BUILDING ON OUR EXTENSIVE NETWORK
Note 2015
2014
$’000
$’000
Cash flows from operating activities:
Profit before taxation
3,480
10,573
Adjustments for:
Depreciation of property, plant and equipment
9,033
7,389
Gain on disposal of property, plant and equipment
(124)
(5,644)
Fair value (gain)/loss on derivatives
(440)
177
Property, plant and equipment written-off
94
2
Bad debts written-off
125
54
Foreign currency translation adjustment
637
(1,234)
Interest income
(131)
(137)
Provision for product warranties and reinstatement cost
448
446
Write-back of impairment loss on property, plant and equipment
(8)
(8)
Interest expenses
4,938
4,309
Share of results of joint ventures
(89)
718
Operating cash flows before changes in working capital
17,963
16,645
(Increase)/decrease in inventories
(1,172)
9,874
(Increase)/decrease in receivables
(5,270)
17,329
Decrease in payables
(8,001)
(3,027)
Cash flows from operations
3,520
40,821
Interest received
131
137
Interest paid
(4,938)
(4,309)
Income tax paid
(2,565)
(2,266)
Net cash flows (used in)/generated from operating activities
(3,852)
34,383
Cash flows from investing activities:
Proceeds from disposal of property, plant and equipment
215
6,499
Purchase of property, plant and equipment
(6,964)
(22,956)
Net cash flows used in from investing activities
(6,749)
(16,457)
Cash flows from financing activities:
Proceeds from long-term loans
756
13,955
Proceeds from/(repayment of) trust receipts
8,835
(14,225)
Proceeds from/(repayment of) revolving loans
8,964
(7,664)
Repayment of hire-purchase liabilities
(1,317)
(1,146)
Dividend paid to shareholders
(3,534)
(3,534)
Repayment of long-term loans
(5,721)
(8,019)
Net cash flows generated from/(used in) financing activities
7,983
(20,633)
Net decrease in cash and cash equivalents
(2,618)
(2,707)
Cash and cash equivalents at beginning of financial year
18,637
21,595
Effects of exchange rate changes on cash and cash equivalents at
beginning of financial year
(169)
(251)
Cash and cash equivalents at end of financial year
20
15,850
18,637
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 2015
(In Singapore Dollars)
ANNUAL REPORT 2015
40
