Consolidated cash flow statement For the financial year ended 25 January

Cash flows from operating activities
Operating profit722.8695.1
Depreciation and amortisation117.4117.2
Impairment of property, plant & equipment2.91.8
Loss on disposal of property, plant & equipment13.02.5
Share option charge less amounts settled in cash13.417.8
Share of undistributed profit of associates(0.7)(0.1)
Exchange movement9.3(3.2)
(Increase)/decrease in inventories(53.8)40.1
Increase in customer and other receivables(90.9)(21.7)
Increase in trade and other payables50.77.4
Pension contributions less income statement charge(17.3)(50.2)
Cash generated from operations766.8806.7
Corporation taxes paid(152.0)(147.7)
Net cash from operating activities614.8659.0
Cash flows from investing activities
Additions to property, plant & equipment(105.3)(81.6)
Movement in capital accruals2.4(10.8)
Payments to acquire property, plant & equipment(102.9)(92.4)
Net proceeds from disposal of subsidiary1.5
Proceeds from sale of property, plant & equipment0.45.3
Payment of deferred consideration(0.1)(0.1)
Net cash from investing activities(102.6)(85.7)
Cash flows from financing activities
Repurchase of own shares(295.8)(241.9)
Purchase of shares by ESOT(97.5)(123.0)
Proceeds from disposal of shares by ESOT42.943.4
Bonds issued250.0
Bonds redeemed(85.5)
Interest paid(21.5)(23.8)
Interest received0.52.0
Payment of finance lease liabilities(0.1)(0.1)
Dividends paid(164.8)(147.7)
Net cash from financing activities(371.8)(491.1)
Net increase in cash and cash equivalents140.482.2
Opening cash and cash equivalents130.948.8
Effect of exchange rate fluctuations on cash held(0.6)(0.1)
Closing cash and cash equivalents (Note 31)270.7130.9