TPSEAL 2010 Financial Results. - Serena Hotels
TPSEAL 2010 Financial Results. - Serena Hotels
TPSEAL 2010 Financial Results. - Serena Hotels
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Consolidated Statement of Cash Flows<br />
for the year ended 31 December <strong>2010</strong><br />
Notes <strong>2010</strong> 2009<br />
Shs’000 Shs’000<br />
Restated<br />
Operating activities<br />
Cash generated from operations 27 1,512,792 610,523<br />
Interest paid (136,266) (118,735)<br />
Income tax paid (126,645) (24,678)<br />
Net cash generated from operating activities 1,249,881 467,110<br />
Investing activities<br />
Purchase of property, plant and equipment 18 (1,840,991) (359,197)<br />
Proceeds from disposal of property, plant and equipment 227,433 463<br />
Investment in available-for-sale financial asset 17 (161,200) -<br />
Short-term bank deposits - net 24 (591,652) (188,408)<br />
Cash inflow on acquisition of Upekee Lodges Limited 28 111,882 -<br />
Net cash used in investing activities (2,254,528 ) (547,142)<br />
Financing activities<br />
Net proceeds from rights issue of shares 1,150,455 -<br />
Long-term borrowings - net 136,670 215,754<br />
Dividends paid to company’s shareholders 11 (132,331) (132,331)<br />
Net cash generated from financing activities 1,154,794 83,423<br />
Net increase in cash and cash equivalents 150,147 3,391<br />
Movement in cash and cash equivalents<br />
At start of year 49,197 45,806<br />
Increase in cash 150,147 3,391<br />
At end of year 24 199,344 49,197<br />
44 TPS EASTERN AFRICA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS <strong>2010</strong>