Cash flow

Consolidated cash flow statement

for the year ended 31 December 2010

2010
£m		 2009
£m
Cash flow from operating activities
Profit before income tax 225.2 216.0
Adjustments:
   depreciation 25.5 23.5
   intangible amortisation and acquisition related costs 51.0 41.8
   share based payments 4.7 4.6
Working capital movement (12.7) 17.5
Finance income (20.3) (16.8)
Finance cost 50.8 54.7
Provisions and pensions (19.1) (17.4)
Other 2.5 (1.1)
Cash generated from operations 307.6 322.8
Cash outflow from acquisition related costs (5.6)  
Income tax paid (79.7) (75.0)
Cash inflow from operating activities 222.3 247.8
     
Cash flow from investing activities
Interest received 2.6 1.6
Purchase of property, plant and equipment (23.4) (23.9)
Sale of property, plant and equipment 1.3 3.0
Purchase of businesses (105.0) (6.4)
Cash outflow from investing activities (124.5) (25.7)
     
Cash flow from financing activities
Interest paid (33.8) (37.0)
Dividends paid (66.1) (62.3)
Increase/(decrease) in loans 15.1 (131.5)
Realised gains/(losses) on foreign exchange contracts 5.3 (7.3)
Net proceeds from employee shares 11.8 3.5
Cash outflow from financing activities (67.7) (234.6)
     
Exchange gain/(loss) on cash and cash equivalents 1.8 (2.0)
     
Increase/(decrease) in cash and cash equivalents 31.9 (14.5)
     
Cash and cash equivalents at start of year 43.0 57.5
Increase/(decrease) in cash and cash equivalents 31.9 (14.5)
Cash and cash equivalents at end of year 74.9 43.0