Annual Report - Bega Cheese

Financial Statements
Period Financial Ended Statements 30 June 2010
Notes Period to Ended the Financial 30 June Statements
2010
Notes to the Financial Statements
30. Notes to the Cash Flow Statement (cont.)
Consolidated
Company
c.
Reconciliation of profit for the period to net cash flows from
operating activities
2010 2009 2010 2009
$'000 $'000 $'000 $'000
Profit after income tax 23,267 9,330 7,307 17,477
Adjustments for non-cash items
Depreciation of non-current assets 20,636 16,056 13,488 9,128
Gain on acquisition of business - (8,730) - (8,730)
Impairment of goodwill - 3,615 - 3,615
Loss/(profit) on sale of
property, plant and equipment 133 (585) 324 63
investments (205) (2,675) (205) (2,675)
Interest income received and receivable (438) (499) (230) (231)
Change in value of derivatives (2,741) 124 (13) 124
Interest payable on leases 83 208 - -
Dividend receivable - (664) (859) (4,341)
Discount on deferred consideration 382 681 382 681
Charges in provisions for doubtful debts (269) 115 (217) 228
Changes in provision for stock obsolescence 1,365 500 551 500
Changes in net assets and liabilities:
net of effects from acquisitions
(Increase)/decrease in assets:
Trade and other debtors and GST recoverable 5,894 (18,949) (872) (17,974)
Inventories (19,838) 23,528 159 (5,998)
Prepayments 139 1,406 94 1,288
Increase/(decrease) in liabilities:
Trade creditors 11,867 (8,392) (1,224) (938)
Accrued expenses and sundry creditors 12,844 (6,149) 8,780 3,325
Increase/(decrease) in other tax balances (2,881) 2,675 1,207 3,587
Changes in provisions 2,980 570 2,805 168
Net cash flow from operating activities 53,218 12,165 31,477 (703)
Bega Cheese Limited 2010 Annual Report 60
Bega Cheese Limited 2010 Annual Report 60