Key financial data

Condendsed consolidated statement of cash flows

for the six months ended 31 December 2018

 NotesYear ended
31 December 2018
£m
Year ended
31 December 2017
£m
Profit after tax   130.6 126.7
       
Adjustments for:      
Depreciation of property and equipment 10 5.0 2.6
Amortisation of intangible assets 10 24.0 24.4
Net fair value (losses)/gains on financial assets recognised in profit or loss 8 1.3 (0.4)
Other interest income 8 (8.3) (6.4)
Loss on disposal of property and equipment   1.3 -
Finance costs 12 8.7 8.1
Taxation expense 13 22.3 22.3
Share based payment charge   2.1 4.8
       
Change in insurance and other receivables and prepayments   (30.0) (69.3)
Change in insurance and other payables   (6.5) 37.4
Change in reinsurance assets   (124.2) (265.4)
Change in deferred acquisition costs   (3.0) (6.9)
Change in insurance contract liabilities   154.4 365.4
Taxation paid   (26.3) (21.6)
Net cash flows from operating activities   151.4 221.7
       
Purchase of property and equipment   (3.1) (3.1)
Acquisition of intangible assets   (17.2) (14.2)
Interest received   17.4 6.8
Outlays for acquisition of financial assets at fair value   (202.0) (231.1)
Proceeds from disposal of financial assets at fair value   166.4 98.6
Net cash flows from investing activities   (38.5) (143.0)
       
Purchase of own shares   (2.2) (0.3)
Repayment of lease liabilities   (1.2) -
Proceeds from new loans and borrowings 19  247.8 -
Repayment of loans and borrowings 19  (275.0) (15.0)
Interest paid on loans and borrowings   (6.2) (6.0)
Other interest and refinancing costs paid   (1.1) (0.5)
Capital contribution   1.9 -
Dividends paid 21 (85.5) (70.3)
Net cash flows from financing activities   (121.5) (92.1) 
       
Net movement in cash and cash equivalents   (8.6) (13.4)
       
Cash and cash equivalents at beginning of period   154.6 168.0
Net movement in cash and cash equivalents   (8.6) (13.4)
       
Cash and cash equivalents at end of period 17 146.0 154.6

The accompanying notes to the Condensed Consolidated Financial Statements were provided in the 2018 Full Year results announcement.