Consolidated Cash Flow Statement

for the year ended 31 December 2009

Note 2009
€‘000		 2008
€‘000
  OPERATING ACTIVITIES    
     
Profit for the year before tax 56,679 68,134
35 Adjustments 50,967 107,692
  Change in inventories 50,723 (4,218)
  Change in trade and other receivables 108,398 52,018
  Change in trade and other payables (53,958) 4,715
  Pension contributions (2,927) (2,611)
       
  Cash generated from operations 209,882 225,730
  Taxes paid (10,119) (18,121)
  Net cash flow from operating activities 199,763 207,609
       
  INVESTING ACTIVITIES    
  Additions to property, plant and equipment (48,592) (100,044)
  Proceeds from disposals of property, plant and equipment 2,715 2,470
  Proceeds from sale of financial assets 200 -
  Purchase of subsidiary undertakings (6,566) (87,700)
  Net (loans)/cash acquired with acquisitions (183) 3,184
  Payment of deferred consideration in respect of acquisitions (11,196) (2,521)
  Interest received 1,840 1,587
  Net cash flow from investing activities (61,782) (183,024)
       
  FINANCING ACTIVITIES    
  (Repayment)/increase of bank loans (139,093) 84,577
  Discharge of finance lease liability (574) (1,350)
  Proceeds from share issues 685 2,693
  Buyback of own shares - (32,565)
  Interest paid (14,752) (14,255)
  Dividends paid to minorities (340) (71)
  Dividends paid - (42,262)
  Net cash flow from financing activities (154,074) (3,233)
       
  CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 74,272 62,938
       
  (Decrease)/increase in cash and cash equivalents (16,093) 21,352
  Translation adjustment 1,738 (10,018)
       
  CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 59,917 74,272
       
  Cash and cash equivalents as at 1 January were made up of:    
  Cash and cash equivalents 75,254 66,626
  Overdrafts (982) (3,688)
    74,272 62,938
  Cash and cash equivalents as at 31 December were made up of:    
  Cash and cash equivalents 83,886 75,254
  Overdrafts (23,969) (982)
    59,917 74,272
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