Consolidated Cash Flow Statement

For the financial year ended 29 February 2020




2020

2019


Notes

€m

€m

CASH FLOWS FROM OPERATING ACTIVITIES




Group profit for the year


9.1

72.1

Finance income

6

(0.5)

(0.1)

Finance expense

6

20.3

15.7

Income tax expense

7

2.5

9.7

Profit on share of equity accounted investments

13

(0.7)

(0.7)

Impairment of intangible asset

12

36.6

-

Impairment of property, plant & equipment

5

1.0

0.4

Depreciation of property, plant & equipment

11,18

30.3

13.1

Amortisation of intangible assets

12

2.5

2.4

Profit on disposal

5

(0.9)

-

Net profit on disposal of property, plant & equipment


(0.2)

(0.1)

Charge for equity settled share-based payments

4

2.5

1.9

Pension contributions paid plus amount charged to Income Statement

22

0.3

0.7



102.8

115.1





Decrease/(increase) in inventories


38.6

(34.2)

(Increase)/decrease in trade & other receivables


(4.8)

137.2

Increase/(decrease) in trade & other payables


51.9

(81.8)

Increase/(decrease) in provisions


1.9

(2.2)



190.4

134.1





Interest received


0.5

0.1

Interest and similar costs paid


(17.9)

(12.6)

Income taxes paid


(8.0)

(8.6)

Net cash inflow from operating activities


165.0

113.0





CASH FLOWS FROM INVESTING ACTIVITIES




Purchase of property, plant & equipment

11

(15.3)

(19.0)

Purchase of intangible assets

12

(4.5)

(3.1)

Net proceeds on disposal of property, plant & equipment


0.4

0.1

Proceeds from sale of equity accounted investment

5

6.1

-

Sale of business


(1.0)

-

Cash outflow re acquisition of equity accounted investments

13

(11.2)

-





Net cash outflow from investing activities


(25.5)

(22.0)





CASH FLOWS FROM FINANCING ACTIVITIES




Proceeds from exercise of share options/equity Interests


0.9

0.2

Drawdown of debt


192.6

736.0

Repayment of debt


(280.7)

(786.2)

Payment of lease liabilities

18

(18.6)

-

Payment of issue costs


(0.5)

(5.0)

Shares purchased to satisfy share option entitlements


(0.5)

(0.2)

Shares purchased under share buyback programme

24

(23.0)

(1.9)

Dividends paid

8

(29.7)

(36.0)





Net cash outflow from financing activities


(159.5)

(93.1)





Decrease in cash


(20.0)

(2.1)





Reconciliation of opening to closing cash




Cash at beginning of year


144.4

145.5

Translation adjustment


(1.0)

1.0

Net decrease in cash


(20.0)

(2.1)





Cash at end of financial year


123.4

144.4

A reconciliation of cash to net debt is presented in note 20 to the financial statements.