114 JUST GROUP PLC Annual Report and Accounts 2019
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2019
Year ended 31 December 2019 £m
Year ended 31 December 2018 £m
Note
Cash flows from operating activities Profit/(loss) before tax Loss on revaluation of land and buildings Depreciation of property and equipment Impairment of property and equipment
368.6
(85.5)
–
14 14 14 13 35
2.9 1.4
4.5 4.0
–
19.9
Amortisation of intangible assets
24.7
0.3 4.2
Loss on disposal of associated undertaking
–
Share-based payments
7.4
(663.0)
Interest income Interest expense
2 5
(655.2)
186.7
202.8
(1,404.0)
Increase in financial investments Decrease in reinsurance assets
(720.2)
507.2
1,046.1
(2.7) (4.2)
Increase in prepayments and accrued income (Increase)/decrease in insurance and other receivables
(11.4)
25.1
1,729.9
Increase in insurance liabilities
640.8
(143.8) (489.5)
Decrease in investment contract liabilities Decrease in deposits received from reinsurers (Decrease)/increase in accruals and deferred income
(22.9)
(875.7)
(5.7) (5.7)
10.4
Decrease in insurance and other payables
(7.2)
(44.3)
Decrease in other creditors
(91.2)
364.3
Interest received
375.9
(139.1)
Interest paid Taxation paid
(159.2) (36.5) (327.5)
(14.9)
Net cash inflow/(outflow) from operating activities Cash flows from investing activities Additions to internally generated intangible assets Acquisition of property and equipment Net cash outflow from investing activities Cash flows from financing activities Issue of ordinary share capital (net of costs) Proceeds from issue of Tier 1 notes (net of costs)
272.7
(3.3) (1.4) (4.7)
13 14
(2.2) (0.8) (3.0)
73.8
20 21 24 12 12
0.6
292.7
–
83.9
Increase in borrowings (net of costs)
228.5
(0.2)
Dividends paid
(24.4)
(16.8) (43.7)
Coupon paid on Tier 1 notes Interest paid on borrowings Payment of lease liabilities
–
(37.1)
(3.1)
25
–
Net cash inflow from financing activities
386.6 654.6 996.4
167.6
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December
(162.9)
1,159.3
1,651.0
996.4 113.9 882.5 996.4
267.0
Cash available on demand Units in liquidity funds
1,384.0 1,651.0
Cash and cash equivalents at 31 December
19
The notes are an integral part of these financial statements.
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