Carphone Warehouse 2007 Annual Report Download - page 40

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Consolidated Cash Flow Statement
For the 52 weeks ended 31 March 2007
52 weeks ended 52 weeks ended
31 March 2007 1 April 2006
Notes £’000 £’000
Operating activities
Operating profit 94,720 86,710
Adjustments for non-cash items:
Share-based payments 10,410 10,665
Non-cash movements on joint ventures 8,034 –
Depreciation 65,908 49,585
Amortisation (before reorganisation costs) 122,961 69,125
Goodwill expense 529 1,825
Reorganisation costs –35,245
Operating cash flows before movements in working capital 302,562 253,155
Profit on disposal of property, plant and equipment and intangible assets (3,717) (1,013)
Increase in trade and other receivables (175,439) (138,086)
Increase in stock (26,437) (41,359)
Increase in trade and other payables 180,395 95,440
(Decrease) increase in provisions (21,097) 28,228
Cash generated from operations 256,267 196,365
Taxation paid (6,481) (13,739)
Net cash generated from operating activities 249,786 182,626
Investing activities
Proceeds from sale of property, plant and equipment and intangible assets 13,557 2,540
Acquisition of subsidiaries, net of cash acquired 14 (258,269) (157,835)
Interest received 6,054 8,090
Acquisition of intangible assets (148,060) (104,710)
Acquisition of property, plant and equipment (161,417) (89,425)
Acquisition of non-current asset investments –(1,659)
Investment in joint ventures (8,344) –
Cash flows from investing activities (556,479) (342,999)
Financing activities
Proceeds from the issue of share capital 8,454 10,684
Net sale (purchase) of own shares 599 (15,851)
Increase in borrowings 374,134 197,625
Interest paid (32,413) (13,799)
Receipts from current asset investments 2,353 56,619
Dividends paid (24,185) (17,443)
Cash flows from financing activities 328,942 217,835
Net increase in cash and cash equivalents 22,249 57,462
Cash and cash equivalents at the start of the period 76,957 19,352
Effect of exchange rate fluctuations (316) 143
Cash and cash equivalents at the end of the period 25 98,890 76,957
Cash and cash equivalents for the purposes of this statement comprise:
Cash and cash equivalents 20 111,060 98,093
Bank overdrafts 20 (12,170) (21,136)
98,890 76,957
The Carphone Warehouse Group PLC Annual Report 2007
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