Chemring Interim 2006 - Chemring Group PLC

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C H E M R I N G G R O U P P L CUnaudited Consolidated Cash Flow Statementfor the half year to 30 April 2006Cash flows from operating activitiesCash generated from/(used in) operationsTax paidNoteUnauditedHalf year to30 April 2006£00013,397(3,626)UnauditedHalf year to30 April 2005As restated£000(1,956)(2,856)UnauditedYear to31 Oct 2005As restated£00021,134(7,612)Net cash from operating activities9,771(4,812)13,522Cash flows from investing activitiesDividends received from associatePurchases of property, plant and equipmentPurchases of intangible assetsProceeds on disposal of investment in subsidiarySales of property, plant and equipmentAcquisition of subsidiaries (net of cash acquired)7107(4,882)(922)--(51,650)-(3,353)(320)242-(503)108(6,898)(1,063)2428(22,009)Net cash outflow from investing activities(57,347)(3,934)(29,612)Cash flows from financing activitiesDividends paidInterest paidRepayments of obligations under finance leasesProceeds on issue of sharesNew bank loans raised-(2,372)(354)26,40229,549-(1,321)(538)2365,878(2,726)(3,239)(965)57226,931Net cash inflow from financing activities53,2254,25520,573Increase/(decrease) in cash and cash equivalentsduring the period/yearCash and cash equivalents at start of period/yearEffect of foreign exchange rate changes5,649(2,970)(112)(4,491)(7,530)(129)4,483(7,530)77Cash and cash equivalents at end of period/year2,567(12,150)(2,970)Reconciliation of operating profit to net cash flowgenerated from/(used in) operating activitiesOperating profit from continuing operationsOperating loss from discontinued operationsAdjustment for:Depreciation of property, plant and equipmentAmortisation of intangible assetsLoss on disposal of property, plant and equipmentDecrease in provisions14,351(177)3,00665950(170)8,522(1,028)1,93962547(456)22,050(5,557)4,1034,6788(456)Operating cash flows before movements in working capital17,7199,64924,826Increase in inventoriesIncrease in trade and other receivablesIncrease/(decrease) in trade and other payables(2,860)(2,469)1,007(6,033)(3,627)(1,945)(5,696)(1,073)3,077Cash generated from/(used in) operations13,397(1,956)21,134P 8
I N T E R I M R E P O R T 2 0 0 6Reconciliation of net cash flow to movement in net debtIncrease/(decrease) in cashCash inflow from the increase in debt and lease financingChange in net debt resulting from cash flowsUnauditedHalf year to30 April 2006£0005,649(29,195)(23,546)UnauditedHalf year to30 April 2005As restated£000(4,491)(5,340)(9,831)UnauditedYear to31 Oct 2005As restated£0004,483(25,967)(21,484)New finance leasesTranslation differenceAmortisation of debt finance costsMovement in net debt in the period/year(202)1,117(27)(22,658)-219(85)(9,697)(103)(1,109)(70)(22,766)Net debt at start of period/year(52,774)(30,008)(30,008)Net debt at end of period/year(75,432)(39,705)(52,774)Analysis of net debtAs at1 Nov 2005£000Cashflow£000Non-cashchanges£000Exchangemovement£000As at30 April 2006£000Cash at bank and in handOverdrafts7,774(10,744)(2,970)2,3613,2885,649---(112)-(112)10,023(7,456)2,567Debt due within one yearDebt due after one yearFinance leases(1,957)(46,320)(1,527)2,538(32,087)354(6,977)6,950(202)-1,18643(6,396)(70,271)(1,332)(52,774)(23,546)(229)1,117(75,432)P 9
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Page 27 and 28: Photographs:© Chemring Group PLC

Chemring Interim 2006 - Chemring Group PLC

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