Financial performance
This section is based on the latest full year results announcement for the 52 weeks to 28 February 2009
Cash Flow Summary
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| 52 weeks to £m |
27 February 2010 |
28 February 2009 |
|---|---|---|
| Benchmark operating profit | 289.7 | 300.4 |
| Exceptional items within operating profit | - | (694.0) |
| Onerous lease provision releases | 12.5 | - |
| Costs related to demerger incentive schemes | (7.7) | (8.4) |
| Statutory operating profit after exceptional items | 294.5 | (402.0) |
| Depreciation and amortisation | 130.1 | 159.4 |
| Movement in working capital | 69.6 | (10.2) |
| Finance expense charged to Financial Services | 3.5 | 13.6 |
| Non-cash Homebase exceptional charges | - | 651.2 |
| Cash flow impact of prior year restructuring charge | (17.4) | (3.1) |
| Other operating items | (19.3) | 59.5 |
| Cash flows from operating activities | 461.0 | 468.4 |
| Net interest | 7.2 | 16.6 |
| Taxation | (107.3) | (74.7) |
| Net capital expenditure | (87.4) | (132.4) |
| Brand acquisitions | (1.9) | (20.6) |
| Purchase of term deposit | (50.0) | (75.0) |
| Sale of term deposit | 75.0 | - |
| Other investments | (6.7) | (2.2) |
| Cash inflow before financing activities | 289.9 | 180.1 |
| Dividends paid | (126.3) | (127.2) |
| Purchase of shares for Employee Share Trust | (9.4) | (21.6) |
| Other financing activities | 0.3 | 0.1 |
| Net increase in cash and cash equivalents | 154.5 | 31.4 |
| Opening cash and cash equivalents | 209.4 | 174.0 |
| Net cash inflow | 154.5 | 31.4 |
| Effect of foreign exchange rate changes | 0.1 | 4.0 |
| Closing cash and cash equivalents | 364.0 | 209.4 |
| Term deposit | 50.0 | 75.0 |
| Closing financing net cash | 414.0 | 284.4 |
