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Consolidated Statement of Cash Flows

for the period ended 30 September 2018

  Notes 9 months to 30 September 2018
€000
Year to 31 December 2017
€000
Operating activities      
Profit for the period   19,283 11,329
Adjustments to reconcile profit for the year to net cashflows:      
Income tax expense recognised in income statement 13 7,244 15,980
Interest expense and bank commissions 9 1,938 3,169
(Gain)/loss on disposal of tangible assets   (19) 538
Other financial income 9 (93) (681)
Depreciation of property, plant and equipment 18 6,424 9,894
Amortisation of intangible assets 16 1,042 1,318
Impairment of goodwill 8 - 14,900
Net foreign exchange (gain)/loss 9 (156) 84
Share-based compensation 34 129 1,942
Share of loss of equity-accounted investees, net of tax 22 166 331
(Decrease)/Increase in provisions   (455) 775
    35,503 59,579
Working capital adjustments      
Decrease/(increase) in trade receivables and other assets   43,817 (30,505)
Increase in inventories   (7,610) (1,443)
(Decrease)/increase in trade payables and other liabilities   (20,316) 25,988
    15,891 (5,960)
Cash generated by operations   51,394 53,619
Income tax paid 13 (4,458) (6,959)
Net cashflow from operating activities   46,936 46,660
Investing activities      
Interest received 9 93 681
Payments to acquire intangible assets 16 (1,075) (1,376)
Proceeds from sale of property, plant and equipment   33 98
Purchase of property, plant and equipment 18 (2,449) (3,710)
Purchase of equity-accounted investee 22 - (15,000)
Net cashflow from investing activities   (3,398) (19,307)
Financing activities      
Repayment of borrowings 23 (32,015) (20,128)
Interest paid   (1,773) (3,147)
Purchase of own shares 28 (3,532) (116)
Dividends paid to equity holders of the parent 29 (16,398) (15,730)
Net cashflow from financing activities   (53,718) (39,121)
Net decrease in cash and cash equivalents   (10,180) (11,768)
Cash and cash equivalents at the start of the period   61,341 74,956
Effect of exchange rates on cash and cash equivalents   (1,018) (1,847)
Cash and cash equivalents at the end of the period 32 50,143 61,341