Group Cash Flow Statement
Year ended 31 December 2011
| 2011 | 2010 | ||
| Notes | €'000 | €'000 | |
| Net cash inflow from operating activities | 26(a) | 48,491 | 71,452 |
| Return on investment and servicing of finance | |||
| Net interest | 26(b) | (8,569) | (10,105) |
| Taxation | (1,708) | (2,819) | |
| Capital expenditure | |||
| Purchase of tangible fixed assets | 26(c) | (42,421) | (45,372) |
| Sale of tangible fixed assets | 26(d) | 8,624 | 10,763 |
| Capital grants received | 26(e) | 1,709 | 2,663 |
| Sale of JV shareholding | - | 193 | |
| Net cash outflow from capital expenditure | (32,088) | (31,753) | |
| Equity dividends paid to shareholders | 7 | (10,000) | - |
| Net cash (outflow)/inflow from management of liquid resources | (3,874) | 26,775 | |
| Financing | |||
| Capital element of finance lease payments | 26(e) | 31 | (16) |
| Increase in borrowings | 26(h) | 10,000 | 2,300 |
| Increase in cash at bank | 6,157 | 29,059 |
Brendan McKenna (Chairman) David Gunning (Chief Executive)