Cash Flow: Full Year 2021

For the year ended 31 December 2021

? ?

Year ended
31 December 2021

Year ended
31 December 2020

? Note ? £m
Operating activities ? ? ?
Profit/(loss) for the year from continuing operations ? 76.1
(20.0)
Profit for the year from discontinued operations 7 5.7
2.0
? ? ? ?
Adjustments for: ? ? ?
Depreciation - property, plant and equipment ? 30.1
32.7
Depreciation - right-of-use assets ? 7.9
9.2
Amortisation ? 6.0
6.1
Net financing costs 5 9.2
11.9
Profit on disposal of business 2,4 (7.1)
(2.2)
Non-cash specific adjusting items included in operating profit ? 10.4
65.7
Share of profit from associate (net of income tax) ? (0.4)
(0.6)
Loss/(Profit) on sale of property, plant and equipment ? 0.3
(1.0)
Income tax expense 6 28.2
6.9
Equity-settled share-based payment expenses ? 4.5
0.7
Cash generated from operations before changes in working capital and provisions ? 170.9
111.4
(Increase)/decrease in trade and other receivables ?

(17.2)

36.1
Increase)/decrease in inventories ? (20.1)
18.4
(Increase)/decrease in trade and other payables ? 28.3
(19.7)
(Decrease)/increase in provisions ? (5.8)
17.8
Payments to defined benefit pension plans (net of IAS 19 pension charges) 14

(16.9)

(17.9)
Cash generated from operations ? 139.2
146.1
Interest paid - borrowings and overdrafts ? (6.1)
(7.5)
Interest paid - lease liabilities ? (2.3)
(2.8)
Income tax paid ? ?(25.4) (26.0)
Net cash from operating activities ? 105.4
109.8
Investing activities ? ? ?
Purchase of property, plant and equipment and software ? (31.6)
(30.0)
Purchase of investments ? (0.9)
(1.0)
Acquisition of business assets ? (1.9)
-
Proceeds from sale of property, plant and equipment ? 5.5
1.4
Interest received ? 0.8
0.9
Disposal of investments ? 14.2
-
Disposal of subsidiaries, net of cash disposed ? 0.8
5.3
Net cash from investing activities ? (13.1)
(23.4)
Financing activities ? ? ?
Purchase of own shares for share incentive schemes ? (5.9)
(1.8)
Proceeds from exercise of share options ? 0.3
0.4
Increase in borrowings ? -
7.9
Reduction and repayment of borrowings ? (72.3)
(49.8)
Payment of lease liabilities ? (8.6)
(9.9)
Dividends paid to shareholders of the Company ? (19.1)
(5.7)
Dividends paid to non-controlling interests ? (6.6)
(7.9)
Purchase of shares from non-controlling interest ? -
(2.8)
Net cash from financing activities ? (112.2)
(69.6)
Net increase in cash and cash equivalents ? (19.9)
16.8
Cash and cash equivalents at start of period ? 147.8
132.8
Effect of exchange rate fluctuations on cash held ? (0.6)
(1.8)
Cash and cash equivalents at year end 12 127.3
147.8

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