Cash Flow: Half Year 2020

For half year ended 30 June 2020

  1H 2020 £m 1H 2019 £m
Cash generated from continuing operations  59.0 61.1
Net capital expenditure  (15.8) (27.9)
Net interest (3.2) (4.6)
Tax paid  (7.0) (14.4)
Lease payments (6.6) (5.8)
Free cash flow before acquisitions, disposals and dividends2  26.4 8.4
Dividends paid to external plc shareholders - (19.9)
Net cash flows from other investing and financing activities  (7.2) (3.0)
Net cash flows from divestments and discontinued operations  (0.1) 0.3
Exchange movement and other non-cash movements  (10.6) 0.1
Opening net debt1 excluding lease liabilities  (156.8) (179.8)
Closing net debt1 excluding lease liabilities  (148.3) (193.9)
Closing lease liabilities (63.5) (69.0)
Closing net debt2  (211.8) (262.9)
1. Free cash flow before acquisitions, disposals and dividends is re-presented for 1H 2019 to include lease payments and proceeds from the sale of property, plant and equipment within its definition.
2. Definitions of these non-GAAP measures can be found in the glossary of terms on page 41, reconciliations of the statutory results to the adjusted measures can be found on pages 14 to 17.

See our 2019 full year Financial Highlights to learn more.