Savills plc 2012 Annual Report - (PDF) - Investor relations

Consolidated and Company statements of cash flowsfor the year ended 31 December 2012NotesGroup2012£m2011£mCompany2012£mCash flows from operating activitiesCash generated from/(used in) operations 31 71.5 47.1 (3.8) 29.5Interest received 1.0 1.1 1.6 1.4Interest paid (0.8) (1.0) – –Income tax (paid)/received (12.0) (11.5) 2.5 4.7Net cash generated from operating activities 59.7 35.7 0.3 35.6Cash flows from investing activitiesProceeds from sale of property, plant and equipment 0.7 0.2 – –Proceeds from sale of joint venture and available-for-sale investments 2.8 2.0 – –Cash outflow in relation to disposal of subsidiaries, net of cash disposed – (1.4) – –Deferred consideration received in relation to prior year disposals 0.7 – – –Dividends received from joint ventures and associates 6.0 1.9 – –Repayment of loans by associates, joint ventures and subsidiaries 0.7 0.7 22.8 25.1Loans to associates, joint ventures and subsidiaries – (2.3) – (21.6)Acquisition of subsidiaries, net of cash acquired 16(e) (2.5) (7.2) – –Deferred consideration paid in relation to prior year acquisitions (3.9) (1.3) – –Purchase of property, plant and equipment 15 (7.7) (9.2) (1.7) (0.8)Purchase of intangible assets 14 (3.1) (1.2) (0.9) (0.4)Purchase of investment in associates, joint ventures andavailable-for-sale investments 16(a) & (b) (1.7) (2.0) – –Net cash (used in)/generated from investing activities (8.0) (19.8) 20.2 2.3Cash flows from financing activitiesProceeds from issue of share capital 26(a) & (b) 2.0 1.3 2.0 1.3Proceeds from borrowings 49.0 29.5 – –Purchase of own shares for Employee Benefit Trust 27 (1.6) (10.1) – –Contribution to Employee Benefit Trust – – (0.2) (0.8)Purchase of non-controlling interests 16(f) (11.8) (1.5) – –Deferred consideration paid to non-controlling interests in relation to prior yearacquisitions (3.3) (2.4) – –Repayments of borrowings (52.9) (33.8) – –Dividends paid 12 (17.7) (16.9) (16.9) (16.3)Net cash used in financing activities (36.3) (33.9) (15.1) (15.8)Net increase/(decrease) in cash, cash equivalents and bank overdrafts 15.4 (18.0) 5.4 22.1Cash, cash equivalents and bank overdrafts at beginning of year 78.8 96.5 15.8 (6.3)Effect of exchange rate fluctuations on cash held (1.5) 0.3 – –Cash, cash equivalents and bank overdrafts at end of year 19, 22 92.7 78.8 21.2 15.82011£mOur business Our governance Our resultsSavills plc Report and Accounts 2012 65