Carphone Warehouse 2013 Annual Report Download - page 55

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ANNUAL REPORT 2013 CARPHONE WAREHOUSE GROUP PLC 53
BUSINESS REVIEW GOVERNANCE FINANCIAL STATEMENTS
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEARS ENDED 31 MARCH 2013 AND 31 MARCH 2012
2013 2012
£m £m
Operating activities
Profit (loss) before investment income, interest and taxation 3.2 (53.7)
Adjustments for non-cash items:
Share-based payments 0.1 14.9
Non-cash movements on joint ventures (0.4) 34.1
Depreciation 1.3 1.0
Impairment 1.0 0.8
Profit on disposal of property, plant and equipment (3.3) —
Operating cash flows before movements in working capital 1.9 (2.9)
Decrease (increase) in trade and other receivables 18.9 (4.2)
Increase in trade and other payables 7.2 —
Decrease in provisions (2.5) (4.3)
Cash flows from operating activities 25.5 (11.4)
Taxation paid (0.6) (0.9)
Net cash flows from operating activities 24.9 (12.3)
Investing activities
Investment income received 0.3 813.2
Interest received 1.6 2.9
Proceeds on disposal of property, plant and equipment 40.5 —
Acquisition of property, plant and equipment (0.1) (0.5)
Net receipts from joint ventures 3.8 9.9
Cash flows from investing activities 46.1 825.5
Financing activities
Settlement of financial instruments (0.2) 1.5
Net purchase of own shares —(27.7)
Equity dividends paid (23.7) (253.6)
Shares redeemed (32.9) (556.9)
Interest paid —(0.2)
Repayment of VES loans —5.8
Cash flows from financing activities (56.8) (8 31.1)
Net increase (decrease) in cash and cash equivalents 14.2 (17.9)
Cash and cash equivalents at the start of the year 102.7 120.6
Cash and cash equivalents at the end of the year 116.9 102.7
The accompanying notes are an integral part of this Consolidated Cash Flow Statement.