Annual Reports Keepmoat Homes Annual Report 2018 | Page 28

Consolidated cash flow statement

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Cash flows from operating activities Operating profit 18,164 28,131 Adjustments for : Amortisation of intangible assets 5,018 1,879 Depreciation 880 1,157 Profit on disposal of property , plant and equipment ( 2,319 ) ( 1,183 ) Share of results of equity accounted joint ventures and associates 493 ( 224 ) Increase /( decrease ) in provisions 3,498 ( 120 ) Decrease in retirement benefit obligations 1,402 10 Operating cash flow before changes in working capital 27,136 29,650 Increase in inventories ( 81,097 ) ( 91,791 ) Decrease /( increase ) in receivables 1,760 ( 3,321 ) Increase in payables 59,081 69,160 Cash flows from operating activities before tax 6,880 3,698

Income tax paid ( 5,845 ) ( 2,980 ) Cash flows from operating activities ( continuing operations ) 1,035 718 Cash flows from operating activities ( discontinued operations ) ( 7,037 ) 9,001 Total cash flows from operating activities ( 6,002 ) 9,719 Cash flows from investing activities Purchase of property , plant and equipment ( 983 ) ( 871 ) Purchase of intangible assets ( 379 ) ( 467 ) Proceeds from sale of property , plant and equipment 4,721 2,511 Acquisition of subsidiary undertakings , net of cash acquired 24 - ( 5,323 ) Investment in associate company 12 ( 1,735 ) - Interest received 69 105 Cash flows from investing activities ( continuing operations ) 1,693 ( 4,045 ) Cash flows from investing activities ( discontinued operations ) 299,962 ( 214 ) Total cash flows from investing activities 301,655 ( 4,259 ) Cash flows from financing activities Receipt of loan from group undertakings 47,881 10,810 ( Repayment )/ increase in bank and other loans ( 533 ) 5,952 Interest paid ( 495 ) ( 248 ) Dividends paid ( 341,130 ) - Cash flows from financing activities ( continuing operations ) ( 294,277 ) 16,514 Cash flows from financing activities ( discontinued operations ) ( 13,886 ) ( 56,694 ) Total cash flows from financing activities ( 308,163 ) ( 40,180 )

Continuing operations unless otherwise stated

Net ( decrease )/ increase in cash and cash equivalents ( continuing operations ) Net increase /( decrease ) in cash and cash equivalents ( discontinued operations )

( 291,549 ) 13,187

279,039 ( 47,907 ) Total net decrease in cash and cash equivalents ( 12,510 ) ( 34,720 ) Cash and cash equivalents at 1 April 52,740 87,460 Cash and cash equivalents at 31 March 40,230 52,740 Included in cash and cash equivalents per balance sheet 15 41,226 41,427 Included in cash and cash equivalents of the disposal group 7 - 20,908 Included within bank overdrafts 18 ( 996 ) ( 9,595 )

40,230 52,740