease) in cash and cash equivalents in period |
|
42.3 |
|
11.5 |
|
(31.0) |
| Exchange differences on cash and cash equivalents |
|
(0.1) |
|
0.2 |
|
9.5 |
| Cash and cash equivalents at beginning of period |
|
38.5 |
|
60.0 |
|
60.0 |
| |
|
|
|
|
|
|
| Cash and cash equivalents at end of period |
9 |
80.7 |
|
71.7 |
|
38.5 |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Reconciliation to net debt |
|
|
|
|
|
|
| Increase / (decrease) in cash and cash equivalents in period |
|
42.3 |
|
11.5 |
|
(31.0) |
| Proceeds from borrowings and finance leases |
|
(40.3) |
|
(72.4) |
|
(208.0) |
| |
|
|
|
|
|
|
| Change in net debt resulting from cash flows |
|
2.0 |
|
(60.9) |
|
(239.0) |
| Borrowings acquired with subsidiaries |
|
- |
|
- |
|
(3.6) |
| Exchange differences on net debt |
|
(11.4) |
|
6.8 |
|
(3.0) |
| |
|
|
|
|
|
|
| Movement in net debt in period |
|
(9.4) |
|
(54.1) |
|
(245.6) |
| Net debt at beginning of period |
|
(610.4) |
|
(364.8) |
|
(364.8) |
| |
|
|
|
|
|
|
| Net debt at end of period |
9 |
(619.8) |
|
(418.9) |
|
(610.4) |
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
