Notes Forming Part of the Consolidated Financial Statements

Operating activities

Profit for the year

60.2

57.8

Adjustments for:

Finance costs (net)

3.4

0.8

Income tax expense

1.3

1.4

Retirement benefit obligations – current service cost

1.5

1.7

Retirement benefit obligations – curtailment gain

(0.1)

(0.5)

Retirement benefit obligations – payments

Pension payments in excess of service costs

(1.3)

(1.6)

Depreciation of property, plant and equipment

27.5

21.9

Amortisation of intangible assets

0.2

0.2

Depreciation of right to use asset

9.1

-

Share-based payment expense

1.9

2.4

Gain on disposal of property, plant and equipment

(15.1)

(15.1)

Increase in provisions

0.3

0.7

Operating cash flows before movements in working capital

87.5

68.5

Decrease / (increase) in inventories

0.2

(0.6)

Increase in receivables

(4.7)

(4.6)

Increase in payables

Working capital movements

2.0

(3.8)

Cash generated from operations

89.5

64.7

Income taxes paid

(1.2)

(2.2)