Cash flow

Consolidated cash flow statement

for the year ended 31 December 2012

2012
£m		 2011
£m
Cash flow from operating activities  
Profit before income tax 269.3 193.7
Adjustments:  
   depreciation 23.0 25.4
   intangible amortisation and acquisition related costs 58.6 56.4
   share based payments 5.7 5.3
   disposal of business (4.0) 56.0
Working capital movement (22.4) 31.4
Finance income (22.1) (21.8)
Finance cost 50.6 51.4
Provisions (6.4) 1.7
Pensions (7.8) (12.1)
Other 4.6 2.7
Cash generated from operations before acquisition related costs 349.1 390.1
Cash outflow from acquisition related costs (20.2) (12.1)
Income tax paid (63.6) (63.4)
Cash inflow from operating activities 265.3 314.6
     
Cash flow from investing activities  
Interest received 2.2 2.9
Purchase of property, plant and equipment (23.0) (22.6)
Sale of property, plant and equipment 2.8 1.7
Purchase of businesses (234.5) (149.2)
Disposal of business - 30.6
Cash outflow from investing activities (252.5) (136.6)
     
Cash flow from financing activities  
Interest paid (32.8) (33.5)
Dividends paid (85.7) (68.9)
Increase/(decrease) in loans 123.8 (90.3)
Realised losses on foreign exchange contracts (0.9) (0.2)
Net purchase of employee shares (3.7) (12.6)
Cash inflow/(outflow) from financing activities 0.7 (205.5)
     
Exchange loss on cash and cash equivalents (2.7) (2.4)
     
Increase/(decrease) in cash and cash equivalents 10.8 (29.9)
     
Cash and cash equivalents at start of year 45.0 74.9
Increase/(decrease) in cash and cash equivalents 10.8 (29.9)
Cash and cash equivalents at end of year 55.8 45.0