Consolidated income statement
Balance sheet
Consolidated Cash Flow Statement
 |
|
|
|
Year to
31.3.08
£000 |
Year to
31.3.07
£000 |
|
|
|
| Cash flows from operating activities |
|
|
|
|
|
(Loss)/profit before tax |
(24,285) |
60,088 |
|
|
|
| Depreciation |
270 |
180 |
|
|
|
| Loss/(gain) on investment properties |
32,554 |
(40,637) |
|
|
|
Other non-cash items |
3,440 |
(6,294) |
|
|
|
| Cash flows from operations before changes in working
capital |
11,979 |
13,337 |
|
|
|
Change in trade and other receivables |
26,051 |
(36,317) |
|
|
|
Change in land, developments and trading properties |
(65,031) |
(19,705) |
|
|
|
Change in trade and other payables |
2,563 |
14,828 |
|
|
|
Cash outflow from operations |
(24,438) |
(27,857) |
|
|
|
Finance costs |
(12,987) |
(8,035) |
|
|
|
Finance income |
2,579 |
574 |
|
|
|
Minority interest dividends paid |
– |
(300) |
|
|
|
Dividends from joint ventures |
98 |
303 |
|
|
|
Tax paid |
(3,100) |
(2,602) |
|
|
|
|
(13,410) |
(10,060) |
|
|
|
Cash flows from operating activities |
(37,848) |
(37,917) |
|
|
|
| Cash flows from investing activities |
|
|
|
|
|
Purchase of investment property |
(26,760) |
(27,772) |
|
|
|
Sale of investment property |
6,014 |
53,446 |
|
|
|
Purchase of shares |
(8,080) |
(4,164) |
|
|
|
Sale of investments |
6,508 |
3,909 |
|
|
|
Purchase of shares by ESOP |
(5,273) |
(5,084) |
|
|
|
Sale of plant and equipment |
– |
7 |
|
|
|
Purchase of plant and equipment |
(1,972) |
(48) |
|
|
|
|
|
|
|
(29,563) |
20,294 |
|
|
|
| Cash flows from financing activities |
|
|
|
|
|
Issue of shares |
– |
43 |
|
|
|
Borrowings drawn down |
96,837 |
46,206 |
|
|
|
Borrowings repaid |
(11,644) |
(31,616) |
|
|
|
Equity dividends paid |
(4,081) |
(3,615) |
|
|
|
Refinancing costs |
– |
(141) |
|
|
|
|
81,112 |
10,877 |
|
|
|
Net increase/(decrease) in cash and cash equivalents |
13,701 |
(6,746) |
|
|
|
Cash and cash equivalents at 1 April |
3,389 |
10,135 |
|
|
|
Cash and cash equivalents at 31 March |
17,090 |
3,389 |
|
|
|
|
