41 Finsbury Food Group Annual Report & Accounts 2017


Consolidated Cash Flow Statement for the 52 weeks ended 1 July 2017 and 53 weeks ended 2 July 2016


Note


Cash flows from operating activities Profit for the financial year


Adjustments for: Taxation


Net finance costs Depreciation


Amortisation of intangibles Non-cash impairment of assets and goodwill


Share of losses of equity accounted investees after tax Contributions by employer to pension scheme Change in fair value of foreign exchange contracts Operating profit before changes in working capital


Changes in working capital: Decrease/(increase) in inventories


Decrease/(increase) in trade and other receivables (Decrease)/increase in trade and other payables Cash generated from operations


Interest paid Tax paid


Net cash from operating activities


Cash flows from investing activities Purchase of property, plant and equipment Purchase of companies/investments Deferred consideration paid


Net cash used in investing activities


Cash flows from financing activities Net drawdown of invoice discounting Repayment of revolving credit


Repayment of mortgage and bank loans Repayment of asset finance liabilities Issue of ordinary share capital


Options exercised/(purchase) of shares by employee benefit trust Dividend paid to non-controlling interest Dividend paid to shareholders Net cash from financing activities


Net (decrease)/increase in cash and cash equivalents Opening cash and cash equivalents


Effect of exchange rate fluctuations on cash held Cash and cash equivalents at end of period


The Notes on pages 42 to 71 form an integral part of these Financial Statements. 16


18 18 18 18


24 35


8 7


11 10 10 12 13 12


2017 £000


2016 £000


10,057


2,959 526


6,948 537


4,000 22


(200) 71


24,920


(39) 153


(2,566) 22,468


(892)


(2,650) 18,926


(12,542) (80) -


(12,622)


822 -


(2,937) (133) -


177 (705)


(3,645) (6,421)


(117)


3,024 117


3,024


8,504


3,286 987


7,090 539


4,290 14


(117) 134


24,727


(1,091) (2,253) 1,711


23,094 (1,180)


(1,603) 20,311


(12,141) -


(50) (12,191) 7,427


(2,000) (3,672) (284) 5


(2,835) (336)


(3,305) (5,000)


3,120 61


(157) 3,024


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