142 | Just Group PLC | Annual Report and Accounts 2024
CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2024
Year ended 31 December 2024 £m
Year ended 31 December 2023 £m
Note
Cash flows from operating activities Profit before tax Adjustments for: Depreciation of property and equipment
113
172
13
3
2
Share of results from associates Amortisation of intangible assets Impairment of intangible assets
26
14
12 12
1 – 1
3 3 1
Share-based payments
Interest income Interest expense
4 5
(1,217)
(1,104)
241
122
Change in operating assets and liabilities: Net increase in financial investments Increase in net reinsurance contracts balance Increase in prepayments and accrued income
(4,247)
(6,068)
(955)
(363)
(2)
(1)
Decrease in other receivables
10
3
Increase in insurance contract liabilities Increase in investment contract liabilities Increase in accruals and provisions
3,622
4,484
7 9
2
16
2,101 1,151
1,774 1,075
Increase in net derivative liabilities, financial liabilities and other payables 1
Interest received
Taxation (paid)/received
(1)
6
Net cash inflow from operating activities
863
141
Cash flows from investing activities Acquisition of property and equipment
13 13
(4)
(3)
Disposal of property
– 4 –
1 –
Dividends from associates
Net cash outflow from investing activities
(2)
Cash flows from financing activities Proceeds on issue of borrowings (net of costs) Payment on redemption of borrowings Acquisition of non-controlling interests
24 24
398
–
(256)
(26)
(1)
–
Dividends paid
11 11
(23) (16) (48)
(19) (16) (48)
Coupon paid on Tier 1 notes Interest paid on borrowings
Payment of lease liabilities – principal
(2)
(1)
Net cash inflow/(outflow) from financing activities
52
(110)
Net increase in cash and cash equivalents
915
29
Foreign exchange differences on cash balances Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December
(2)
2
1,687 2,600
1,656 1,687
Cash available on demand Units in liquidity funds
808
546
1,792 2,600
1,141 1,687
Cash and cash equivalents at 31 December
18
1 Other payables has been aggregated with other financial liabilities in all periods presented. The notes are an integral part of these financial statements.
Powered by FlippingBook