25. Net cash flow from operating activities

	2023 £000	2022 £000
Operating profit from operations	30,154	22,803
Adjustments:
Depreciation of property, plant and equipment (note 13)	5,407	5,163
Gain on disposal of other property, plant and equipment	(52)	(11)
Amortisation of intangible assets (note 12)	3,416	5,369
Movements in pension scheme (note 29)	(2,226)	(2,045)
Share of results of JVs and associates (note 15)	(1,898)	(1,346)
Share-based payments (note 22)	3,420	989
Right-of-use asset depreciation (note 14)	1,840	1,702
Operating cash flows before movements in working capital	40,061	32,624
Decrease/(increase) in inventories	4,774	(7,774)
Decrease/(increase) in receivables	10,701	(50,533)
(Decrease)/increase in payables	(1,724)	23,781
Cash generated from/(used in) operations	53,812	(1,902)
Tax paid	(3,520)	(3,783)
Net cash flow from operating activities	50,292	(5,685)

	2023 £000	2022 £000
Cash generated from operations	53,812	(1,902)
Proceeds on disposal of other property, plant and equipment	317	376
Purchases of land and buildings	(635)	(2,759)
Purchases of other property, plant and equipment	(5,668)	(2,507)
	47,826	(6,792)
Underlying operating profit (before JVs and associates)	33,067	26,881
Operating cash conversion	145%	(25%)

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