| 2016 £m | 2015 £m |
---|
Profit for the year | 67.0 | 56.2 |
| | |
Adjustments for: | | |
Investment revenue | – | (0.1) |
Finance costs | 2.6 | 3.0 |
Taxation | 24.9 | 18.8 |
Depreciation of property, plant and equipment | 54.1 | 48.8 |
Amortisation of intangible assets | 5.6 | 5.0 |
Profit on disposal of property, plant and equipment | (4.5) | (2.1) |
Share-based payments | 0.5 | (0.4) |
Impairment of fixed assets | 5.1 | 9.0 |
Impairment of other assets | – | 0.5 |
Profit on sale of businesses | (0.1) | (3.8) |
EBITDA * | 155.2 | 134.9 |
Decrease in inventories | 5.5 | 0.7 |
(Increase)/decrease in receivables | (4.1) | 0.9 |
Decrease in payables | (6.7) | (6.3) |
(Decrease)/increase in provisions | (3.6) | 4.3 |
Cash generated by operations | 146.3 | 134.5 |
Income taxes paid | (20.4) | (23.2) |
Net cash from operating activities | 125.9 | 111.3 |
* Earnings before interest, tax, depreciation, amortisation, impairment of fixed assets and other assets, profit or loss on disposal of property, plant and equipment, profit on sale of businesses and share-based payments.
| 2016 £m | 2015 £m |
---|
Cash and cash equivalents comprise: | | |
Cash and bank balances | 12.0 | 16.2 |
Bank overdrafts (included in borrowings) | (5.8) | (3.8) |
| 6.2 | 12.4 |