2012 TPSEA Annual Report - Serena Hotels
2012 TPSEA Annual Report - Serena Hotels
2012 TPSEA Annual Report - Serena Hotels
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Consolidated Statement of Cash Flows<br />
for the year ended 31 December 2011<br />
Notes 2011 2010<br />
Shs’000 Shs’000<br />
Restated<br />
Operating activities<br />
Cash generated from operations 26 451,566 1,512,792<br />
Interest paid (109,923) (136,266)<br />
Income tax paid (152,972) (126,645)<br />
Net cash generated from operating activities 188,671 1,249,881<br />
Investing activities<br />
Purchase of property, plant and equipment 18 (782,438) (1,840,991)<br />
Proceeds from disposal of property, plant and equipment 298 227,433<br />
Investment in associates 17 & 22 (420,706) (161,200)<br />
Short-term bank deposits - net 646,373 (591,652)<br />
Cash inflow from minority shareholders of Upekee Lodges Limited 27 52,522 111,882<br />
Net cash used in investing activities (503,951) (2,254,528)<br />
Financing activities<br />
Net proceeds from rights issue of shares 12 - 1,150,455<br />
Long-term borrowings - net 495,965 136,670<br />
Dividends paid to Company’s shareholders 11 (185,264) (132,331)<br />
Net cash generated from financing activities 310,701 1,154,794<br />
Net (decrease)/increase in cash and cash equivalents (4,579) 150,147<br />
Movement in cash and cash equivalents<br />
At start of year 199,344 49,197<br />
(Decrease)/increase in cash (4,579) 150,147<br />
At end of year 24 194,765 199,344<br />
TPS EASTERN AFRICA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2011 43
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