Chief Financial Officer’s review continued
Earnings per share (EPS)
2022
2021
Statutory Basic EPS Diluted EPS Adjusted 1 Basic EPS Diluted EPS
7.4p 7.4p
3.6p 3.5p
10.8p 10.8p
9.5p 9.5p
Weighted average number of shares (million) Basic
309.5 310.9
281.2 282.7
Diluted
The weighted average number of shares has increased mainly as a result of an increase in shares issued arising from the share placing in May 2021 that partially funded the recent acquisition of IPM.
Cash flow and net debt 1 The table below summarises the Group’s cash flow and net debt 1 :
2022 £m
2021 £m
Operating cash inflow before movements in working capital
49.3
47.3
(1.8)
(Increase)/decrease in trade and other receivables
4.7
0.2
Decrease/(increase) in inventories
(0.2) (5.5)
12.6
Increase/(decrease) in trade and other payables
Cash generated from operating activities before interest and taxation
60.3
46.3
(1.2) (2.1) (2.2)
Interest element of lease payments
(1.2) (1.1) (5.1)
Other interest paid
Taxation paid
Net cash generated from operating activities Cash flows from investing activities: Purchase of property, plant and equipment
54.8
38.9
(5.2) (3.0)
(2.7) (2.1)
Software and development expenditure Net proceeds on disposal of intangibles
–
0.5
(153.0)
Acquisition of trade and assets as part of a business combination
–
(14.4)
Equity dividends paid
(13.0)
(5.4) (0.2)
Repayment of lease liabilities (principal amount) Repurchase of shares (share‑based payments) Proceeds from the issue of ordinary share capital
(6.0)
–
0.8
72.6
Net movement
(125.3)
88.2
83.3
Opening net cash/(debt) 1
(4.2) (0.2) (0.5)
(0.4)
Non-cash movements (release of deferred issue costs)
(10.0)
Foreign exchange movement
Closing net (debt)/cash (excluding lease liabilities) 1
(52.4) (32.6)
83.3
Lease liabilities
(34.4)
Closing net debt 1
(85.0)
48.9
62
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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