Cash flow

Consolidated cash flow statement

for the year ended 31 December 2009

2009
£m		 2008
£m
Cash flow from operating activities
Profit before income tax 216.0 206.9
Adjustments for non-cash items:
   depreciation 23.5 19.7
   intangible amortisation 41.8 36.0
   share based payments 4.6 5.3
Working capital movement 17.5 (15.9)
Finance income (16.8) (27.6)
Finance cost 54.7 65.2
Provisions and pensions (17.4) (15.8)
Other (1.1) (1.5)
Cash generated from operations 322.8 272.3
Income tax paid (75.0) (66.4)
Cash inflow from operating activities 247.8 205.9
Cash flow from investing activities
Interest received 1.6 7.0
Purchase of property, plant and equipment (23.9) (20.9)
Sale of property, plant and equipment 3.0 5.7
Purchase of businesses (6.4) (115.9)
Investment in associates – (0.5)
Cash outflow from investing activities (25.7) (124.6)
Cash flow from financing activities
Interest paid (37.0) (48.4)
Dividends paid (62.3) (59.9)
Decrease in short term loans (48.2) (76.7)
(Decrease)/increase in long term loans (83.3) 165.8
Realised losses on foreign exchange contracts (7.3) (62.5)
Net proceeds from/(purchase of) employee shares 3.5 (7.2)
Cash outflow from financing activities (234.6) (88.9)
Exchange (loss)/gain on cash and cash equivalents (2.0) 9.4
(Decrease)/increase in cash and cash equivalents (14.5) 1.8
Cash and cash equivalents at start of year 57.5 55.7
(Decrease)/increase in cash and cash equivalents (14.5) 1.8
Cash and cash equivalents at end of year 43.0 57.5