Consolidated Statement of Cash Flow

For the year ended 31 December 2016
 
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  2016 2015 1
  £m £m
Operating activities    
Profit for the period 58.5 38.1
Adjustments for:    
       Depreciation 29.5 27.1
       Amortisation 7.9 7.1
       Net financing costs 20.0 18.1
       Loss on disposal of business - 6.1
       Share of profit from associate (net of income tax) (0.6) (0.3)
       Profit on sale of property, plant and equipment (0.4) (0.4)
       Income tax expense 29.4 20.9
       Non-cash operating costs relating to restructuring - 0.2
       Non-cash specific adjusting items included in operating profit 1.1 15.5
       Equity-settled share-based payment expenses 0.8 1.4
Cash generated from operations before changes in working capital and provisions 146.2 133.8
     
(Increase)/decrease in trade and other receivables (6.1) 15.5
Decrease/(increase) in inventories 1.4 (4.7)
(Decrease)/increase in trade and other payables (0.1) 5.71
Decrease in provisions (5.2) (3.4)
Payments to defined benefit pension plans (14.5) (13.0)
Cash generated from operations 121.7 133.9
     
Interest paid (15.3) (13.4)
Income tax paid (22.2) (29.9)
Net cash from operating activities 84.2 90.6
     
Investing activities    
Purchase of property, plant and equipment (39.5) (63.5)
Forward contracts used in net investment hedging (12.3) 4.9
Purchase of investments (1.0) -
Proceeds from sale of property, plant and equipment 1.1 0.8
Loan repaid by associate 2.1 -
Interest received 2.2 2.2
Loan made to purchaser of business - (1.5)
Disposal of subsidiaries, net of cash disposed - (0.1)
Investment made by non-controlling interests - 0.5
Net cash from investing activities (47.4) (56.7)
     
Financing activities    
Purchase of own shares for share incentive schemes (0.2) (2.9)
Net increase/(decrease) in borrowings 63.4 (8.5)
Payment of finance lease liabilities (0.3) (0.2)
Dividends paid - to external plc shareholders (31.4) (31.4)
Proceeds from unclaimed dividends 0.2 -
Dividends paid to non-controlling interests (4.4) (3.8)1
Net cash from financing activities 27.3 (46.8)
     
Net increase in cash and cash equivalents 64.1 (12.9)
Cash and cash equivalents at start of period 49.8 63.0
Effect of exchange rate fluctuations on cash held 8.5 (0.3)
Cash and cash equivalents at period end 122.4 49.8
 1 2015 has been re-presented for the reclassification of £3.8 million of dividends paid to non-controlling interests from '(decrease)/increase in trade and other payables' to 'dividends paid to non-controlling interests'.