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Consolidated Statement of Cash Flows

for the year ended 30 September 2020

  Notes Year to 30 September 2020
€000
Year to 30 September 2019
€000
Restated
Operating activities      
Profit for the period   19,558 28,447
Adjustments to reconcile profit for the period to net cashflows:      
Income tax expense recognised in income statement 13 10,294 9,920
Interest expense and bank commissions 9 3,970 4,718
Loss on disposal of intangible and tangible assets   866 50
Other financial income 9 (151) (312)
Depreciation of property, plant and equipment 18 7,140 6,744
Depreciation of right-of-use assets 19 3,568 3,158
Amortisation of intangible assets 16 2,319 1,966
Impairment of goodwill and brands 8 9,591 14,295
Impairment of investment 8, 23 14,193 -
Net release of contingent consideration 8, 23 (1,510) -
Gain on liquidation of subsidiary 8 - (3,766)
Net foreign exchange (gain)/loss 9 (28) 81
Share-based compensation charge 36 2,864 2,492
Share of loss of equity-accounted investees, net of tax 23 165 536
Increase/(decrease) in provisions   668 (443)
    73,507 67,886
Working capital adjustments      
Decrease in trade receivables and other assets   18,656 9,962
Increase in inventories   (1,927) (7,815)
Increase in trade payables and other liabilities   513 1,384
    17,242 3,531
Cash generated by operations   90,749 71,417
Income tax paid 13 (17,451) (15,196)
Net cashflow from operating activities   73,298 56,221
Investing activities      
Interest received 9 151 195
Funds placed on short-term deposit 33 (18,132) -
Payments to acquire intangible assets 16 (3,583) (1,628)
Proceeds from sale of property, plant and equipment   148 21
Purchase of property, plant and equipment 18 (7,723) (8,556)
Acquisition of subsidiaries, net of cash acquired 37 - (31,801)
Payment of contingent consideration 25 (1,350) -
Net cashflow from investing activities   (30,489) (41,769)
Financing activities      
(Decrease)/increase in borrowings 24 (32,379) 24,981
Interest paid   (3,624) (5,361)
Purchase of own shares 29 (3,841) -
Payment of lease liabilities 25 (3,887) (3,234)
Dividends paid to equity holders of the Parent 30 (17,999) (17,121)
Net cashflow from financing activities   (61,730) (735)
Net (decrease)/increase in cash and cash equivalents   (18,921) 13,717
Cash and cash equivalents at the start of the year   63,437 50,143
Effect of exchange rates on cash and cash equivalents   (1,769) (423)
Cash and cash equivalents at the end of the year 34 42,747 63,437