25. Discontinued operations

Discontinued operations in 2012 comprise the results of the Alent group of companies for the period up to 19 December 2012, when they were demerged from Vesuvius, together with the results of the US Precious Metals Processing business for the period up to 1 May 2012 when it was sold and the European Precious Metals Processing business, which was held for sale as at 31 December 2012, for the whole of the year. Prior year comparatives in the Group income statement have been restated accordingly.

Further details, along with the effects of the disposals on the financial position of the Group, can be found in note 24.

25.1 Results of discontinued operations

Notes2012
£m
2011
£m
Revenue888.01,140.6
Expenses(785.7)(1,035.5)
Profit before tax102.3105.1
Income tax costs(31.1)(22.7)
Profit/(loss) on disposal of discontinued operations24541.3(34.9)
Profit for the year attributable to owners of the parent612.547.5
Earnings per share — pence
Basic220.817.2
Diluted218.816.9

25.2 Cash flows from discontinued operations

2012
£m
2011
£m
Net cash inflow/(outflow) from:
— operating activities22.573.1
— investing activities(80.7)(23.4)
— financing activities0.4
Net cash (outflow)/inflow for the year(57.8)49.7