Annual Report 2011 - Colombo Stock Exchange

CASH FLOW STATEMENTCash flows from operating activitiesProfit before Taxation 85,460 84,869Adjustment for :Depreciation on property, plant and equipment 10,402 6,576Provision for retiring gratuity 1,403 682Interest income (102) (98)Provision for bad and doubtful debts 1,800 3,325Gain on disposal of property, plant and equipment (5,729) -Interest expense 7,911 7,320Operating profit before working capital changes 101,145 102,674(Increase) / Decrease in inventories (13,112) (57,349)(Increase) / Decrease in trade and other receivables (29,470) (47,538)Increase / (Decrease) in trade and other payables (16,425) 14,860Cash flows from operating activities 42,138 12,646Retiring gratuity paid (615) -Income tax paid (33,971) (29,112)Interest paid (7,447) (7,307)Net cash flows from operating activities 105 (23,773)Cash flows from investing activitiesUNION CHEMICALS LANKA PLC2 0 1 1 - A N N U A L R E P O R TthFor the year ended 25 December 2011Rs.‘0002010Rs.‘000Purchase and construction of property, plant and equipment (30,978) (14,055)Proceeds from disposal of property, plant and equipment 5,743 -Interest received 102 98Net cash out flows from investing activities (25,133) (13,957)Cash flows from financing activitiesTerm loans obtained during the year 79,359 87,570Repayment of term loans (39,846) (60,959)Dividend paid (16,723) (19,214)Net cash inflows from financing activities 22,790 7,397Net increase / (decrease) in cash & cash equivalents (2,236) (30,332)Cash & cash equivalents at the beginning of the year (37,482) (7,150)Cash & cash equivalents at the end of the year (Note A) (39,718) (37,482)Note (A)Analysis of cash and cash equivalentsCash in hand and at bank 3,500 4,843Short term borrowings (43,218) (42,325)(39,718) (37,482)The Notes on pages 24 to 39 form an integral part of these Financial Statements23