Carphone Warehouse 2008 Annual Report Download - page 56

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44 The Carphone Warehouse Group PLC Annual Report 2008
For the 52 weeks ended 29 March 2008
52 weeks52 weeks
ended ended
29March 200831 March 2007
Notes £m£m
Operating activities
Profit before interest and taxation 166.9 94.7
Adjustments for non-cash items:
Share-based payments 6 9.6 10.4
Non-cash movements on joint ventures and associates 3.6 8.0
Depreciation 81.1 65.9
Amortisation and goodwill expense 196.9 123.5
Operating cash flows before movements in working capital 458.1 302.5
Profit on disposal of property, plant and equipment, investments and intangible assets (5.2)(3.7)
Increase in trade and other receivables (94.8)(175.4)
Increase in stock (58.4)(26.4)
Increase in trade and other payables 190.9 180.4
Decrease in provisions (22.5)(21.1)
Cash generated from operations468.1 256.3
Taxation paid (11.1)(6.5)
Net cash generated from operating activities457.0 249.8
Investing activities
Interest received 9.4 6.1
Proceeds from sale of property, plant and equipment, investments and intangible assets 27.6 13.5
Proceeds from disposal of subsidiary 11.1 –
Acquisition of subsidiaries, net of cash acquired 14 (72.9)(258.3)
Acquisition of intangible assets (228.8)(148.1)
Acquisition of property, plant and equipment (197.3)(161.4)
Acquisition of non-current asset investments (0.3)–
Investment in joint ventures and associates (12.1)(8.3)
Cash flows from investing activities(463.3)(556.5)
Financing activities
Proceeds from the issue of share capital 49.2 8.4
Net (purchase) sale of own shares (35.2)0.6
Proceeds from borrowings 25 38.5 374.1
Interest paid (53.3)(32.4)
Receipts from current asset investments 7.9 2.3
Dividends paid 9 (31.4)(24.1)
Cash flows from financing activities(24.3)328.9
Net (decrease) increase in cash and cash equivalents (30.6)22.2
Cash and cash equivalents at the start of the period 98.9 77.0
Effect of exchange rate fluctuations (0.4)(0.3)
Cash and cash equivalents at the end of the period 25 67.9 98.9
Cash and cash equivalents for the purposes ofthis statementcomprise:
Cash and cash equivalents 20 87.9 111.1
Bank overdrafts 20 (20.0)(12.2)
67.9 98.9
Consolidated Cash Flow Statement