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ANNUAL REPORT 2011/2012
Consolidated Statement of Cash Flows
The accompanying notes form an integral part of these fnancial statements.
2012
$’000
2011
$’000
Cash Flows From Operating Activities
Proft for the Year 53,386 60,109
Adjustments for:
Income Tax Expense 15,942 20,989
Depreciation Expense of Property, Plant and Equipment 17,896 14,389
Dividend Income (103) (155)
Unrealised Foreign Exchange Gains (378) (2,807)
Foreign Currency Translation Differences Reclassifed to Proft or Loss (4,993) –
Gains on Fair Value of Investment Properties (19,446) (50,873)
Interest Expense 23,993 23,111
Interest Income (1,191) (2,198)
Insurance Income, Net of Assets Written-off – (1,101)
Gains on Disposal of Assets Held for Sale – (15)
Losses on Disposal of Property, Plant and Equipment – 67
Provision for Impairment on Completed Properties for Sale 2,602 –
Operating Proft Before Working Capital Changes 87,708 61,516
Properties under Development for Sale (37,407) (105,542)
Completed Properties for Sale 199,653 13,399
Inventories (193) 282
Investments Held-for-trading 1,355 (1,129)
Trade and Other Receivables 4,583 (1,685)
Trade and Other Payables (7,786) 11,512
Restricted bank deposits (3,246) –
Cash Generated from Operations 244,667 (21,647)
Proceeds from Insurance – 6,465
Income Taxes Paid (1,396) (1,682)
Net Cash From/(Used in) Operating Activities 243,271 (16,864)
Year ended 31 March 2012