37
F I N A N C I A L S T A T E M E N T S
2 0 1 5 |
WE L ANNUA L REPOR T
37
Statement of Cash Flows
For the year ended 31 March 2015
Note
Group
2015
($000)
Group
2014
($000)
Parent
2015
($000)
Parent
2014
($000)
Cash flows from operating activities
Receipts from customers
188,570
167,895
104,109
103,478
Payments to employees and suppliers
(136,367)
(122,907)
(47,425)
(46,262)
Interest received
-
-
3,709
1,622
Interest paid
(3,541)
(1,840)
(7,562)
(4,347)
Income tax paid
(5,391)
(4,175)
(6,311)
(4,175)
Net cash from operating activities
43,271
38,973
46,520
50,316
Cash flows from investing activities
Proceeds from sale of property, plant and equipment
877
4,202
820
4,173
Purchases of property, plant and equipment
(58,187)
(51,652)
(58,098)
(51,475)
Purchases of intangible assets
(3,377)
(5,167)
(2,820)
(1,619)
Purchase of investments
(39,439)
(24,484)
(44,900)
(23,079)
Net cash used in investing activities
(100,126)
(77,101)
(104,998)
(72,000)
Cash flows from financing activities
Proceeds from borrowings
18
55,131
51,850
47,466
47,800
Repayment of intercompany loan
27
-
-
9,363
(12,197)
Interest on convertible notes
27
(3,120)
(3,120)
(3,120)
(3,120)
Dividend paid
28
-
(10,000)
-
(10,000)
Net cash used in financing activities
52,011
38,730
53,709
22,483
Net increase / (decrease) in cash and cash equivalents
(4,844)
602
(4,769)
799
Cash and cash equivalents at the beginning of the year
1,883
1,281
1,704
905
Cash and cash equivalents at the end of the year
(2,961)
1,883
(3,065)
1,704
Comprises of the following:
Cash and deposits
(2,961)
1,883
(3,065)
1,704
(2,961)
1,883
(3,065)
1,704
Reconciliation of net profit after tax to net cash flows - operating activities
Net profit after tax
12,925
17,379
20,507
20,650
Adjustments for items not involving cash flows:
Depreciation
21,528
21,079
21,424
20,958
Amortisation
2,901
2,381
1,969
2,062
Loss on sale of property, plant and equipment
3,638
2,789
2,662
2,789
Net movements in provision for liabilities and charges
554
171
(2,191)
(31)
Deferred tax asset
3,115
1,386
1,210
1,775
Loss / (gain) on disposal of share in joint venture
2,246
1,139
-
-
Share of loss of joint venture
2,933
1,398
-
-
Changes in working capital:
Trade and other receivables
(6,494)
101
(1,181)
(1,109)
Construction work in progress
(5,055)
(9,488)
-
-
Trade and other payables
7,675
(147)
2,897
2,540
Current income tax liabilities
(2,695)
785
(777)
682
Net cash inflow from operating activities
43,271
38,973
46,520
50,316
The above statement of cash flows should be read in conjunction with the accompanying notes.
