RE: Interims7 Aug 2023 15:47
I tend to agree with Lancashire 29.
PBT is 52.2
Net cash flow is 20.3 outflow
The biggest component of the difference is from releasing an amount previously provided for bonuses. This created 54.4 of income / profit.
Cash flow is not affected by accruals so the 20.3 cash flow can't be made better or worse by movements in the bonus or any other provision.
By the way this is just an accounting comment. I know nothing about this company except from the accounts that it provides and releases amounts for bonuses (£100m provided last year) that are high compared with PBT so these provision movements might distort cash flow statements over a short period of say six months.