Cash flows from operating activities | | | |
Profit for the period | | 59,047 | 17,913 |
Adjustments for: | | | |
Depreciation | 12 | 2,197 | 2,795 |
Amortisation and impairment | 11 | 18,340 | 19,876 |
Loss on sale of property, plant and equipment | 6 | — | 462 |
(Profit)/related expenses on disposal of discontinued operations, net of tax | 30 | (38,611) | 1,357 |
Finance income | 3 | (302) | (73) |
Finance expense | 4 | 3,856 | 5,931 |
Equity settled share-based payment expense | 25 | 1,616 | 821 |
Income tax expense | | 2,322 | 4,167 |
Operating cash flow before changes in working capital | | 48,465 | 53,249 |
(Increase)/decrease in inventories | | (2,811) | 1,299 |
Increase in trade and other receivables | 30 | (21,100) | (9,456) |
(Decrease)/increase in trade and other payables | | (1,159) | 4,302 |
Cash generated from operating activities before interest and taxation | | 23,395 | 49,394 |
Interest paid | | (2,444) | (4,788) |
Income taxes paid | | (9,479) | (7,741) |
Net cash inflow from operating activities | | 11,472 | 36,865 |
Cash flows from investing activities | | | |
Proceeds from sale of property, plant and equipment | | — | 11 |
Interest received | | 260 | 74 |
Acquisition of subsidiaries | 29 | (5,938) | (10,333) |
Proceeds from disposal of discontinued operations | 30 | 91,202 | — |
Expenses related to the disposal of discontinued operations | 30 | (1,576) | — |
Purchase of property, plant and equipment | 12 | (4,927) | (3,665) |
Capitalised development expenditure | 11 | (1,065) | (1,584) |
Purchase of other intangible non-current assets | 11 | (1,381) | (3,871) |
Net cash inflow/(outflow) from investing activities | | 76,575 | (19,368) |
Cash flows from financing activities | | | |
Proceeds from the issue of share capital | 23 | 949 | 846 |
Own shares purchased | 24 | (606) | — |
Repayment of borrowings | | (81,470) | (5,653) |
Resetting of foreign currency borrowings | 20 | 1,558 | (2,289) |
Dividends paid | 9 | (12,579) | (11,170) |
Net cash outflow from financing activities | | (92,148) | (18,266) |
Net decrease in cash and cash equivalents | | (4,101) | (769) |
Cash and cash equivalents at start of period | 17 | 32,791 | 32,435 |
Exchange differences on cash and cash equivalents | | (1,917) | 1,125 |
Cash and cash equivalents at end of period | 17 | 26,773 | 32,791 |
Reconciliation of net cash flow to movement in net borrowings | | | |
Net decrease in cash and cash equivalents | | (4,101) | (769) |
Repayment of borrowings | | 81,470 | 5,653 |
New finance leases | | — | (190) |
Exchange differences on cash and cash equivalents | | (1,917) | 1,125 |
Retranslation of foreign borrowings | | 1,935 | 687 |
Other non-cash changes | | (1,578) | (588) |
Movement in net borrowings in the period | | 75,809 | 5,918 |
Net borrowings at start of period | 26 | (80,799) | (86,717) |
Net borrowings at end of period | 26 | (4,990) | (80,799) |