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Latest Results

Full Year Results

"Foundations for growth"

Carr's (CARR.L), the fully-listed Agriculture and Engineering Group, announces results for the year ended 2 September 2017.

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UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
For the year ended 2 September 2017

  Note 2017 2016
    £’000 £’000
Cash flows from operating activities      
Cash generated from continuing operations 7 15,094 6,257
Interest received   175 155
Interest paid   (896) (673)
Tax paid   (1,179) (1,098)
       
Net cash generated from operating activities in continuing operations   13,194  4,641
Net cash generated from operating activities in discontinued operations   -  5,477
Net cash generated from operating activities   13,194 10,118
       
Cash flows from investing activities      
Acquisition of subsidiaries (net of overdraft/cash acquired)   (12,640)  (1,258)
Contingent/deferred consideration paid   (549) -
Disposal of subsidiary, net of costs (including cash disposed)   -  23,922
Dividend received from associate and joint ventures   1,212 113
Loans to joint ventures   - 2,332
Loan repaid by associates   22 500
Other loans   80 (20)
Purchase of intangible assets   (371) (62)
Proceeds from sale of property, plant and equipment   691 349
Purchase of property, plant and equipment   (2,854) (5,788)
Purchase of own shares held in trust   (4) (12)
Redemption of preference shares in joint venture   150 150
Net cash (used in)/generated from investing activities in continuing operations   (14,263)  20,226
Net cash used in investing activities in discontinued operations   -  (449)
Net cash (used in)/generated from investing activities   (14,263)  19,777
       
Cash flows from financing activities      
Proceeds from issue of ordinary share capital
Net proceeds from issue of new bank loans
  24
6,000
532
153
Finance lease principal repayments   (846) (925)
Repayment of loan from related party   - (500)
Repayment of borrowings   (3,110) (1,614)
Decrease in other borrowings   (2,804) (192)
Dividends paid to shareholders   (19,467) (3,347)
Dividends paid to related party   (245) -
Net cash used in financing activities in continuing operations   (20,448)  (5,893)
Net cash used in financing activities in discontinuing operations   -  (1,408)
Net cash used in financing activities   (20,448) (7,301)
       
Effect of exchange rate changes   344 918
Net (decrease)/increase in cash and cash equivalents   (21,173)  23,512
       
Cash and cash equivalents at beginning of the year   39,787 16,275
Cash and cash equivalents at end of the year   18,614 39,787

 



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