| Notes | 52 weeks to
29 March
2019
£m | 52 weeks to
30 March
2018
£m |
|---|
| Cash flows from operating activities | | | |
| Profit after tax for the period, before non-underlying items | | 48.3 | 58.4 |
| Non-underlying items | | (6.4) | (3.7) |
| Profit after tax for the period | | 41.9 | 54.7 |
| Depreciation and impairment – property, plant and equipment | 11 | 23.0 | 24.0 |
| Amortisation – intangible assets | 10 | 13.0 | 10.9 |
| Net finance costs | 6 | 3.4 | 2.7 |
| Loss on disposal of property, plant and equipment and intangibles | 3 | 5.5 | 4.1 |
| Equity-settled share-based payment transactions | | 0.3 | 0.4 |
| Exchange movement | | (0.3) | 1.9 |
| Income tax expense | | 9.1 | 12.4 |
| Decrease/(increase) in inventories | | 11.9 | (4.4) |
| (Increase)/decrease in trade and other receivables | | (3.1) | 2.4 |
| (Decrease) in trade and other payables | | (19.2) | (10.6) |
| Increase/(decrease) in provisions | | 2.7 | (1.4) |
| Finance income received | | – | 0.1 |
| Finance costs paid | | (3.1) | (2.0) |
| Income tax paid | | (12.7) | (16.1) |
| Net cash from operating activities | | 72.4 | 79.1 |
| Cash flows from investing activities | | | |
| Acquisition of subsidiary, net of cash acquired | | – | (5.1) |
| Purchase of investment | | (0.5) | (3.5) |
| Purchase of intangible assets | | (11.0) | (18.0) |
| Purchase of property, plant and equipment | | (18.4) | (19.0) |
| Net cash used in investing activities | | (29.9) | (45.6) |
| Cash flows from financing activities | | | |
| Net proceeds from share options and purchase of own shares | | (0.6) | 0.1 |
| Proceeds from loans, net of transaction costs | | 1,138.7 | 415.2 |
| Repayment of borrowings | | (1,159.0) | (404.0) |
| Payment of finance lease liabilities | | (0.6) | (0.6) |
| Dividends paid | 8 | (35.9) | (34.8) |
| Net cash used in financing activities | | (57.4) | (24.1) |
| Net (decrease)/increase in cash and bank overdrafts | 1 | (14.9) | 9.4 |
| Cash and cash equivalents at the beginning of the period | | 7.5 | (1.9) |
| Cash and cash equivalents at the end of the period | 1 | (7.4) | 7.5 |
Cash and cash equivalents at the period end consist of £9.8m (2018: £27.0m) of liquid assets and £17.2m (2018: £19.5m) of bank overdrafts.
The notes to the financial statements are an integral part of these consolidated financial statements.