| Cash flows from operating activities |
|
|
|
| Cash generated from operations |
25 |
66.0 |
68.5 |
| Interest paid |
|
(7.8) |
(7.1) |
| Interest received |
|
– |
0.2 |
| Tax paid |
|
(14.9) |
(15.5) |
| Net cash from operating activities |
|
43.3 |
46.1 |
|
|
|
|
| Cash flows from investing activities |
|
|
|
| Acquisition of subsidiaries |
|
(1.0) |
(44.9) |
| Net of cash and overdraft acquired with subsidiaries |
|
– |
(1.9) |
| Purchase of property, plant and equipment and intangible assets |
|
(15.4) |
(15.6) |
| Sale of property, plant and equipment |
|
– |
0.2 |
| Net cash used in investing activities |
|
(16.4) |
(62.2) |
|
|
|
|
| Cash flows from financing activities |
|
|
|
| Issue of ordinary share capital |
19 |
0.6 |
1.5 |
| Proceeds of borrowings |
|
– |
18.6 |
| Repayment of short term borrowings |
|
(11.2) |
– |
| Capital element of finance lease payments |
|
(0.4) |
(0.4) |
| Dividends paid |
7 |
(9.2) |
(7.8) |
| Net cash from financing activities |
|
(20.2) |
11.9 |
|
|
|
|
| Net increase/(decrease) in cash and cash equivalents |
|
6.7 |
(4.2) |
|
|
|
|
| Cash and cash equivalents at 1 April |
|
4.1 |
8.3 |
|
|
|
|
| Cash and cash equivalents at 31 March |
|
10.8 |
4.1 |
|
|
|
|
|
|
|
|
| Free cash flow is defined as: |
|
|
|
| Net cash from operating activities |
|
43.3 |
46.1 |
| Purchase of property, plant and equipment and Intangible assets |
|
(15.4) |
(15.6) |
| Sale of property, plant and equipment |
|
– |
0.2 |
| Free cash flow |
|
27.9 |
30.7 |
| Net cost of acquisitions |
|
(1.0) |
(46.8) |
| Issue of ordinary share capital |
|
0.6 |
1.5 |
| Dividends paid |
|
(9.2) |
(7.8) |
| Movement in net debt |
|
18.3 |
(22.4) |
| Opening net debt |
|
(104.3) |
(81.9) |
| Closing net debt |
|
(86.0) |
(104.3) |
Chief Executive's Review