Financial Statements
Five-year Summary
Consolidated Cash Flow Statements for the years ended 31 March
| 2010 | 2009 | 2008 | 2007 | 2006 | |
| £m | £m | £m | £m | £m | |
| Continuing operations | |||||
| Profit for the year | 77.3 | 84.2 | 68.6 | 54.9 | 56.9 |
| Adjustments for: | |||||
| Income tax | 19.3 | 18.5 | 23.3 | 15.2 | 17.9 |
| Finance income | (3.8) | (6.7) | (9.8) | (9.0) | (7.9) |
| Finance cost | 18.4 | 9.8 | 5.5 | 5.4 | 11.2 |
| Share of post-tax loss/(profits) from Joint Ventures | 1.9 | (0.2) | (0.9) | (2.8) | (8.8) |
| Other non-cash costs | 0.1 | – | – | – | – |
| Profit on disposal of Joint Ventures | (0.1) | (2.5) | – | – | (6.4) |
| Depreciation charges | 15.3 | 20.7 | 19.3 | 18.8 | 14.7 |
| Amortisation charges | 7.5 | 12.7 | 11.1 | 11.6 | 9.6 |
| Release of deferred income | (0.2) | (0.1) | (3.0) | (0.2) | (0.8) |
| Share-based payment charge | 6.8 | 8.9 | 8.6 | 5.1 | 3.0 |
| Pensions settlement and curtailment gain | (6.7) | – | – | – | – |
| Result on disposal of property, plant and equipment | 1.4 | 0.7 | 0.1 | (0.1) | 0.7 |
| Movement in provisions | (5.9) | 9.2 | (5.5) | 8.5 | (0.1) |
| Working capital movements | (4.8) | (29.7) | (36.4) | (13.5) | 21.7 |
| Cash generated from continuing operations | 126.5 | 125.5 | 80.9 | 93.9 | 111.7 |
| Discontinued operations | |||||
| Cash generated from discontinued operations | – | – | 0.3 | 10.8 | – |
| Cash generated from operations | 126.5 | 125.5 | 81.2 | 104.7 | 111.7 |
| Interest received | 3.4 | 6.3 | 9.7 | 8.9 | 7.6 |
| Interest paid | (1.1) | (2.2) | (3.3) | (2.1) | (2.4) |
| Income tax (paid)/received | (18.0) | (12.8) | (14.7) | 4.9 | (10.9) |
| Net cash from operating activities | 110.8 | 116.8 | 72.9 | 116.4 | 106.0 |
| Cash flows from investing activities | (21.1) | (32.8) | (27.2) | (78.0) | (41.2) |
| Cash flows from financing activities | (40.5) | (45.8) | (78.3) | (25.9) | (2.9) |
| Net increase in cash, cash equivalents and bank overdrafts | 49.2 | 38.2 | (32.6) | 12.5 | 61.9 |
| Cash, cash equivalents and bank overdrafts at beginning of year | 209.7 | 154.5 | 187.7 | 177.4 | 114.6 |
| Effect of exchange rate changes | 1.4 | 17.0 | (0.6) | (2.2) | 0.9 |
| Cash, cash equivalents and bank overdrafts at end of year | 260.3 | 209.7 | 154.5 | 187.7 | 177.4 |
| Financial assets | 32.4 | 28.7 | 29.7 | 49.6 | 40.8 |
| Loan notes receivable | 21.2 | 12.9 | 5.6 | – | – |
| Borrowings due within one year | (0.7) | (2.8) | (4.2) | (0.4) | (2.7) |
| Borrowings due after one year | – | (0.6) | (3.2) | (23.1) | (20.6) |
| Finance leases | (10.7) | (13.7) | (14.0) | (14.7) | (18.3) |
| Net funds | 302.5 | 234.2 | 168.4 | 199.1 | 176.6 |