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34
Note
2013
2012
$’000
$’000
Cash flows from operating activities:
Profit before taxation
14,711
14,280
Adjustments for:
Depreciation of property, plant and equipment and investment property
8,209
9,349
Gain on disposal of property, plant and equipment
(421)
(228)
Gain on disposal of associated company
(11,935)
–
Fair value loss/(gain) on derivatives
206
(714)
Property, plant and equipment written-off
2,639
7
Bad debts written-off
146
100
Foreign currency translation adjustment
185
433
Interest income
(111)
(84)
(Write-back of)/provisions for product warranties
(180)
240
(Write-back of)/impairment loss on property, plant and equipment
(765)
500
Interest expenses
5,529
5,953
Share of profits of associated company
–
(2,289)
Operating profit before reinvestment in working capital
18,213
27,547
Decrease/(increase) in inventories
3,229
(27,359)
Decrease/(increase) in receivables
3,001
(16,522)
Increase in payables
3,051
2,495
Cash generated from/(used in) operations
27,494
(13,839)
Interest received
111
84
Interest paid
(5,529)
(5,953)
Income tax paid
(3,784)
(4,690)
Net cash provided by/(used in) operating activities
18,292
(24,398)
Cash flows from investing activities:
Proceeds from disposal of property, plant and equipment
726
286
Proceeds from disposal of associated company
21,573
–
Proceeds from exercise of employee share options
312
–
Dividend income from associated company
–
475
Purchase of property, plant and equipment
(10,441)
(5,335)
Net cash provided by/(used in) investing activities
12,170
(4,574)
Cash flows from financing activities:
Proceeds from long-term loans
32,145
2,227
(Repayment of)/proceeds from trust receipts
(13,771)
14,253
(Repayment of)/proceeds from revolving loans
(9,299)
16,775
Repayment of hire-purchase liabilities
(889)
(981)
Dividend paid to shareholders
(3,523)
(3,523)
Repayment of long-term loans
(18,424)
(10,115)
Net cash (used in)/provided by financing activities
(13,761)
18,636
Net increase/(decrease) in cash and cash equivalents
16,701
(10,336)
Cash and cash equivalents at beginning of financial year
16,931
27,743
Exchange rate adjustment to cash and cash equivalents at beginning
of financial year
(937)
(476)
Cash and cash equivalents at end of financial year
21
32,695
16,931
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Consolidated Statement of Cash Flow
For the year ended 30 April 2013
(In Singapore dollars)
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