2007 Annual Report - Sappi
2007 Annual Report - Sappi
2007 Annual Report - Sappi
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Notes to the group annual financial statements continued<br />
for the year ended September <strong>2007</strong><br />
US$ million <strong>2007</strong> 2006<br />
24. Notes to the cash flow statement<br />
24.1 Cash generated from operations<br />
Profit (loss) after taxation per income statement 202 (4)<br />
Adjustment for:<br />
– Depreciation 374 390<br />
– Fellings 70 74<br />
– Amortisation 1 2<br />
– Taxation charge (benefit) 47 (1)<br />
– Net finance costs 134 130<br />
– Other asset impairments (reversals) and write-offs 2 (14)<br />
– Fair value adjustment gains and growth on plantations (130) (104)<br />
– Increase in post employment benefits (101) (68)<br />
– Other non-cash items (14) (9)<br />
585 396<br />
24.2 Increase in working capital<br />
Decrease (increase) in inventories 44 (3)<br />
Increase in receivables (38) (3)<br />
Increase (decrease) in payables 54 (11)<br />
60 (17)<br />
24.3 Finance costs paid<br />
Gross interest and other finance costs (173) (162)<br />
Net foreign exchange gains 13 7<br />
Net loss on marking to market of financial instruments (9) (3)<br />
Non-cash movements included in items above (14) (6)<br />
(183) (164)<br />
24.4 Taxation paid<br />
Amounts unpaid at beginning of year (101) (120)<br />
Translation effects (12) 9<br />
Amounts charged to the income statement (38) (5)<br />
Reversal of non-cash movements (1) 2<br />
Amounts unpaid at end of year 125 101<br />
Cash amounts paid (27) (13)<br />
24.5 Replacement of non-current assets<br />
Property, plant and equipment (116) (160)<br />
126<br />
sappi limited | 07 | annual report
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