For the year ended 31 December 2007
| Note | 2007 £m |
2006 £m |
|
|---|---|---|---|
| Cash flow from operating activities | |||
| 9 | Cash generated from operations | 149.1 | 106.8 |
| Interest received | 4.4 | 4.8 | |
| Interest paid | (4.1) | (9.9) | |
| Taxation paid | (35.9) | (23.9) | |
| Net cash flow from operating activities | 113.5 | 77.8 | |
 |
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| Cash flow from investing activities | |||
| 12 | Purchase of subsidiary undertakings, net of cash acquired | (26.2) | (13.5) |
| Disposal of associated undertaking | 2.4 | – | |
| Loan repayments received from associates | - | 1.5 | |
| Expenditure on development costs | (2.9) | (2.4) | |
| Purchase of property, plant and equipment and computer software | (47.7) | (24.5) | |
| Sale of property, plant and equipment and computer software | 3.3 | 12.2 | |
| Dividends received from associated undertakings | 1.2 | 2.6 | |
|
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| Net cash flow from investing activities | (69.9) | (24.1) | |
|
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| Cash flow from financing activities | |||
| Increase in short term borrowings (other than those repayable on demand) | 3.0 | 1.1 | |
| Decrease in short-term borrowings (other than those repayable on demand) | (1.0) | – | |
| Increase in long-term borrowings | 0.5 | 6.7 | |
| Decrease in long-term borrowings | (4.5) | (67.9) | |
| Repayment of capital element of finance leases | (0.6) | (0.9) | |
| Cash outflow from debt and lease financing | (2.6) | (61.0) | |
| (Increase) in cash on deposit | (0.1) | (0.2) | |
| Dividends paid to minority interests | (3.1) | (7.2) | |
| Issue of ordinary share capital (net of expenses) | - | 0.6 | |
|
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| Net cash flow from financing activities | (5.8) | (67.8) | |
| Currency variations on cash and cash equivalents and bank overdrafts | 4.1 | (0.2) | |
| Net movement in cash, cash equivalents and bank overdrafts | 41.9 | (14.3) | |
| Cash, cash equivalents and bank overdrafts at 1 January | 47.9 | 62.2 | |
| 8 | Cash, cash equivalents and bank overdrafts at 31 December | 89.8 | 47.9 |
Reconciliation of net cash flow to movement in net cash/(debt)
| 2007 £m |
2006 £m |
||
|---|---|---|---|
| Net movement in cash, cash equivalents and bank overdrafts | 41.9 | (14.3) | |
| Cash outflow from debt and lease financing | 2.6 | 61.0 | |
| Increase in cash on deposit | 0.1 | 0.2 | |
| Change in net cash/(debt) resulting from cash flows | 44.6 | 46.9 | |
| New finance leases | (0.1) | (0.4) | |
| Movement in interest payable accrual | 0.1 | 0.9 | |
| Currency variations on borrowings and cash deposits | 0.5 | 2.2 | |
| Movement in net cash/(debt) in the year | 45.1 | 49.6 | |
| Opening net cash/(debt) | 43.1 | (6.5) | |
| Closing net cash/(debt) | 88.2 | 43.1 | |
| Gross borrowings | (30.3) | (19.2) | |
| Cash at bank and in hand (including cash on deposit) | 118.5 | 62.3 | |
| Closing net cash | 88.2 | 43.1 | |
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