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At a Glance
Financial Highlights
Chairman’s Statement
Group Business Review
Directors’ Report
Report of the Audit Committee
Board Report on Remuneration
Board of Directors and Advisors
Independent Auditors’ Report – Group Financial Statements
Consolidated Income Statement
Consolidated Balance Sheet
Consolidated Cash Flow Statement
Consolidated Statement of Recognised Income and Expense
Group Accounting Policies
Notes to the Group Financial Statements
Five Year Summary
Company Balance Sheet
Independent Auditors’ Report – Company Financial Statements
Company Accounting Policies
Notes to the Company Financial Statements
Principal Subsidiary Undertakings
Financial Calendar and Shareholder Information
Consolidated Cash Flow Statement
for the year ended 31 December 2007
2007
2006
Note
£m
£m
Net cash from operating activities
108.0
109.2
26
Investing activities
Purchases of property, plant and equipment
(72.5)
(59.5)
Proceeds on disposal of property, plant and equipment and intangible assets
6.6
4.8
Purchases of intangible fixed assets
(1.0)
(0.7)
Acquisition of investment in an associate
(0.2)
–
Acquisition of subsidiaries
(32.7)
(86.3)
Disposal of subsidiaries
–
0.1
Net cash used in investing activities
(99.8)
(141.6)
Financing activities
Interest received
3.4
2.9
Interest paid
(12.5)
(15.7)
Dividends paid
(22.6)
(20.5)
Dividends paid to a minority shareholder
(0.1)
(0.1)
Repayments of bank loans
(187.1)
(65.5)
Payments of obligations under finance leases
(1.9)
(1.8)
New bank loans raised
216.4
46.0
New obligations under finance leases
0.6
0.5
Proceeds on issue of ordinary share capital
3.1
1.9
Own shares purchased/settlement of share options
(8.6)
0.1
Net cash used in financing activities
(9.3)
(52.2)
Net decrease in cash and cash equivalents
(1.1)
(84.6)
Cash and cash equivalents at beginning of year
33.4
120.7
Effect of foreign exchange rate changes
2.0
(2.7)
Cash and cash equivalents at end of year
34.3
33.4