Landcorp - Crown Ownership Monitoring Unit

LANDCORP FARMING LIMITED AND SUBSIDIARIESStatement of Cash FlowsFOR THE YEAR ENDED 30 JUNE 2010Group Group Parent ParentNote 2010 2009 2010 2009$000 $000 $000 $000Operating ActivitiesCash was received from:Receipts from customersLivestock 86,250 96,325 84,333 95,425Milk 67,405 56,790 48,885 43,696Other receipts from customers 8,868 16,823 11,145 14,908Interest received 62 95 3,312 6,947Dividends received from equity accounted joint ventures 300 1,250 – –Other dividends received 62 28 1,461 5,127Net GST received (paid) 378 (2,650) 961 (4,133)163,325 168,661 150,097 161,970Cash was applied to:Payments to suppliers 98,324 109,997 87,619 93,421Payments to employees 36,164 36,648 33,055 33,534Interest paid 10,746 12,780 11,253 12,735Income tax paid (received) 6 – 135 (1,374)145,240 159,425 132,062 138,316Net Cash Flows from Operating Activities 35 18,085 9,236 18,035 23,654Investing ActivitiesCash was received from:Sale of land and improvements 54,987 33,015 58,947 45,718Sale of other property, plant and equipment 950 891 197 1,092Sale of other investments 4 3,567 1,738 4,26155,941 37,473 60,882 51,071Cash was applied to:Purchase and development of land 18,861 40,821 17,406 35,803Purchase of other property, plant and equipment 9,608 11,828 8,104 10,487Purchase of breeding stock 2,816 2,195 2,647 1,550Purchase of shares and advances 9,653 574 4,062 568Net subsidiary investment – – 13,600 35,29840,938 55,418 45,819 83,706Net Cash Flows from Investing Activities 15,003 (17,945) 15,063 (32,635)50