EAPCC_Annual_Report_.. - Investing In Africa

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2010/2011 EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2011 42. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued) Market risk (i) Foreign exchange risk UShs US$ YEN DKK 2011 KShs’000 KShs’000 KShs’000 KShs’000 Assets Bank and cash balances 54,392 14,925 - - Loan swap asset - - 916,925 - Trade receivables and other receivables 19,088 410,919 - - 73,480 425,844 916,925 - Liabilities Borrowings - - 3,686,925 Loan swap liability - 929,580 - - Trade and other payables - 29,464 - - - 959,044 3,686,925 - 2010 Assets Bank and cash balances 40,545 79,074 - - Trade receivables 54,178 80,789 - - 94,723 159,863 - - Liabilities Borrowings - - 3,402,186 - Trade and other payables - 30,991 47,361 27,909 - 30,991 3,449,547 27,909 Foreign exchange risk – Appreciation/depreciation of Kenya shilling against other currency by1% 78 EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2010/2011
EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2010/2011 The following sensitivity analysis shows how profit and equity would change if the market risk variables had been different on the reporting date with all other variables held constant. 2011 2010 KShs’000 KShs’000 Effect on profit Effect on equity Effect on profit Effect on equity Currency – Ugandan shillings + 1% KShs movement 735 514 (947) (663) - 1% KShs movement (735) (514) 947 663 Currency - US dollars + 1% KShs movement (5,332) (3,732) 1,288 902 - 1% KShs movement 5,332 (3,732) (1,288) (902) Currency – YEN + 1% KShs movement 27,700 19,390 (34,495) (24,147) - 1% KShs movement (27,700) (19,390) 34,495 24,147 EAST AFRICAN PORTLAND CEMENT COMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2010/2011 79
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