Consolidated and Parent Company statement of cash flows
Year ended 31 March 2010
| Consolidated | Parent Company | ||||
|---|---|---|---|---|---|
| Note | 2010 £m |
2009 £m |
2010 £m |
2009 £m |
|
| Cash generated from operations | 33 | 145.9 | 129.1 | – | – |
| Dividends received from joint ventures | 0.1 | 2.9 | – | – | |
| Interest paid | (22.1) | (30.3) | – | – | |
| Taxation paid | (10.5) | (9.2) | – | – | |
| Net cash flow from operating activities | 113.4 | 92.5 | – | – | |
| Cash flow from investing activities | |||||
| Capital expenditure | (26.9) | (49.3) | – | – | |
| Proceeds from disposal of property, plant and equipment | 10.2 | 22.4 | – | – | |
| Purchase of businesses (net of cash and debt acquired) | 30 | (1.9) | (1.3) | – | – |
| Purchase of investment in subsidiary | 14 | – | – | – | (228.9) |
| Sale of investment in joint venture | 1.2 | 59.9 | – | – | |
| Sale of businesses | 1.2 | 3.2 | – | – | |
| Dividends received from subsidiaries | – | – | – | 25.0 | |
| Amounts received from/(paid to) subsidiaries | – | – | 151.0 | (16.4) | |
| Net cash used in investing activities | (16.2) | 34.9 | 151.0 | (220.3) | |
| Cash flow from financing activities | |||||
| Repayment and cancellation of term loans and facilities | – | (146.3) | – | (59.6) | |
| New facilities advanced | – | 132.9 | – | 59.6 | |
| Net (repayment)/advance under revolving credit facilities | (150.6) | (11.3) | (127.0) | 23.6 | |
| Dividends paid | 7 | (24.3) | (32.3) | (24.3) | (32.3) |
| Sale of convertible loan to subsidiary | 32 | – | – | – | 228.9 |
| Proceeds from issue of shares (net of issue costs) | 26 | – | – | – | 0.5 |
| Cash gift to ESOP | 26 | – | – | – | (0.5) |
| Finance lease repayments | 34 | (2.0) | (2.5) | – | – |
| Net cash used in financing activities | (176.9) | (59.5) | (151.3) | 220.2 | |
| Net increase/(decrease) in cash and cash equivalents | (79.7) | 67.9 | (0.3) | (0.1) | |
| Cash and cash equivalents at beginning of year | 34 | 107.5 | 38.9 | 0.3 | 0.4 |
| Exchange impact on cash and cash equivalents | 34 | (0.3) | 0.7 | – | – |
| Cash and cash equivalents at end of year | 34 | 27.5 | 107.5 | – | 0.3 |
| Analysed: Reported as cash and cash equivalents | 19 | 20.0 | 107.5 | – | 0.3 |
| Reported as part of disposal group | 8 | 7.5 | – | – | – |
| Memo: Net debt at end of year | 34 | (337.2) | (415.8) | (352.6) | (485.6) |