Consolidated statement of Cash Flows
for the year ended 31 January 2011
2011 £'000 |
Restated 2010 £'000 | |
|---|---|---|
| Cash flow from operating activities | ||
| Operating profit | 28,475 | 88,590 |
| Equity-settled share-based payment (credit)/expense | (2,007) | 2,391 |
| Depreciation and amortisation | 30,521 | 32,898 |
| Impairment of goodwill | 3,354 | – |
| Loss on disposal of non-current assets | 4,800 | 2,734 |
| Market value movement on financial instrument | 5 | 81 |
| 65,148 | 126,694 | |
| (Increase)/decrease in trade and other receivables | (236) | 6,869 |
| Decrease in inventories | 27,750 | 7,220 |
| Increase/(decrease) in trade and other payables | 38,623 | (87,860) |
| Increase in leasehold incentives | 198 | 1,757 |
| Cash generated from operations | 131,483 | 54,680 |
| Finance costs paid | (5,745) | (4,917) |
| Corporation tax paid | (14,359) | (36,626) |
| Net cash from operating activities | 111,379 | 13,137 |
| Cash flows from investing
activities |
||
| Purchase of property, plant and equipment | (9,763) | (24,927) |
| Purchase of intangible assets | (7,909) | (4,963) |
| Proceeds from sale of equipment | 2,396 | 455 |
| Finance income received | 375 | 538 |
| Net cash used in investing activities | (14,901) | (28,897) |
| Cash flows from financing activities | ||
| Proceeds from issue of share capital | 464 | 217 |
| Shares purchased for Trust | (1,926) | (1,893) |
| Payment of Term Loan | (8,330) | (63,330) |
| Proceeds from Term Loan | – | 50,000 |
| Payment of other long-term borrowings | (1,023) | (2,935) |
| Payment of finance lease liabilities | (475) | (419) |
| Dividends paid | (20,073) | (19,366) |
| Net cash used in financing activities | (31,363) | (37,726) |
| Net increase/(decrease) in net cash and cash equivalents | 65,115 | (53,486) |
| Cash and cash equivalents at beginning of period | 86,128 | 139,614 |
| Cash and cash equivalents at end of period | 151,243 | 86,128 |
The notes on pages 70 to 106 form part of these financial statements.
Extract from Annual Report and Accounts 2010-2011 – view the full report including notes
