Year ended
31 Dec 2013
£m | | | Half year to
30 June 2014
£m | Half year to
30 June 2013
£m |
|---|
| 73.1 | | Profit for the period | 40.2 | 36.0 |
| | Adjustments for: | | |
| (0.1) | | Investment revenue | (0.1) | (0.1) |
| 3.8 | | Finance costs | 1.7 | 1.9 |
| 25.3 | | Taxation | 12.4 | 12.5 |
| 51.9 | | Depreciation of property, plant and equipment | 25.3 | 26.1 |
| 5.5 | | Amortisation of intangible assets | 2.4 | 2.6 |
| (0.1) | | Profit on disposal of property, plant and equipment | (0.2) | – |
| 3.6 | | Share-based payments | 1.9 | 3.0 |
| 5.1 | | Impairment of fixed assets | 0.8 | 1.6 |
| 168.1 | | EBITDA* | 84.4 | 83.6 |
| (0.3) | | Increase in inventories | – | (0.3) |
| 0.2 | | (Increase) / decrease in receivables | (8.7) | (12.8) |
| (4.3) | | (Decrease) / increase in payables | (2.5) | 4.4 |
| (1.8) | | Increase / (decrease) in provisions | 1.1 | (2.8) |
| 161.9 | | Cash generated by operations | 74.3 | 72.1 |
| – | | Cash inflow from settlement of derivative financial instruments | – | 0.1 |
| (22.5) | | Income taxes paid | (9.4) | (14.3) |
| 139.4 | | Net cash from operating activities | 64.9 | 57.9 |
* Earnings before interest, tax, depreciation, amortisation, impairment, profit or loss on disposal of property, plant and equipment and share-based payments.
Cash and cash equivalents comprise:
| | | | |
|---|
| 16.9 | | Cash and bank balances | 11.6 | 8.2 |
| (1.6) | | Bank overdrafts (included in borrowings) | (5.9) | (11.1) |
| 15.3 | | | 5.7 | (2.9) |