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Cash flow statement

EnkaRetain and Drain – a roofing solution for a developing environmental trend

Cash flow statement

for the year ended 30 November

FY 2010/11
£m		 FY 2009/10
£m
Profit/loss for the year:    
Continuing operations 19.2 6.4
Discontinued operations 2.2 0.0
Total 21.4 6.4
Adjustments for:    
Depreciation and impairment 12.3 13.7
Amortisation 6.3 6.8
Income tax expense 4.2 3.8
Net financing costs 7.2 7.2
Non-recurring pension credits (6.0) 0.0
Partial EU fine refund (2.2) 0.0
Change in inventories (15.3) 0.1
Change in receivables (2.5) (7.4)
Change in payables 6.7 7.8
Change in provisions (3.1) (2.2)
(Gain)/loss on disposal of PP&E (0.2) 0.1
Equity settled share-based payment 0.9 0.3
Cash inflow from operations 29.7 36.6
Interest received 2.9 3.4
Interest paid (8.7) (8.1)
Tax paid (7.6) (3.3)
Pension contributions in excess of op chg (3.4) (3.2)
Net cash flow from operating activities 12.9 25.4
Acquisition of PP&E (12.1) (6.7)
Prepaid participation in joint ventures (1.7) 0.0
Intangible assets purchased (1.0) (0.7)
Disposal of PP&E 0.4 0.0
Net cash flow from investing activities (14.4) (7.4)
Outflow from redemption of borrowings (33.5) (48.4)
Inflow from new borrowings 66.7 38.3
Finance lease capital payments (0.2) (0.1)
Movement in cashflow hedges (16.9) (9.3)
Equity dividends paid (5.2) (3.7)
Net cash flow from financing activities 10.9 (23.2)
Net cash inflow/(outflow) 9.4 (5.2)
Cash and cash equivalents b/fwd 11.6 16.2
Fx differences (0.1) 0.6
Cash and cash equivalents c/fwd 20.9 11.6