Consolidated Balance Sheet | As at | ||||
30 June 2021 | 31 December 2020 | 30 June 2020 | 31 December 2019 | ||
(£ million) | (Unaudited) | (Audited) | (Unaudited) | (Audited) | |
ASSETS | |||||
Non-current assets | |||||
Property, plant and equipment | 1,520.6 | 1,535.3 | 1,537.6 | 1,563.4 | |
Intangible assets | 317.8 | 317.8 | 317.8 | 517.8 | |
Financial asset | 1.9 | 1.6 | 1.5 | 1.5 | |
1,840.3 | 1,854.7 | 1,856.9 | 2,082.7 | ||
Current assets | |||||
Inventories | 35.3 | 37.6 | 34.4 | 32.0 | |
Trade and other receivables | 106.4 | 101.4 | 30.6 | 73.0 | |
Income tax receivable | - | - | - | 3.6 | |
Cash and cash equivalents | 116.1 | 106.3 | 90.9 | 90.8 | |
257.8 | 245.3 | 155.9 | 199.4 | ||
Non-current assets held for sale | 4.8 | 4.8 | 5.1 | 5.1 | |
262.6 | 250.1 | 161.0 | 204.5 | ||
Total assets | 2,102.9 | 2,104.8 | 2,017.9 | 2,287.2 | |
EQUITY AND LIABILITIES | |||||
Equity | |||||
Share capital | 4.0 | 4.0 | 4.0 | 4.0 | |
Share premium | 826.9 | 826.9 | 826.9 | 826.9 | |
Capital reserves | 376.1 | 376.1 | 376.1 | 376.1 | |
EBT share reserves | (0.8) | (0.8) | (0.8) | (0.8) | |
Hedging reserve | (1.9) | (3.2) | (3.9) | (2.1) | |
Retained earnings | (511.6) | (496.4) | (496.5) | (264.2) | |
Equity attributable to owners of the Parent | 692.7 | 706.6 | 705.8 | 939.9 | |
Total equity | 692.7 | 706.6 | 705.8 | 939.9 | |
Non-current liabilities | |||||
Bank borrowings | 420.2 | 418.6 | 419.9 | 419.1 | |
Lease liability | 670.7 | 670.3 | 662.7 | 667.8 | |
Derivatives | 0.1 | 1.5 | 2.6 | 1.5 | |
Other payable | - | - | - | - | |
Deferred tax liability | 75.8 | 53.9 | 53.2 | 51.4 | |
1,166.8 | 1,144.3 | 1.138.4 | 1,139.8 | ||
Current liabilities | |||||
Bank borrowings | 2.2 | 2.2 | 1.6 | 1.7 | |
Lease liability | 79.9 | 79.2 | 7.6 | 77.5 | |
Derivatives | 2.3 | 2.5 | 2.2 | 1.0 | |
Provisions | 32.8 | 33.0 | 15.2 | 13.1 | |
Trade and other payables | 126.1 | 136.9 | 77.1 | 114.2 | |
Income tax payable | 0.1 | 0.1 | - | - | |
243.4 | 253.9 | 173.7 | 207.5 | ||
Total liabilities | 1,410.2 | 1,398.2 | 1.312.1 | 1,347.3 | |
Total equity and liabilities | 2,102.9 | 2,104.8 | 2.017.9 | 2,287.2 |
Consolidated Statement of Cash Flows
Six months ended | Year ended 31 | Six months ended | Year ended 31 | |
30 June 2021 | ||||
December 2020 | 30 June 2020 | December 2019 | ||
(£ million) | (unaudited) | (Audited) | (unaudited) | (Audited) |
Cash flows from operating activities | ||||
(Loss) / profit before taxation | 4.7 | (231.0) | (231.3) | 9.6 |
Adjustments for: | ||||
Depreciation | 47.5 | 94.0 | 46.7 | 91.6 |
Adjusting Items, including impairment and held for sale revaluations | 2.3 | 209.7 | 201.2 | (1.9) |
Share-based payments | 1.7 | 1.7 | 0.8 | 1.0 |
Fair value movement on financial assets | (0.6) | - | (0.1) | - |
(Profit) / Loss on disposal of property, plant and equipment | (0.1) | - | - | (0.2) |
Finance costs | 41.5 | 85.6 | 41.5 | 84.8 |
97.0 | 160.0 | 58.8 | 184.9 | |
Movements in working capital: | ||||
(Increase)/Decrease in trade and other receivables | (5.5) | (15.5) | 42.4 | 8.1 |
Decrease/(Increase) in inventories | 2.3 | (5.6) | (2.4) | (2.6) |
Decrease in trade and other payables | (8.0) | 18.5 | (28.9) | 15.7 |
(Decrease)/increase in provisions | (0.1) | (1.3) | 2.1 | (3.3) |
Cash generated from operations | 85.7 | 156.1 | 72.0 | 202.8 |
Income tax received | - | 3.6 | 3.6 | (1.1) |
Net cash from operating activities | 85.7 | 159.7 | 75.6 | 201.7 |
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (31.6) | (46.6) | (28.1) | (60.6) |
Proceeds of disposal of Sussex assets (Adjusting Item) | 2.0 | - | - | - |
Proceeds from disposal of assets held for sale | - | - | - | 11.6 |
Proceeds of disposal of property, plant and equipment | 0.1 | - | - | 0.2 |
Interest received and income from financial asset | - | 0.3 | - | 0.2 |
Net cash used in investing activities | (29.5) | (46.3) | (28.1) | (48.6) |
Cash flows from financing activities | ||||
Bank interest paid | (6.5) | (18.1) | (7.8) | (17.4) |
Lease interest paid | (32.7) | (66.4) | (29.0) | (58.1) |
Payment of lease principal | (7.2) | (13.4) | (10.6) | (19.3) |
Dividends paid to equity holders of parent | - | - | (15.2) | |
Net cash used in financing activities | (46.4) | (97.9) | (47.4) | (110.0) |
Net increase in cash and cash equivalents | 9.8 | 15.5 | 0.1 | 43.1 |
Cash and cash equivalents at beginning of period | 106.3 | 90.8 | 90.8 | 47.7 |
Cash and cash equivalents at end of period | 116.1 | 106.3 | 90.9 | 90.8 |
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Spire Healthcare Group plc published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 07:21:03 UTC.