Consolidated Cash Flow Statement For the year ended 30 April 2016

Cash flows from operating activities
Profit before taxation from continuing operations11,2415,512
Loss before taxation from discontinued operations(999)(1,314)
Finance income7(11)(132)
Finance costs83,3282,360
Other finance costs91,399424
Profit on disposal of property, plant and equipment69616
Share-based payments1,7921,557
Change in value of contingent consideration since disposal9991,314
Pension charge in excess of cash contributions41255
Decrease in inventories1,5034,989
Decrease/(increase) in trade and other receivables5,388(4,181)
Decrease in trade and other payables(3,057)(6,996)
Increase/(decrease) in provisions143(637)
Decrease in derivative financial instruments139124
Cash generated from operations46,75218,047
Interest paid(2,791)(1,436)
Tax paid(6,548)(4,503)
Net cash inflow from operating activities37,41312,108
Cash flows from investing activities
Purchases of property, plant and equipment(21,126)(20,500)
Purchases of intangible assets(357)(178)
Proceeds from sale of property, plant and equipment1,97920
Net proceeds on disposal of businesses261,5487,321
Interest received11132
Acquisition of subsidiary (net of cash acquired)28(207,955)
Purchase of equity investment16(1,984)(2,198)
Net cash outflow from investing activities(19,929)(223,358)
Cash flows from financing activities
Proceeds from issues of ordinary share capital2434194,584
Purchase of own shares(2,209)(2,666)
Equity dividends paid to shareholders12(8,999)(7,011)
Defined benefit scheme(712)
Proceeds from new bank funding14,021163,610
Repayment of amounts borrowed(48,316)(15,000)
Upfront loan facility fees(1,913)
Net cash (used in)/generated from financing activities(45,874)231,604
Net (decrease)/increase in cash and cash equivalents(28,390)20,354
Effects of exchange rate changes(553)(996)
Cash and cash equivalents at start of year45,20125,843
Cash and cash equivalents at end of year1916,25845,201