Consolidated cash flow statement
For the year ended 31 March 2010
| Notes | Year to 31.3.2010 £m |
Year to 31.3.2009 £m |
|
| Operating activities | |||
| Reconciliation of profit before interest to net cash flows from operating | |||
| activities | |||
| Profit on ordinary activities before interest | 275.8 | 273.6 | |
| Depreciation | 105.5 | 100.7 | |
| Other non-cash charges and credits | (5.7) | (4.3) | |
| Net credit for provisions, less payments | (0.3) | (0.3) | |
| Difference between pension contributions paid and amounts recognised in the | |||
| income statement | 10.3 | 7.9 | |
| (Increase)/decrease in inventories | (0.1) | 0.2 | |
| Increase in trade and other receivables | (5.0) | (8.6) | |
| Increase/(decrease) in trade and other payables | 0.4 | (0.3) | |
| Cash generated from operations | 380.9 | 368.9 | |
| Interest paid | (114.8) | (120.6) | |
| Income taxes paid | (35.7) | (29.6) | |
| Net cash flows from operating activities | 230.4 | 218.7 | |
| Investing activities | |||
| Interest received | 8.8 | 12.0 | |
| Capital grants received | 10.1 | 11.2 | |
| Proceeds on disposal of property, plant and equipment | 0.3 | 1.2 | |
| Dividends received from jointly controlled entities | 0.6 | 0.8 | |
| Short term cash deposits | 144.8 | (160.6) | |
| Maturity of investments | 1.4 | 1.7 | |
| Purchase of property, plant and equipment | (220.6) | (231.8) | |
| Net cash flows from investing activities | (54.6) | (365.5) | |
| Financing activities | |||
| New borrowings | - | 141.4 | |
| Purchase of treasury shares | - | (1.7) | |
| Dividends paid to minority interests | - | (0.1) | |
| Dividends paid to equity shareholders | (66.7) | (64.0) | |
| Repayment of borrowings | (20.9) | (95.9) | |
| Payment of principal under hire purchase contracts and finance leases | (7.2) | (7.0) | |
| Net cash flows from financing activities | (94.8) | (27.3) | |
| Increase/(decrease) in cash and cash equivalents | 81.0 | (174.1) | |
| Cash and cash equivalents at start of year | 15 | 92.3 | 266.4 |
| Cash and cash equivalents at end of year | 15 | 173.3 | 92.3 |
| Cash and cash equivalents at end of year | 15 | 173.3 | 92.3 |
| Short term cash deposits | 15 | 15.8 | 160.6 |
| Total cash and cash equivalents and short term cash deposits | 189.1 | 252.9 | |