| Group | Company | ||||
| Note |
2019 £m |
2018 £m |
2019 £m |
2018 £m |
|
| Cash flow from operating activities | |||||
| Operating profit/(loss) | 411 | 382 | (6) | (2) | |
| Depreciation and amortisation | 3 | 3 | - | - | |
| Adjustment for non-cash items | (7) | (6) | (2) | (2) | |
| (Increase)/decrease in trade and other receivables | (6) | (5) | 285 | 270 | |
| Increase in inventories | (79) | (175) | - | - | |
| Increase in trade and other payables | 50 | 76 | - | 3 | |
| (Decrease)/increase in provisions | (1) | 1 | - | - | |
| Cash inflow generated from operations | 371 | 276 | 277 | 269 | |
| Interest paid | (2) | (4) | (12) | (3) | |
| Tax paid | (77) | (74) | - | - | |
| Net cash inflow from operating activities | 292 | 198 | 265 | 266 | |
| Cash flows from investing activities | |||||
| Acquisition of software, property, plant and equipment | (4) | (2) | - | - | |
| Interest received | 1 | - | 1 | 4 | |
| Net receipts from joint ventures - continuing operations | - | 26 | - | - | |
| Net cash (outflow)/inflow from investing activities | (3) | 24 | 1 | 4 | |
| Cash flows from financing activities | |||||
| Issue of bank borrowings | 80 | 5 | 80 | 5 | |
| Repayment of bank borrowings | (5) | (90) | (5) | (90) | |
| Purchase of own shares | (10) | (12) | - | - | |
| Dividend paid | 5 | (218) | (74) | (218) | (74) |
| Net cash (outflow) from financing activities | (153) | (171) | (143) | (159) | |
| Increase in net cash and cash equivalents | 136 | 51 | 123 | 111 | |
| Net cash and cash equivalents at the beginning of the year | 68 | 17 | 89 | (22) | |
| Net cash and cash equivalents at the end of the year | 19 | 204 | 68 | 212 | 89 |
