Management Consulting Group PLC Final Results -8-

The average share price for the year ended 31 December 2014 was 23.0p (2013: 27.4p).

   11.    Notes to the cash flow statement 
 
 
                                                       2014      2013 
                                                    GBP'000   GBP'000 
-------------------------------------------------  --------  -------- 
 
Profit from operations                                8,119    17,494 
Adjustments for: 
Depreciation of property, plant and equipment           830       989 
Amortisation of intangible assets                     2,041     4,073 
Profit on disposal of fixed assets                    (341)     (116) 
Adjustment for share awards                           2,410     3,928 
Loss on disposal of subsidiary                            -       279 
Decrease in provisions                              (1,906)   (4,692) 
Other non-cash items                                      -      (33) 
-------------------------------------------------  --------  -------- 
Operating cash flows before movements in working 
 capital                                             11,153    21,922 
Decrease/(increase) in receivables                    3,796   (4,625) 
Increase/(decrease) in payables                       2,676  (10,634) 
-------------------------------------------------  --------  -------- 
Cash generated by operations                         17,625     6,663 
Income taxes paid                                   (4,537)   (4,821) 
-------------------------------------------------  --------  -------- 
Net cash inflow from operating activities            13,088     1,842 
-------------------------------------------------  --------  --------

This information is provided by RNS

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END

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