Cash flows from operating activities | | | | |
Profit/(loss) before tax | | | 7.2 | (12.5) |
Adjustments for: | | | | |
— Depreciation, amortisation and impairment losses | | 3.1 3.2 | 55.0 | 43.7 |
— Movement in provisions | | 3.11 | 1.9 | 0.6 |
— Share of profit in joint venture | | 3.4 | (2.4) | (0.9) |
— Share-based payments charge | | 2.6 | 4.4 | 3.3 |
— Foreign exchange movements | | | 0.1 | — |
— Net finance costs | | 2.7 4.5 | 9.1 | 9.8 |
Changes in working capital: | | | | |
— Movement in inventories | | | (3.6) | (6.4) |
— Movement in trade and other receivables | | | (1.5) | (13.7) |
— Movement in trade and other payables | | | 13.8 | 43.6 |
Cash generated from operations | | | 84.0 | 67.5 |
Interest paid | | | (9.7) | (7.1) |
Net cash flows from operating activities | | | 74.3 | 60.4 |
Cash flows from investing activities | | | | |
Purchase of property, plant and equipment | | | (53.0) | (60.7) |
Borrowing costs capitalised in property, plant and equipment | | | — | (1.1) |
Purchase of intangible assets | | | (25.8) | (15.7) |
Interest received | | | 0.5 | 0.3 |
Net cash flows from investing activities | | | (78.3) | (77.2) |
Cash flows from financing activities | | | | |
Proceeds from the issue of ordinary share capital net of transaction costs | | 4.11 | 3.7 | 3.8 |
Proceeds from the sale and leaseback of property, plant and equipment | | | — | 53.5 |
Proceeds from the sale and leaseback of intangible assets | | | — | 4.4 |
Repayment of borrowings | | | (2.9) | (2.5) |
Repayments of obligations under finance leases | | | (30.5) | (21.6) |
Settlement of forward foreign exchange contracts | | | (0.5) | 0.1 |
Net cash flows from financing activities | | | (30.2) | 37.7 |
Net (decrease)/increase in cash and cash equivalents | | | (34.2) | 20.9 |
Cash and cash equivalents at the beginning of the period | | | 110.5 | 89.6 |
Exchange adjustments | | | — | — |
Cash and cash equivalents at the end of the period | | 3.9 | 76.3 | 110.5 |