Financial Statements
Consolidated and Parent Company Cash Flow Statements
For the year ended 31 March 2009
| Group | Company | ||||||
| 2009 | 2008 | 2009 | 2008 | ||||
| Notes | £m | £m | £m | £m | |||
| Cash flows from operating activities | |||||||
| Cash generated from operations | 34 | 125.5 | 80.9 | 28.7 | 55.7 | ||
| Interest received | 6.3 | 9.7 | 0.4 | 0.2 | |||
| Interest paid | (2.2) | (3.3) | – | – | |||
| Income tax paid | (12.8) | (14.7) | – | – | |||
| Discontinued operations | 10 | – | 0.3 | – | – | ||
| Net cash generated from operating activities | 116.8 | 72.9 | 29.1 | 55.9 | |||
| Cash flows from investing activities | |||||||
| Distributions received from Joint Ventures | 1.3 | 2.5 | – | – | |||
| Investments in Joint Ventures | – | (0.9) | – | – | |||
| Investments in subsidiary companies | – | – | (9.6) | (54.5) | |||
| Acquisitions of subsidiaries | |||||||
| – Consideration | 15 | (3.5) | (6.4) | – | – | ||
| – Cash acquired | 15 | 1.0 | 0.7 | – | – | ||
| Deferred consideration payments | (0.8) | – | – | – | |||
| Dividend income received | – | – | – | 10.9 | |||
| Net loans to Joint Ventures | (6.9) | – | – | – | |||
| Purchases of property, plant and equipment | (18.2) | (18.9) | – | – | |||
| Proceeds from disposals of property, plant and equipment | 1.1 | 1.0 | – | – | |||
| Proceeds from disposals of investments in subsidiaries | 0.2 | – | – | 50.6 | |||
| Proceeds from disposals of investments in Joint Ventures | 9 | 2.5 | – | – | – | ||
| Financial assets | 1.0 | 19.9 | – | – | |||
| Purchases of intangible assets | (10.5) | (7.8) | – | – | |||
| Discontinued operations | 10 | – | (17.3) | – | – | ||
| Net cash (used in)/generated from investing activities | (32.8) | (27.2) | (9.6) | 7.0 | |||
| Cash flows from financing activities | |||||||
| Repayment of short-term loans | (4.3) | (0.2) | – | – | |||
| Repayment of long-term loans | – | (17.6) | – | – | |||
| Finance lease principal payments | (4.5) | (4.4) | – | – | |||
| Share buybacks | (12.3) | (34.0) | (12.3) | (34.0) | |||
| Equity dividends paid to shareholders | 11 | (24.7) | (21.8) | (24.7) | (21.8) | ||
| Discontinued operations | 10 | – | (0.3) | – | – | ||
| Loans from Group companies | – | – | 10.4 | – | |||
| Net cash used in financing activities | (45.8) | (78.3) | (26.6) | (55.8) | |||
| Net increase/(decrease) in cash, cash equivalents and bank overdrafts | 38.2 | (32.6) | (7.1) | 7.1 | |||
| Cash, cash equivalents and bank overdrafts at beginning of year | 154.5 | 187.7 | 7.1 | – | |||
| Exchange movements | 17.0 | (0.6) | – | – | |||
| Cash, cash equivalents and bank overdrafts at end of year | 24 | 209.7 | 154.5 | – | 7.1 | ||
The notes are an integral part of these Financial Statements.