Group Cash Flow Statement

For the period ended 25 March 2017

View De La Rue 2015/16 Final Results to 25 March 2017

 
Notes
2017
£m
2016
£m
Cash flows from operating activities      
Profit before tax*   51.8 20.8
Adjustments for:      
Finance income and expense   12.0 12.1
Depreciation   24.3 23.0
Amortisation   2.5 3.2
Decrease in inventory   3.4 5.0
Increase/(decrease) in trade and other receivables   (4.6) (2.0)
Increase/(decrease) in trade and other payables   (11.9) 11.4
Increase/(decrease) in reorganisation provisions   (3.6) 0.4
Special pension fund contributions   (14.6) (19.1)
Loss/(profit) on disposal of property, plant, equipment and software intangibles   1.4 (7.6)
Asset impairment   - 10.8
Loss in disposal of discontinued operations   4.1 -
Other non-cash movements   (0.5) 0.9
Cash generated from operating activities   64.3 63.6
Tax paid   (5.7) (4.7)
Net cash flows from operating activities   58.6 54.2
Cash flows from investing activities      
Proceeds from sale of discontinued operations   2.1 -
Transaction costs relating to sale of discontinued operations   (2.5) -
Purchases of property, plant, equipment and software intangibles   (24.0) (25.0)
Development assets capitalised   (2.1) (3.0)
Acquisition of subsidiary (net of cash acquired)   (17.9) -
Proceeds from sale of property, plant and equipment   0.2 9.9
Net cash flows from investing activities   (44.2) (18.1)
Net cash flows before financing activities   14.4 36.1
Cash flows from financing activities      
Proceeds from issue of share capital   1.2 0.3
Proceeds from/(repayments of) borrowings   (12.4) 3.6
Interest received   - 0.1
Interest paid   (4.2) (4.2)
Dividends paid to shareholders   (25.4) (25.3)
Dividends paid to non-controlling interests   (0.3) (0.3)
Net cash flows from financing activities   (41.1) (25.8)
Net increase/(decrease) in cash and cash equivalents in the year   (26.7) 10.3
Cash and cash equivalents at the beginning of the year   37.9 28.9
Exchange rate effects   - (1.3)
Cash and cash equivalents at the end of the year   11.2 37.9
Cash and cash equivalents consist of:      
Cash at bank and in hand 8 13.2 40.5
Short term bank deposits 8 2.2 -
Bank overdrafts 8 (4.2) (2.6)
  8 11.2 37.9

*Profit before tax includes continuing and discontinued operations.

Notes to the above table