Molins PLC Final Results -5-
February 26 2014 - 2:01AM
UK Regulatory
CONSOLIDATED STATEMENT OF CASH FLOWS
2013 2012
Notes GBPm GBPm
Operating activities Operating profit
Non-underlying items included in operating 4.6 4.6
profit
Amortisation Depreciation 0.9 0.3
Defined benefit pension service costs 1.4 1.4
Other non-cash items Pension payments 1.8 2.1
Working capital movements: - increase
in inventories - increase in trade
and other receivables - increase in
trade and other payables - increase
in provisions
- 0.9
0.2 (0.3)
(1.5) (1.6)
(1.0) (2.6)
(3.4) (0.7)
2.4 3.5
0.4 0.3
-------- --------
Cash generated from operations before 5.8 7.9
reorganisation Reorganisation costs
paid 3 (0.7) (0.5)
-------- --------
Cash generated from operations Taxation 5.1 7.4
paid
(1.0) (0.8)
-------- --------
Net cash from operating activities 4.1 6.6
-------- --------
Investing activities
Interest received 0.2 0.2
Proceeds from sale of property, plant 0.2 0.1
and equipment Acquisition of property,
plant and equipment Acquisition of
investment property Capitalised development
expenditure
(1.9) (3.9)
(0.7) -
(2.2) (1.2)
-------- --------
Net cash from investing activities (4.4) (4.8)
-------- --------
Financing activities Interest paid
Purchase of own shares Net increase
against revolving facilities Dividends
paid
(0.3) (0.2)
(0.2) -
4.2 0.7
(1.1) (1.0)
-------- --------
Net cash from financing activities 2.6 (0.5)
-------- --------
Net increase in cash and cash equivalents 7 2.3 1.3
Cash and cash equivalents at 1 January 13.3 12.3
Effect of exchange rate fluctuations (0.6) (0.3)
on cash held
-------- --------
Cash and cash equivalents at 31 December 15.0 13.3
======== ========
NOTES TO PRELIMINARY ANNOUNCEMENT
1. The Group's accounts have been prepared in accordance with
International Accounting Standards and International Financial
Reporting Standards that were effective at 31 December 2013 and
adopted by the EU.
The financial information set out above does not constitute the
Company's statutory accounts for the years ended 31 December 2013
or 2012. Statutory accounts for 2012 have been delivered to the
Registrar of Companies. The auditors have reported on the 2013 and
2012 statutory accounts; their reports were (i) unqualified, (ii)
did not include references to any matters to which the auditors
drew attention by way of emphasis without qualifying their reports
and (iii) did not contain statements under section 498 (2) or (3)
of the Companies Act 2006.
2. Operating segments
Segment information
Scientific Packaging Machinery Tobacco Machinery Total
Services
------------------------ ---------------------------- ------------------------------ ------------------------------
2013 2012 2013 2012 2013 2012 2013 2012
(restated)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Revenue 26.5 23.1 44.3 38.8 34.4 31.1 105.2 93.0
======= =========== ======== ========== ========== ========== ============== =========
Underlying segment
operating profit
1.1 1.2 1.5 1.5 2.9 2.2 5.5 4.9
Segment
non-underlying
items (0.1) (0.9) - (0.1) - - (0.1) (1.0)
------- ----------- -------- ---------- -------------- ---------- ---------- -------------
Segment operating
profit 1.0 0.3 1.5 1.4 2.9 2.2 5.4 3.9
======= =========== ======== ========== ============== ==========
Unallocated
non-underlying
items - defined
benefit pension
(costs)/credits (0.8) 0.7
---------- -------------
Operating profit 4.6 4.6
Net financing (0.8) (0.1)
expense
---------- -------------
Profit before 3.8 4.5
tax
(0.3) (0.7)
Taxation
---------- -------------
Profit for the
period 3.5 3.8
Segment assets 14.0 13.6 25.1 19.1 23.8 26.5 62.9 59.2
Segment liabilities (5.9) (5.4) (12.9) (12.1) (10.1) (12.4) (28.9) (29.9)
------- ----------- -------- ---------- -------------- ---------- ---------- -------------
Segment net
assets
- continuing
operations 8.1 8.2 12.2 7.0 13.7 14.1 34.0 29.3
======= =========== ======== ========== ============== ==========
Net liabilities (0.1) (0.1)
- discontinued
operations
6.6 1.3
Unallocated
net assets
---------- -------------
Total net assets 40.5 30.5
========== =============
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