Group Cash Flow Statement

for the year ended 30 September 2012

2012 2011
Notes €’000 €’000
Cash flows from operating activities
Profit before tax 58,986 44,165
Finance income 4 (8,012) (8,322)
Finance expense 4 16,626 16,657
Exceptional item 5 - 9,752
Operating profit (pre-exceptional item) 67,600 62,252
Share of joint ventures profit after tax 12 (6,007) (1,134)
Gain on previously held interest - (2,530)
Gain on sale of joint venture (300) -
Impairment of property, plant & equipment 9 - 672
Depreciation charge 9 15,824 14,884
Profit on disposal of property, plant and equipment 3 (106) (87)
Amortisation of intangible assets 11 13,512 14,534
Share-based payment expense 27 766 1,154
(Increase)/decrease in inventories (11,245) 2,075
(Increase) in trade and other receivables (7,264) (9,953)
Increase/(decrease) in trade payables, provisions and other payables 34,391 (6,940)
Exceptional item 23 (5,447) (2,956)
Interest paid (9,477) (10,824)
Income taxes paid (14,663) (9,371)
Net cash inflow from operating activities 77,584 51,776
Cash flows from investing activities
Interest received 731 1,835
Purchase of property, plant and equipment 9 (63,366) (17,001)
Proceeds from disposal of property, plant and equipment 1,362 201
Acquisition of subsidiaries (net of cash and cash equivalents acquired) 26 (102,341) (12,048)
Acquisition consideration refunded in respect of prior years - 984
Deferred acquisition consideration paid 23 (1,741) (7,651)
Investment in joint ventures 12 - (9,368)
Proceeds from disposal of joint venture 9,570 -
Dividends received from joint ventures 12 4,248 2,303
Net cash outflow from investing activities (151,537) (40,745)
Cash flows from financing activities
Proceeds from issue of shares
(including share premium thereon, net of scrip dividend)
1,724 4,031
Shares purchased under share buyback programme (1,040) (10,467)
Proceeds from interest-bearing loans and borrowings 54,636 -
Repayments of interest-bearing loans and borrowings (200) (34,048)
Decrease in finance leases (32) (471)
Dividends paid to equity holders of the Company 7 (20,845) (17,584)
Net cash inflow/(outflow) from financing activities 34,243 (58,539)
Net decrease in cash and cash equivalents (39,710) (47,508)
Translation adjustment 2,295 (448)
Cash and cash equivalents at beginning of year 108,256 156,212
Cash and cash equivalents at end of year 70,841 108,256
Cash and cash equivalents is comprised of:
Cash at bank and short term deposits 71,919 108,256
Bank overdrafts (1,078) -
70,841 108,256