Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows
Unaudited Audited
6 months
ended
31 December
12 months
ended
30 June
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