Cash flow statements

GroupCompany
2012201120122011
Note£m£m£m£m
Cash flows from operating activities
Profit/(loss) before tax51.447.3(40.5)(0.2)
Adjusted for:
Depreciation of property, plant and equipment1811.17.40.90.2
Loss on disposal of property, plant and equipment60.2
Amortisation of intangible assets192.10.50.10.1
Impairment of investments2039.1
Net impact of lease incentives(2.2)(0.2)
Net finance income12(0.1)(0.1)
Fair value (gain)/loss on derivative financial instruments31(0.3)1.5
Foreign exchange losses on operating activities0.30.1
Share based payment for termination agreement with 888 clothing0.50.5
Fair value (gain)/loss on deferred share consideration13(8.3)0.4
Impact of IFRS 3 (revised) on inventory acquired at date of acquisition131.9
Long term incentive plan110.70.20.7
Changes in working capital:
Increase in inventories(3.6)(24.3)
Increase in trade and other receivables(6.9)(13.4)(2.2)(14.5)
Increase in trade and other payables, and provisions12.33.40.6
Cash generated from/(used in) operations56.525.4(1.3)(13.9)
Interest received120.10.10.1
Tax paid(12.3)(7.4)
Net cash generated from/(used in) operating activities44.318.1(1.3)(13.8)
GroupCompany
2012201120122011
Note£m£m£m£m
Cash flow from investing activities
Acquisition of subsidiaries (net of cash acquired)(0.3)(2.9)
Purchase of property, plant and equipment18(36.8)(19.8)(3.4)(1.0)
Proceeds on sale of property, plant and equipment0.1
Purchase of intangible assets19(15.6)(0.7)(0.1)(0.4)
Purchase of investments20(25.0)
Net cash used in investing activities(52.7)(23.3)(3.5)(26.4)
Cash flow from financing activities
Cash contributions received from landlords7.79.7
Repayment of borrowings25(0.3)
Proceeds received from issuance of shares net of transaction costsStatements of changes in equity18.0
Net cash generated from financing activities7.49.718.0
Net (decrease)/increase in cash and cash equivalents30(1.0)4.5(4.8)(22.2)
Cash and cash equivalents, net of overdraft, at beginning of period2432.228.0(7.2)15.0
Exchange losses on cash and cash equivalents30(0.3)(0.3)
Cash and cash equivalents at end of period, net of overdraft2430.932.2(12.0)(7.2)

The notes are an integral part of these consolidated financial statements.

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