TANFIELD GROUP PLC
Page 23
CASH FLOW STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2008
Group
Company
2008
2007
2008
2007
Note
£000's
£000's
£000's
£000's
Operating Activities
Cash used in operations
29
(10,935)
(29,041)
(20,491)
(56,574)
Income taxes received (paid)
510
(2,943)
-
-
Interest paid
(913)
(331)
(38)
(32)
Net Cash used in Operating activities
(11,338)
(32,315)
(20,529)
(56,606)
Investing Activities
Acquisition of subsidiaries, net of overdraft acquired
-
(44,564)
-
-
Purchase of investments in subsidiary undertakings
-
-
-
(42,591)
Purchase of property, plant and equipment
(1,087)
(1,851)
-
-
Payment of deferred consideration
(252)
-
(252)
-
Proceeds from sale of property, plant and equipment
623
758
-
-
Purchase of investments
(45)
(23)
-
-
Purchase of intangible fixed assets
(6,431)
(2,949)
-
-
Interest received
457
1,210
785
1,089
Net cash used in investing activities
(6,735)
(47,419)
533
(41,502)
Financing Activities
Proceeds from issuance of ordinary shares
19
109,622
19
109,622
Repayment of borrowings
-
(14,904)
- -
Repayments of obligations under finance leases
(693)
(621)
(120)
-
Net cash from financing
(674)
94,097
(101)
109,622
Net (Decrease) Increase in Cash and Cash
Equivalents
(18,747)
14,363
(20,097)
11,514
Cash and Cash Equivalents at beginning of Year
27,952
13,546
24,607
13,093
Effect of foreign exchange changes
1,925
43
862
-
Cash and Cash Equivalents at end of Year
11,130
27,952
5,372
24,607
