Year ended 31 Dec 2017 £m			Half year to 30 June 2018 £m	Half year to 30 June 2017 £m
97.3		Profit for the period	50.8	43.6
		Adjustments for:
(0.1)		Investment revenue	(0.1)	–
2.5		Finance costs	1.1	1.2
19.7		Taxation	16.4	14.6
58.1		Depreciation of property, plant and equipment	29.0	28.8
6.2		Amortisation of intangible assets	2.8	2.9
(0.7)		Profit on disposal of property, plant and equipment	–	(0.1)
7.8		Share-based payments	2.1	2.7
0.4		Impairment of fixed assets	0.4	0.4
191.2		EBITDA*	102.5	94.1
0.5		(Increase)/decrease in inventories	(2.1)	0.5
(17.0)		Increase in receivables	(10.9)	(9.8)
10.2		(Decrease)/increase in payables	(5.2)	4.0
(2.1)		Decrease in provisions	(1.7)	(1.5)
182.8		Cash generated by operations	82.6	87.3
(22.9)		Income taxes paid	(11.3)	(14.3)
159.9		Net cash from operating activities	71.3	73.0

* Earnings before interest, tax, depreciation, amortisation, impairment, profit or loss on disposal of property, plant and equipment and share-based payments.

Cash and cash equivalents comprise:

41.0		Cash and bank balances	28.6	20.0
(1.4)		Bank overdrafts (included in borrowings)	(3.0)	(2.3)
39.6			25.6	17.7