8. Notes to the cash flow statement

Year ended 31 Dec 2011
£m

Half year to
30 June 2012
£m
Half year to
30 June 2011
£m
56.0 Profit for the period 32.6 29.8

Adjustments for:

(0.2) Investment revenue (0.1) (0.1)
4.8 Finance costs 1.9 2.5
19.8 Taxation 11.2 10.5
48.2 Depreciation of property, plant and equipment 24.6 24.0
2.9 Amortisation of intangible assets 1.6 1.2
0.7 Loss on disposal of property, plant and equipment 0.2
5.4 Share-based payments 3.0 2.5
(0.1) Impairment/reversal of impairment of fixed assets
4.2 Impairment charge
(0.6) Negative goodwill released to income
141.1 EBITDA* 74.8 70.6
(2.8) Increase in inventories (0.4) (2.6)
(7.9) Increase in receivables (7.9) (13.6)
8.9 Increase in payables 11.7 6.0
(4.5) Decrease in provisions (2.5) (3.3)
134.8 Cash generated by operations 75.7 57.1
0.3 Cash (outflow)/inflow from settlement of derivative financial instruments (0.2)
(15.3) Income taxes paid (9.0) (6.4)
119.8 Net cash from operating activities 66.5 50.7

* Earnings before interest, tax, depreciation, amortisation, impairment, loss on disposal of property, plant and equipment and share-based payments.

Cash and cash equivalents comprise:

18.1 Cash and bank balances 10.2 19.4
(8.6) Bank overdrafts (included in borrowings) (7.5) (9.9)
9.5
2.7 9.5

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