|
|
|
| For the year ended 31 December 2007 |
|
2007 |
|
|
2006 |
| |
|
€'000 |
|
|
€'000 |
| Profit before taxation |
|
235,833 |
|
|
249,356 |
| Finance income |
|
(26,603) |
|
|
(21,522) |
| Finance expense |
|
61,569 |
 |
|
52,886 |
| Operating profit |
|
270,799 |
|
|
280,720 |
| |
|
|
|
|
|
| Depreciation |
|
56,792 |
|
|
53,163 |
| Intangible amortisation |
|
2,212 |
|
|
2,212 |
| Goodwill write-off on termination |
|
88 |
|
|
243 |
| Share based payments charge |
|
4,465 |
|
|
3,264 |
| Other
income - property profit |
|
(7,254) |
|
|
(37,989) |
| Profit
on sale of plant and equipment |
|
(3,226) |
|
|
(3,401) |
| Contributions to pension schemes in excess of IAS 19 charge |
|
(5,639) |
|
|
(20,249) |
| Increase in working capital |
|
(14,417) |
|
|
(26,111) |
| Cash generated from operations |
|
303,820 |
|
|
251,852 |
| |
|
|
|
|
|
| Interest paid |
|
(50,445) |
|
|
(43,224) |
| Income
taxes paid |
|
(10,564) |
|
|
(14,594) |
| Cash
flows from operating activities |
|
242,811 |
|
|
194,034 |
| |
|
|
|
|
|
| Investing
activities |
|
|
|
|
|
| Inflows |
|
|
|
|
|
| Proceeds
from sale of property, plant and equipment |
|
22,128 |
|
|
77,664 |
| Interest
received |
|
14,416 |
|
|
12,216 |
| |
|
36,544 |
|
|
89,880 |
| Outflows |
|
|
|
|
|
| Acquisition
of subsidiary undertakings and businesses |
|
(84,350) |
|
|
(70,621) |
| Net
cash acquired with subsidiary undertakings |
|
7,689 |
|
|
777 |
| Deferred
acquisition consideration |
|
(9,461) |
|
|
(11,958) |
| Purchase
of property, plant and equipment |
|
(104,650) |
|
|
(124,401) |
| Purchase
of financial assets |
|
(452) |
|
|
(90) |
| |
|
(191,224) |
|
|
(206,293) |
| |
|
|
|
|
|
| Cash
flows from investing activities |
|
(154,680) |
|
|
(116,413) |
| |
|
|
|
|
|
| Financing
activities |
|
|
|
|
|
| Inflows |
|
|
|
|
|
| Proceeds
from the issue of share capital |
|
2,553 |
|
|
4,000 |
| Proceeds
from long term borrowings |
|
66,742 |
|
|
- |
| |
|
69,295 |
|
|
4,000 |
| Outflows |
|
|
|
|
|
| Repayment
of long term borrowings |
|
- |
|
|
(117,170) |
| Shares bought back and treasury shares acquired |
|
(72,836) |
|
|
- |
| Purchase
of 'A' Ordinary shares |
|
(49,048) |
|
|
(39,920) |
| Payment
of finance lease liabilities |
|
(1,883) |
|
|
(1,850) |
| Redemption
of loan notes payable net of derivatives |
|
(19,216) |
|
|
(18,087) |
| |
|
(142,983) |
|
|
(177,027) |
| |
|
|
|
|
|
| Cash
flows from financing activities |
|
(73,688) |
|
|
(173,027) |
| |
|
|
|
|
|
| Net
(decrease) / increase in cash and cash equivalents |
|
14,443 |
|
|
(95,406) |
| |
|
|
|
|
|
| Cash
and cash equivalents at 1 January |
|
201,764 |
|
|
291,844 |
| Effect
of exchange rate fluctuations on cash held |
|
(12,718) |
|
|
5,326 |
| |
|
|
|
|
|
| Cash
and cash equivalents at 31 December |
|
203,489 |
|
|
201,764 |
| Cash and cash equivalents are broken down as follows: |
|
|
|
|
|
| Cash
at bank and short term deposits |
|
204,489 |
|
|
231,519 |
| Overdrafts |
|
(1,000) |
|
|
(29,755) |
| |
|
203,489 |
|
|
201,764 |
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
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