|
|
1998 |
|
|
1997 |
|
|
|
£m |
|
£m |
|
£m |
|
£m |
|
|
Reconciliation
of operating profit to
net cash inflow from operating activities |
|
|
|
|
|
|
|
|
|
| Operating
profit |
|
|
157.8 |
|
|
|
152.3 |
|
|
| Depreciation
|
|
|
55.1 |
|
|
|
48.0 |
|
|
| Stocks
decrease |
|
|
6.4 |
|
|
|
9.3 |
|
|
| Debtors
decrease/(increase) |
|
|
27.1 |
|
|
|
(12.6 |
) |
|
| Creditors
and provisions decrease |
|
|
(45.6 |
) |
|
|
(1.2 |
) |
|
| Exceptional
items |
|
|
(3.3 |
) |
|
|
(2.4 |
) |
|
| Net
cash inflow from operating activities |
|
|
197.5 |
|
|
|
193.4 |
|
|
| GROUP
CASH FLOW STATEMENT |
|
|
|
|
|
|
|
|
|
|
Net
cash inflow from operating activities
|
|
|
197.5 |
|
|
|
193.4 |
|
|
| Return
on investments and servicing of finance |
|
|
(5.7 |
) |
|
|
(6.0 |
) |
|
| Taxation
|
|
|
(43.1 |
) |
|
|
(37.0 |
) |
|
| Capital
expenditure and financial investment |
|
|
(48.5 |
) |
|
|
(52.2 |
) |
|
| Acquisitions
and disposals |
|
|
49.9 |
|
|
|
(162.6 |
) |
|
| Equity
dividends paid |
|
|
(50.0 |
) |
|
|
(46.6 |
) |
|
| Cash
flow before use of liquid resources and financing |
|
|
100.1 |
|
|
|
(111.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Management
of liquid resources |
|
|
7.9 |
|
|
|
5.4 |
|
|
| Financing
|
|
|
|
|
|
|
|
|
|
| Issue
of ordinary shares |
4.2 |
|
|
|
4.5 |
|
|
|
|
| (Decrease)/increase
in borrowings |
(127.7 |
) |
|
|
72.1 |
|
|
|
|
|
|
|
(123.5 |
) |
|
|
76.6 |
|
|
|
Decrease
in cash in the year
|
|
|
(15.5 |
) |
|
|
(29.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
| Reconciliation
of net cash to movement in net borrowings |
|
|
|
|
|
|
|
|
|
| Decrease
in cash in the year |
(15.5 |
) |
|
|
(29.0 |
) |
|
|
|
| Cash
outflow/(inflow) from borrowings |
127.7 |
|
|
|
(72.1 |
) |
|
|
|
| Cash
inflow from decrease in liquid resources |
(7.9 |
) |
|
|
(5.4 |
) |
|
|
|
| Change
in borrowings resulting from cash flows |
|
|
104.3 |
|
|
|
(106.5 |
) |
|
| Borrowings
assumed with acquisitions |
|
|
- |
|
|
|
(53.3 |
) |
|
| Currency
translation differences |
|
|
(1.0 |
) |
|
|
13.6 |
|
|
| Movement
in net borrowings in the year |
|
|
103.3 |
|
|
|
(146.2 |
) |
|
| Net
borrowings at 1 January |
|
|
(189.1 |
) |
|
|
(42.9 |
) |
|
| Net
borrowings at 31 December |
|
|
(85.8 |
) |
|
|
(189.1 |
) |
|
