Annual Report 2011 - Food Junction

Consolidated Cash Flow Statements
For the fi nancial year ended 31 December 2011
2011 2010
$’000 $’000
Cash flows from operating activities
Profit before taxation 1,986 3,329
Adjustments:
Exchange (gain)/loss (70) 32
Depreciation of fixed assets 3,014 2,484
Loss on disposal of fixed assets 28 94
Fixed assets written off 725 99
Finance cost on provision for reinstatement cost 47 41
Amortisation of intangible assets 164 54
Interest income (368) (240)
Lease expense relating to fair value of rental deposits 309 186
Lease expense on straight-line basis over the lease term 32 285
Impairment loss on fixed assets 523 –
Operating cash flows before changes in working capital 6,390 6,364
(Increase)/decrease in:
Inventories (236) 46
Trade receivables, other receivables and deposits, and prepayments
and other recoverables (111) (1,262)
Fixed deposits pledged with banks (128) (97)
Increase/(decrease) in:
Trade payables, other payables, deposits received, accruals and
deferred income 1,337 2,729
Cash generated from operations 7,252 7,780
Interest income received 58 62
Income taxes paid (832) (903)
Net cash flows generated from operating activities 6,478 6,939
Cash flows from investing activities
Purchase of fixed assets (4,135) (3,072)
Proceeds from disposal of fixed assets 15 65
Net cash outflow on acquisition of subsidiary company (Note 4) – (3,586)
Net cash flows used in investing activities (4,120) (6,593)
Cash flows from financing activity
Purchase of treasury shares (1,087) (286)
Dividends paid on ordinary shares of the Company (318) (972)
Net cash flow used in financing activity (1,405) (1,258)
Net increase/(decrease) in cash and cash equivalents 953 (912)
Cash and cash equivalents at beginning of year 19,551 20,463
Cash and cash equivalents at end of year (Note 10) 20,504 19,551
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Annual Report 53