Condensed consolidated cash flow statement
For the year to 31 December 2010
| Year to 31 December 2010 £m |
Year to 31 December 2009 £m |
|
|---|---|---|
| Cash flows from operating activities: | ||
| Profit for the period | 115.3 | 74.1 |
| Tax charge recognised in profit or loss | 38.6 | 3.7 |
| Finance income | (6.0) | (4.8) |
| Finance costs | 39.2 | 55.0 |
| Depreciation charge | 4.5 | 6.3 |
| Amortisation of intangible assets | 0.3 | 0.3 |
| Impairment of intangible assets | 4.6 | 4.0 |
| Share of results of jointly controlled entities | 0.5 | 0.5 |
| Profit on disposal of property, plant and equipment | (1.3) | (0.6) |
| Loss on disposal of assets held for sale | 0.1 | - |
| Share-based payment charge | 3.4 | 3.6 |
| Exceptional items | (63.0) | (74.8) |
| Other non-cash items | 1.5 | 3.5 |
| 137.7 | 70.8 | |
| Movements in working capital: | ||
| Decrease in inventories | 194.8 | 501.5 |
| Decrease in trade and other receivables | 5.5 | 24.9 |
| Increase / (decrease) in trade and other payables | 25.9 | (164.5) |
| Increase in available for sale financial assets | (47.2) | (41.8) |
| Cash generated from operations | 316.7 | 390.9 |
| Interest paid | (30.1) | (45.9) |
| Payments on cancellation of swaps | (1.6) | - |
| Make-whole fees on early redemption of senior loan notes | (13.4) | - |
| Interest received | 1.4 | 7.8 |
| Receipts on cancellation of swaps | 7.4 | - |
| Tax (paid) / received | (54.9) | 0.3 |
| Net cash inflow from operating activities | 225.5 | 353.1 |
| Cash flows from investing activities: | ||
| Received in respect of jointly controlled entities | - | 0.1 |
| Purchase of property, plant and equipment | (3.3) | (1.2) |
| Proceeds from sale of property, plant and equipment | 3.0 | 4.8 |
| Proceeds from sale of assets held for sale | 0.4 | - |
| Net cash inflow from investing activities | 0.1 | 3.7 |
| Cash flows from financing activities: | ||
| Repayment of borrowings | (52.7) | (173.1) |
| Early redemption of senior loan notes | (174.4) | - |
| Financing transaction costs | - | (21.4) |
| Finance lease principal payments | (0.7) | (1.2) |
| Own shares purchased | - | (0.2) |
| Dividends paid | (9.0) | - |
| Net cash outflow from financing activities | (236.8) | (195.9) |
| (Decrease) / increase in net cash and cash equivalents | (11.2) | 160.9 |
| Cash and cash equivalents at the beginning of the year | 138.0 | (22.9) |
| Cash and cash equivalents at the end of the year | 126.8 | 138.0 |