| Cash flows from operating activities | | | |
| Operating profit | | 39.0 | 34.1 |
| Non-underlying items | | 88.4 | 65.1 |
| Underlying operating profit | | 127.4 | 99.2 |
| Adjustments for: | | | |
| Depreciation | 13 | 5.7 | 4.8 |
| Amortisation and impairment | 2 | 4.1 | 2.6 |
| Release of government grant | | (0.5) | – |
| Profit on disposal of tangible assets | 7 | (0.3) | – |
| Gain on curtailment of pension scheme | 23 | (3.5) | – |
| Equity settled share-based payment expense | 28 | 2.3 | 2.4 |
| Underlying operating cash flow before changes in working capital | | 135.2 | 109.0 |
| Increase in inventories | | (14.1) | (22.5) |
| Increase in trade and other receivables | | (11.7) | (9.5) |
| Increase in trade and other payables | | 6.3 | 8.6 |
| Cash generated from operating activities before interest, taxation and non-underlying items | | 115.7 | 85.6 |
| Cash outflows in respect of non-underlying items | | (7.4) | (4.4) |
| Cash generated from operating activities before interest and taxation | | 108.3 | 81.2 |
| Interest paid | | (9.2) | (5.7) |
| Income taxes paid | | (17.3) | (11.5) |
| Net cash inflow from operating activities | | 81.8 | 64.0 |
| Cash flows from investing activities | | | |
| Proceeds from disposal of tangible assets | | 0.3 | – |
| Acquisition of subsidiaries (net of cash acquired) | | (39.7) | (227.3) |
| Acquisition of non-controlling interests | 27 | – | (1.8) |
| Purchase of property, plant and equipment | 13 | (12.0) | (4.9) |
| Capitalised development expenditure | 12 | (1.0) | (1.3) |
| Purchase of other intangible non-current assets | 12 | (9.5) | (6.4) |
| Net cash outflow from investing activities | | (61.9) | (241.7) |
| Cash flows from financing activities | | | |
| Proceeds from the issue of share capital | | 1.2 | 103.3 |
| New borrowings | | 44.1 | 133.4 |
| Expenses of raising borrowing facilities | | (0.2) | (3.9) |
| Repayment of borrowings | | (36.8) | (17.2) |
| Dividends paid | 10 | (28.4) | (21.8) |
| Net cash (outflow)/inflow from financing activities | | (20.1) | 193.8 |
| Net (decrease)/increase in cash and cash equivalents | | (0.2) | 16.1 |
| Cash and cash equivalents at start of period | 18 | 79.7 | 61.2 |
| Exchange differences on cash and cash equivalents | | 0.8 | 2.4 |
| Cash and cash equivalents at end of period | 18 | 80.3 | 79.7 |
| | | | |
| Reconciliation of net cash flow to movement in net borrowings | | | |
| Net (decrease)/increase in cash and cash equivalents | | (0.2) | 16.1 |
| New borrowings | | (44.1) | (133.4) |
| Repayment of borrowings | | 36.8 | 17.2 |
| Expenses of raising borrowing facilities | | 0.2 | 3.9 |
| Acquisition of subsidiary borrowings | | (2.8) | – |
| Exchange differences on cash and cash equivalents | | 0.8 | 2.4 |
| Retranslation of foreign borrowings | | (6.2) | 3.3 |
| Other non-cash changes | | (0.9) | (0.9) |
| Movement in net borrowings in the period | | (16.4) | (91.4) |
| Net borrowings at start of period | | (211.4) | (120.0) |
| Net borrowings at end of period | 29 | (227.8) | (211.4) |