Key financial data

Condendsed consolidated statement of cash flows

for the six months ended 30 June 2019

                  Six months ended
30 June 2019
£m
Six months ended
30 June 2018
£m
  Year ended
31 December 2018
£m
Profit after tax   38.2 72.9   130.6
           
Adjustments for:          
Depreciation of property and equipment 10 3.1 2.2   5.0
Amortisation of intangible assets 10 5.6 12.0   24.0
Net fair value (gains)/losses on financial assets recognised in profit or loss 8 (0.7) 0.7   1.3
Other interest income 8 (4.2) (3.8)   (8.3)
Loss on disposal of property and equipment   - -   1.3
Finance costs 13 4.9 4.0   8.7
Taxation expense   7.9 13.9   22.3
Share based payment charge   1.2 2.4   2.1
           
Change in insurance and other receivables and prepayments   (43.5) (41.6)   (30.0)
Change in insurance and other payables   53.1 16.8   (6.5)
Change in reinsurance assets   (137.7) (111.6)   (124.2)
Change in deferred acquisition costs   (0.5) (2.4)   (3.0)
Change in insurance contract liabilities   164.2 125.6   154.4
Share based payments net settlement   - (0.9)   -
Taxation paid   (13.7) (10.0)   (26.3)
Net cash flows from operating activities   77.9 80.2   151.4
           
Purchase of property and equipment   (4.3) (2.1)   (3.1)
Acquisition of intangible assets   (6.3) (9.1)   (17.2)
Interest received   9.2 9.4   17.4
Outlays for acquisition of financial assets at fair value   (125.1) (87.9)   (202.0)
Proceeds from disposal of financial assets at fair value   118.5 94.3   166.4
Net cash flows from investing activities   (8.0) 4.6   (38.5)
           
Purchase of own shares   (0.2) (0.2)   (2.2)
Repayment of lease liabilities   (1.5) (1.6)   (1.2)
Proceeds from new loans and borrowings   - 247.8   247.8
Repayment of loans and borrowings   - (275.0)   (275.0)
Interest paid on loans and borrowings   (3.8) (3.3)   (6.2)
Other interest and refinancing costs paid   - (1.2)   (1.1)
Capital contribution   - -   1.9
Dividends paid 22 (59.5) (55.9)   (85.5)
Net cash flows from financing activities   (65.0) (89.4)   (121.5)
           
Net movement in cash and cash equivalents   4.9 (4.6)   (8.6)
           
Cash and cash equivalents at beginning of period   146.0 154.6   154.6
Net movement in cash and cash equivalents   4.9 (4.6)   (8.6)
           
Cash and cash equivalents at end of period 17 150.9 150.0   146.0

 

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