Unaudited | Audited | |||
6 months ended 31 December |
12 months ended 30 June |
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Note |
2018 £m |
2017 £m |
2018 £m |
|
Cash flows from operating activities |
||||
Operating profit | 187 | 175 | 382 | |
Depreciation and amortisation | 1 | 1 | 3 | |
Adjustment for non-cash items | (1) | (2) | (6) | |
Operating profit before changes in working capital and provisions | 187 | 174 | 379 | |
Decrease/(increase) in trade and other receivables | 1 | 3 | (5) | |
Increase in inventories | (40) | (111) | (175) | |
(Decrease)/increase in trade and other payables | (3) | 32 | 76 | |
Increase in provisions | - | - | 1 | |
Cash inflow generated from operations | 145 | 98 | 276 | |
Interest paid | (1) | (2) | (4) | |
Tax paid | (35) | (32) | (74) | |
Net cash inflow from operating activities | 109 | 64 | 198 | |
Cash flows from investing activities | ||||
Acquisition of software, property, plant and equipment | (1) | (1) | (2) | |
Interest received | - | 3 | - | |
Net receipts from joint ventures | - | 13 | 26 | |
Net cash (outflow)/inflow from financing activities | (1) | 15 | 24 | |
Cashflows from financing activities | ||||
Issue of bank borrowings | 1 | 80 | 5 | |
Repayment of bank borrowings | (5) | (90) | (90) | |
Purchase of own shares | - | - | (12) | |
Dividends paid | 3 | (70) | (41) | (74) |
Net cash outflow from financing activities | (74) | (51) | (171) | |
Increase in net cash and cash equivalents | 34 | 28 | 51 | |
Net cash and cash equivalents at the beginning of the period | 68 | 17 | 17 | |
Net cash and cash equivalents at the end of the period | 8 | 102 | 45 | 68 |