25 Cash flows from operating activities
| 2008 £m |
Restated 2007 £m |
|
|---|---|---|
| Cash flows from operating activities | ||
| Profit from operations for the year | 58.0 | 53.5 |
| Adjusted for: | ||
| Amortisation of fixed life intangible assets | 9.1 | 4.5 |
| Share of net profit of equity accounted joint ventures | (2.6) | (4.7) |
| Depreciation of property, plant and equipment | 8.1 | 6.3 |
| Expense in respect of share options | 2.3 | 1.7 |
| Defined benefit plan payment | (0.7) | (0.2) |
| Defined benefit plan charge | 0.2 | 0.1 |
| (Gain)/loss on disposal of property, plant and equipment | (0.2) | 1.2 |
| (Decrease)/increase in provisions | (1.0) | 1.4 |
| Operating cash flows before movements in working capital | 73.2 | 63.8 |
| Increase in inventories | (41.2) | (10.4) |
| Decrease/(increase) in receivables | 48.8 | (33.3) |
| (Decrease)/increase in payables | (122.9) | 157.8 |
| Cash (utilised)/generated from operations | (42.1) | 177.9 |
| Income taxes paid | (18.9) | (15.8) |
| Interest paid | (4.5) | (4.0) |
| Net cash (outflow)/inflow from operating activities | (65.5) | 158.1 |
Additions to property, plant and equipment during the year amounting to £6.3m (2007: £3.0m) and additions to leasehold property amounting to £nil (2007: £2.3m) were financed by new finance leases. Cash and cash equivalents (which are presented as a single class of assets on the face of the balance sheet) comprise cash at bank and other short-term highly liquid investments with a maturity of three months or less.