GROUP CASH FLOW STATEMENT

For the year-ended 28 February 2013
2013 2012
€m €m
   

CASH FLOWS FROM OPERATING ACTIVITIES

   

Profit for the year attributable to equity shareholders

88.7 95.7

Finance income

(0.1) (0.7)

Finance expense

5.0 5.8

Income tax expense

15.7 13.4

Depreciation of property, plant & equipment

21.6 20.2

Amortisation of intangible assets

0.1 0.1

Profit on disposal of property, plant & equipment

- (0.3)

Revaluation loss on property, plant & equipment

- 2.0

Loss on disposal of businesses

- 1.8

Exceptional retirement benefit obligations gain - discontinued operations

- (0.1)

Charge for share-based employee benefits

3.0 2.6

Pension contributions paid less amount charged to income statement

(5.9) (19.1)
128.1 121.4
 

Increase in inventories

(0.7) (4.5)

(Increase)/decrease in trade & other receivables

(14.8) 10.6

(Decrease)/increase in trade & other payables

(18.4) 1.2

Decrease in provisions

(4.9) (0.1)
89.3 128.6
 

Interest received

0.1 0.7

Interest and similar costs paid

(2.0) (4.6)

Income taxes paid

(8.5) (4.4)
 

Net cash inflow from operating activities

78.9 120.3
 

CASH FLOWS FROM INVESTING ACTIVITIES

 

Purchase of property, plant & equipment

(24.1) (18.9)

Net proceeds on disposal of property, plant & equipment

- 1.2

Acquisition of brand/deferred consideration paid on acquisition of brand (note 13)

(3.7) (16.6)

Acquisition of business (note 11)

(229.8) -

Acquisition of equity accounted investee (note 14)

(2.9) -

Proceeds on disposal of businesses

- 4.7
 

Net cash outflow from investing activities

(260.5) (29.6)
 

CASH FLOWS FROM FINANCING ACTIVITIES

 

Proceeds from exercise of share options

3.5 1.5

Proceeds from issue of new shares following acquisition of subsidiary

5.3 -

Proceeds from sale of shares held by Employee Trust

6.6 -

Proceeds from exercise of Interests under Joint Share Ownership Plan

- 0.1

Drawdown of debt

251.2 -

Repayment of debt

(65.2) (73.6)

Payment of issue costs

(2.8) -

Dividends paid

(21.2) (18.5)
 

Net cash inflow/(outflow) from financing activities

177.4 (90.5)
 
 

Net (decrease)/increase in cash & cash equivalents

(4.2) 0.2

Cash & cash equivalents at beginning of year

128.3 128.7

Translation adjustment

(3.1) (0.6)
 

Cash & cash equivalents at end of year

121.0 128.3

A reconciliation of cash & cash equivalents to net debt is presented in note 20 to the financial statements.

On behalf of the Board



 

Sir B Stewart

S Glancey

Chairman

Group Chief Executive Officer

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