Investor Presentaiton
•
Financial results
Cash flow
Consistently high conversion of profits
to cash flow
Operating cash flow of £213.1
million (1) represents 109% of
adjusted EBITDA (FY2019/20:
116%)
.
Cash flow provides for:
- Corporation tax
- Ordinary dividends to shareholders
- Share purchases to satisfy
employee equity awards, avoids
dilution
-
Net investment in seed capital
Lower closing cash balance due to
translation impact of stronger Sterling
(1) Excludes consolidated funds. See Appendix for reconciliation to
statutory consolidated cash flow statement
Opening cash
Operations
490.1
Taxation
Cash flow (Em) (1)
213.1
64.3
121.2
23.3
6.8
2.2
485.4
Dividends
EBT purchases
Net seeding
Other
35
FX and other
Closing cash
39.7
445.7
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