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Unaudited Audited
6 months
ended
31 December
12 months
ended
30 June
Note 2019
£m
2018
£m
2019
£m
Cash flows from operating activities
Operating profit 159 187 411
Depreciation and amortisation 3 1 3
Adjustment for non-cash items (3) (1) (7)
Decrease/(increase) in trade and other receivables  13 1 (6)
Increase in inventories (53) (40) (79)
(Decrease)/increase in trade and other payables (74) (3) 50
(Decrease)/increase in provisions - - (1)
Cash inflow generated from operations 45 145 371
Interest paid  (1) (1) (2)
Tax paid (77) (35) (77)
Net cash (outflow)/inflow from operating activities (33) 109 292
Cash flows from investing activities
Acquisition of software, property, plant and equipment (3) (1) (4)
Interest received - - 1
Net payments to joint ventures (2) - -
Net cash (outflow) from investing activities (5) (1) (3)
Cashflows from financing activities
Issue of bank borrowings 75 1 80
Repayment of bank borrowings (80) (5) (5)
Purchase of own shares - - (10)
Dividends paid 3 (72) (70) (218)
Net cash outflow from financing activities (77) (74) (153)
(Decrease)/increase in net cash and cash equivalents  (115) 34 136
Net cash and cash equivalents at the beginning of the period 204 68 68
Net cash and cash equivalents at the end of the period 8 89 102 204
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