GROUP CASH FLOW STATEMENT
For the year ended 29 February 2012

2012
€m
2011
€m
CASH FLOWS FROM OPERATING ACTIVITIES
Profit for the year attributable to equity shareholders 95.7 300.4
Finance income (0.7) (1.2)
Finance expense 5.8 10.6
Income tax expense 13.4 8.8
Depreciation of property, plant & equipment 20.2 21.2
Amortisation of intangible assets 0.1 0.1
Profit on disposal of property, plant & equipment (0.3) -
Revaluation of property, plant & equipment 2.0 -
Loss/(profit) on disposal of businesses 1.8 (224.7)
Exceptional retirement benefit obligations gain re:discontinued operations (0.1) (0.9)
Charge for share-based employee benefits 2.6 4.0
Pension contributions paid less amount charged to income statement (19.1) (4.9)
121.4 113.4
 
(Increase)/ decrease in inventories (4.5) 8.8
Decrease in trade & other receivables 10.6 9.0
Increase in trade & other payables 1.2 15.4
Decrease in provisions (0.1) (3.2)
128.6 143.4
 
Interest received 0.7 1.2
Interest and similar costs paid (4.6) (8.3)
Income taxes paid (4.4) (8.4)
 
Net cash inflow from operating activities 120.3 127.9
 
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant & equipment (18.9) (21.1)
Net proceeds on disposal of property, plant & equipment 1.2 -
Acquisition of brands/ deferred consideration paid (16.6) (31.7)
Proceeds on disposal of businesses 4.7 294.9
 
Net cash (outflow)/inflow from investing activities (29.6) 242.1
 
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of share options 1.5 1.2
Proceeds from exercise of Interests under Joint Share Ownership Plan 0.1 3.6
Repayment of debt (73.6) (348.2)
Dividends paid (18.5) (12.1)
 
Net cash outflow from financing activities (90.5) (355.5)
 
Net increase in cash & cash equivalents 0.2 14.5
Cash & cash equivalents at beginning of year 128.7 113.5
Translation adjustment (0.6) 0.7
 
Cash & cash equivalents at end of year 128.3 128.7
 
A reconciliation of cash & cash equivalents to net debt is presented in note 20 to the financial statements.  





On behalf of the Board
 
 
Sir B Stewart S Glancey
Chairman Group Chief Executive Officer
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