Foodstuffs South Island Lim ited Annual Report 2011 Sum m ARy ...

Statements of Cash Flows
for the year ended 28 February 2011
GRoup pAReNt
2011 2010 2011 2010
$000 $000 $000 $000
Cash flows from operating activities
Cash was provided from:
Customers 2,466,497 2,356,076 2,242,384 2,116,978
Insurance proceeds received (excluding Property, Plant, & Equipment) 5,439 - 5,439 -
Interest received 2,290 1,725 2,289 1,728
Member trading accounts 4,779 - 4,779 -
Cash was applied to:
2,479,005 2,357,801 2,254,891 2,118,706
Purchases, wages and expenses 2,201,938 2,119,102 2,011,449 1,924,401
Members rebates 185,558 154,468 185,412 154,182
Interest paid 8,266 8,410 592 1,546
Member Trading accounts - 4,831 - 4,837
Income tax paid 2,250 6,490 (224) -
2,398,012 2,293,301 2,197,229 2,084,966
Net cash flow from operating activities 80,993 64,500 57,662 33,740
Cash flows from investing activities
Cash was provided from:
Advances from other companies 6,670 2,518 4,514 1,521
Dividends 3,475 3,761 10,382 11,069
Insurance proceeds received for replacement Property, Plant, & Equipment 9,778 - 1,040 -
Sale of property plant and equipment 3,439 742 354 598
Cash was applied to:
23,362 7,021 16,290 13,188
Purchase of intangibles 3,489 4,142 3,440 3,628
Purchase of property plant and equipment 40,139 30,819 9,784 6,097
Advances to related parties 1,517 4,977 1,518 5,620
45,145 39,938 14,742 15,345
Net cash flow from investing activities (21,783) (32,917) 1,548 (2,157)
Cash flows from financing activities
Cash was provided from:
Share capital raised 43,274 16,875 43,274 16,875
Cash was applied to:
43,274 16,875 43,274 16,875
Interest paid on Redeemable Preference Shares 1,804 2,577 1,804 2,577
Dividends paid on Retained Patronage Shares 12,683 1,689 12,683 1,689
Long term borrowings 38,858 53,359 38,858 53,359
53,345 57,625 53,345 57,625
Net cash flow from financing activities (10,071) (40,750) (10,071) (40,750)
Net (decrease)/increase in cash held 49,139 (9,167) 49,139 (9,167)
Opening cash brought forward (7,356) 1,811 (7,356) 1,811
Ending Cash carried forward 41,783 (7,356) 41,783 (7,356)
Represented by:
Bank 41,304 (8,823) 41,304 (8,823)
Overseas currency accounts 467 1,455 467 1,455
Cash on hand 12 12 12 12
41,783 (7,356) 41,783 (7,356)
The attached notes form part of and are to be read in conjunction with the audited financial statements. 31
Foodstuffs (South Island) Limited and Subsidiary Companies