Halma

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Half Year Report 2012/13

8 Notes to the Consolidated Cash Flow Statement

 

Unaudited
26 weeks to 29 September
2012
£000

Unaudited
26 weeks to
1 October
2011
£000

Audited
52 weeks to
31 March
2012
£000

Reconciliation of profit from operations to net cash inflow from operating activities

 

 

 

Profit on continuing operations before finance income and expense, share of results of associates and profit on disposal of continuing operations

55,929

51,940

109,910

Depreciation of property, plant and equipment

6,262

6,077

12,178

Amortisation of computer software

677

588

1,319

Amortisation of capitalised development costs and other intangibles

1,824

1,879

3,820

Amortisation of acquired intangible assets

6,429

5,145

10,352

Share-based payment expense in excess of amounts paid

1,378

1,250

2,432

Additional payments to pension scheme

(3,346)

(3,160)

(6,419)

Loss/(profit) on sale of property, plant and equipment and computer software

13

(64)

(495)

Operating cash flows before movement in working capital

69,166

63,655

133,097

Increase in inventories

(3,021)

(7,504)

(3,777)

Decrease/(increase) in receivables

1,831

3,140

(1,190)

Decrease in payables

(7,543)

(9,553)

(2,671)

Cash generated from operations

60,433

49,738

125,459

Taxation paid

(11,383)

(13,167)

(27,772)

Net cash inflow from operating activities

49,050

36,571

97,687

 

 

 

 

Reconciliation of net cash flow to movement in net debt

 

 

 

(Decrease)/increase in cash and cash equivalents

(1,685)

(696)

3,038

Cash (inflow)/outflow from (drawdowns)/repayment of borrowings

(50,630)

(15,670)

17,594

Bank loan acquired

(1,438)

(1,144)

(1,144)

Loan notes issued

(2,515)

Exchange adjustments

868

(1,438)

(1,119)

 

(55,400)

(18,948)

18,369

Net debt brought forward

(18,709)

(37,078)

(37,078)

Net debt carried forward

(74,109)

(56,026)

(18,709)

 

 

 

 

Analysis of net debt

 

 

 

Cash and cash equivalents

43,000

41,674

45,305

Loan notes falling due within one year*

(2,515)

Bank loans falling due within one year

(2,051)

Bank loans falling due after more than one year

(114,594)

 (95,649)

(64,014)

 

(74,109)

 (56,026)

(18,709)

* The loan notes were issued on 6 June 2012 and are convertible at par into cash at any time between six and twelve months from date of issue.