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For the 12 months ended 30 June

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
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