| Cash flows from operating activities | | | |
| Operating profit | | 34.1 | 33.2 |
| Non-underlying items | | 65.1 | 48.1 |
| Underlying operating profit | | 99.2 | 81.3 |
| Adjustments for: | | | |
| Depreciation | 13 | 4.8 | 4.9 |
| Amortisation and impairment | 12 | 2.6 | 2.0 |
| Loss on disposal of intangible assets | 7 | — | 0.3 |
| Loss on disposal of tangible assets | 7 | — | 0.2 |
| Equity settled share-based payment expense | 28 | 2.4 | 2.3 |
| Underlying operating cash flow before changes in working capital | | 109.0 | 91.0 |
| Increase in inventories | | (22.5) | (1.6) |
| (Increase)/decrease in trade and other receivables | | (9.5) | 6.4 |
| Increase in trade and other payables | | 8.6 | 2.1 |
| Cash generated from operating activities before interest, taxation and non-underlying items | 85.6 | 97.9 |
| Cash outflows in respect of non-underlying items | | (4.4) | (3.7) |
| Cash generated from operating activities before interest and taxation | | 81.2 | 94.2 |
| Interest paid | | (5.7) | (4.8) |
| Income taxes paid | | (11.5) | (12.0) |
| Net cash inflow from operating activities | | 64.0 | 77.4 |
| Cash flows from investing activities | | | |
| Acquisition of subsidiaries (net of cash acquired) | | (227.3) | (35.0) |
| Acquisition of non-controlling interests | 27 | (1.8) | (0.6) |
| Acquisition of investments in associates | 6 | — | (11.0) |
| Purchase of property, plant and equipment | 13 | (4.9) | (4.2) |
| Capitalised development expenditure | 12 | (1.3) | (1.2) |
| Purchase of other intangible non-current assets | 12 | (6.4) | (5.2) |
| Net cash outflow from investing activities | | (241.7) | (57.2) |
| Cash flows from financing activities | | | |
| Proceeds from the issue of share capital | 25 | 103.3 | 0.9 |
| Own shares purchased | 26 | — | (0.6) |
| New borrowings | | 133.4 | 25.0 |
| Expenses of raising borrowing facilities | | (3.9) | (0.1) |
| Repayment of borrowings | | (17.2) | (5.9) |
| Dividends paid | 10 | (21.8) | (17.7) |
| Net cash inflow from financing activities | | 193.8 | 1.6 |
| Net increase in cash and cash equivalents | | 16.1 | 21.8 |
| Cash and cash equivalents at start of period | | 61.2 | 39.1 |
| Exchange differences on cash and cash equivalents | | 2.4 | 0.3 |
| Cash and cash equivalents at end of period | 18 | 79.7 | 61.2 |
| | | |
| Reconciliation of net cash flow to movement in net borrowings | | | |
| Net increase in cash and cash equivalents | | 16.1 | 21.8 |
| New borrowings | | (133.4) | (25.0) |
| Repayment of borrowings | | 17.2 | 5.9 |
| Expenses of raising borrowing facilities | | 3.9 | 0.1 |
| Exchange differences on cash and cash equivalents | | 2.4 | 0.3 |
| Retranslation of foreign borrowings | | 3.3 | (6.3) |
| Other non-cash changes | | (0.9) | (0.2) |
| Movement in net borrowings in the period | | (91.4) | (3.4) |
| Net borrowings at start of period | | (120.0) | (116.6) |
| Net borrowings at end of period | 29 | (211.4) | (120.0) |