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Consolidated Statement of Cash Flows

for the year ended 30 September 2019

  Notes Year to 30 September 2019
€000
9 months to 30 December 2018
€000
Operating activities      
Profit for the period   28,310 19,283
Adjustments to reconcile profit for the period to net cashflows:      
Income tax expense recognised in income statement 13 9,920 7,244
Interest expense and bank commissions 9 4,218 1,938
Loss/(gain) on disposal of intangible and tangible assets   50 (19)
Other financial income 9 (312) (93)
Depreciation of property, plant and equipment 18 6,805 6,424
Amortisation of intangible assets 16 1,966 1,042
Impairment of goodwill and brands 8 14,295 -
Gain on liquidation of subsidiary 8 (3,766) -
Net foreign exchange loss/(gain) 9 81 (156)
Share-based compensation 34 2,492 129
Share of loss of equity-accounted investees, net of tax 22 536 166
Decrease in provisions   (443) (455)
    64,152 35,503
Working capital adjustments      
Decrease in trade receivables and other assets   9,962 43,817
Increase in inventories   (7,815) (7,610)
Increase/(decrease) in trade payables and other liabilities   1,384 (20,316)
    3,531 15,891
Cash generated by operations   67,683 51,394
Income tax paid 13 (15,196) (4,458)
Net cashflow from operating activities   52,487 46,936
Investing activities      
Interest received 9 195 93
Payments to acquire intangible assets 16 (1,628) (1,075)
Proceeds from sale of property, plant and equipment   21 33
Purchase of property, plant and equipment 18 (8,556) (2,449)
Acquisition of subsidiaries, net of cash acquired 35 (31,801) -
Net cashflow from investing activities   (41,769) (3,398)
Financing activities      
Increase/(decrease) in borrowings 23 24,981 (32,015)
Interest paid   (4,861) (1,773)
Purchase of own shares 28 - (3,532)
Dividends paid to equity holders of the Parent 29 (17,121) (16,398)
Net cashflow from financing activities   2,999 (53,718)
Net increase/(decrease) in cash and cash equivalents   13,717 (10,180)
Cash and cash equivalents at the start of the period   50,143 61,341
Effect of exchange rates on cash and cash equivalents   (423) (1,018)
Cash and cash equivalents at the end of the period 32 63,437 50,143