NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:20 pm – mac5 – 3776 Section 10c : 3776 Section 10cConsolidated statement of cash flowsRestatedYear Yearended ended31 Dec. 31 Dec.200511112200411112KD ‘000 KD ‘000OPERATING ACTIVITIESProfit for the year...................................................................................... 208,136 46,540Adjustments:Depreciation of property, plant and equipment ...................................... 4,518 4,905Loss/(profit) on disposal of property, plant and equipment .................... 6 (153)Impairment in value of property, plant and equipment .......................... 1,709 –Loss on revaluation of freehold property ................................................ – 307Amortisation of goodwill ........................................................................ – 2,174Impairment in value of goodwill.............................................................. 13,086 2,422Share of profits of associates and joint ventures .................................. (15,193) (5,152)Profit on disposal of investment properties............................................ – (161)Change in fair value of investment properties ........................................ – (1,544)Income from wakala investment ............................................................ (236) –Dividend income from available for sale investments ............................ (2,477) (2,335)Profit on sale of available for sale investments ...................................... (13,793) (12,000)Impairment in value of available for sale investments............................ 999 914Reversal of impairment in value of available for sale investments ........ – (3,666)Profit on partial disposal of associates .................................................. (72,124) (5,187)Net loss/(profit) on disposal of subsidiaries/businesses ........................ 2,357 (560)Reorganisation, redundancy, guarantee and other costs........................ 3,678 966Cost of share based payments .............................................................. 2,325 –Net provisions charged .......................................................................... 3,062 1,886Finance costs .......................................................................................... 18,735 10,193Interest income ...................................................................................... (1,619)11112(190)11112Operating profit before changes in operating assets and liabilities ............ 153,169 39,359Changes in operating assets and liabilities:Inventories ............................................................................................ 3,003 138Accounts receivable and other assets .................................................... (10,174) 2,222Investments at fair value through statement of income ........................ (163,916) (48,766)Accounts payable and other liabilities .................................................... 5,451111121,13611112Cash used in operations ............................................................................ (12,467) (5,911)Payment of reorganisation, redundancy, guarantee and other costs ........ (992) (777)Taxation paid .............................................................................................. (420) (156)KFAS contribution paid................................................................................ (1,195) (55)Directors’ remuneration paid ...................................................................... (120) (120)National labour support tax paid ................................................................ (2,522)11112(31)11112Net cash used in operating activities .................................................... (17,716) (7,050)11112 1111211112 11112F-53