Consolidated cash flow statement
for the year ended 31 December 2009
|
Notes |
2009
£m |
2008
£m |
| Cash flows from operating activities |
|
|
|
| Operating profit on continuing activities before interest and taxation |
|
299.6 |
302.3 |
| Depreciation |
14 |
54.4 |
50.0 |
| Amortisation of other intangible assets (treated as depreciation) |
15 |
1.2 |
1.5 |
| Amortisation of intangible assets created on acquisition |
15 |
28.1 |
18.6 |
| Share based payment expense |
28 |
9.8 |
9.2 |
| Pension charge |
32 |
21.2 |
19.3 |
| Pension contributions before exceptional additional contribution |
32 |
(32.0) |
(28.5) |
| Loss on sale of property, plant and equipment |
|
1.1 |
1.1 |
| Movement in provisions |
|
25.5 |
(2.2) |
| Movement in provisions due to reclassification from payables during the year |
|
17.2 |
– |
| Decrease/(increase) in receivables |
|
18.6 |
(90.7) |
| (Decrease)/increase in payables |
|
(8.0) |
111.4 |
| Cash generated from operations before exceptional additional pension contribution |
|
436.7 |
392.0 |
| Income tax paid |
|
(58.3) |
(48.6) |
| Exceptional additional pension contribution |
32 |
(40.0) |
(10.0) |
| Net interest paid |
|
(31.1) |
(38.4) |
| Cash generated from operations after income tax, interest and exceptional additional pension contribution |
|
307.3 |
295.0 |
| Net cash used in investing activities |
|
|
|
| Purchase of property, plant and equipment |
14 |
(68.4) |
(86.4) |
| Proceeds from sale of property, plant and equipment |
|
0.1 |
0.3 |
| Acquisition of subsidiary undertakings and businesses |
18 |
(197.1) |
(188.4) |
| Cash acquired with subsidiary undertakings |
18 |
24.2 |
8.9 |
| Disposal of financial assets |
17 |
1.6 |
23.1 |
| Purchase of financial assets |
17 |
(0.4) |
– |
| Investment loan |
17 |
(0.6) |
(6.2) |
| Proceeds on business disposal (net of cash sold) |
5 |
8.0 |
– |
| Return on investment in joint venture |
6 and 17 |
0.4 |
0.1 |
|
|
(232.2) |
(248.6) |
| Net cash from financing activities |
|
|
|
| Issue of ordinary share capital |
27 |
24.9 |
35.7 |
| Share buybacks |
|
– |
(68.4) |
| Share transaction costs |
|
– |
(0.4) |
| Dividends paid |
13 |
(93.2) |
(78.0) |
| Capital element of finance lease rental payments |
29 |
– |
(0.2) |
| Instalment debtor movement |
|
(8.1) |
– |
| Asset based securitised financing |
29 |
6.7 |
0.7 |
| Repayment of loan notes and long term debt |
29 |
(108.0) |
(3.3) |
| Proceeds on issue of debt |
29 |
200.0 |
200.2 |
| Financing arrangement costs |
23 |
(2.6) |
(0.7) |
|
|
19.7 |
85.6 |
| Net increase in cash and cash equivalents |
|
94.8 |
132.0 |
| Cash and cash equivalents at the beginning of the period |
|
86.7 |
(45.3) |
| Cash and cash equivalents at 31 December |
|
181.5 |
86.7 |
| Cash and cash equivalents comprise: |
|
|
|
| Cash at bank and in hand |
20 |
181.5 |
86.7 |
| Total |
|
181.5 |
86.7 |