Annual Report 2011/12 - International Entertainment Corporation

Consolidated Statement of Cash FlowsFor the year ended 31 March 20122012 2011HK$’000 HK$’000OPERATING ACTIVITIESProfit before taxation 117,329 816,559Adjustments for:Interest income (90,730) (23,703)Interest expense – 24,957Allowance (reversal of allowance) for bad and doubtful debts for tradeand other receivables 95 (292)Allowance for other assets 3,988 –Change in fair value of conversion option derivative – (60,000)Change in fair value of financial assets at fair value through profit or loss 21,639 3,171Depreciation of property, plant and equipment 53,312 55,139Depreciation of investment properties 123,242 119,064Net gain on disposal of a subsidiary – (657,873)Gain on disposal of available-for-sale financial assets – (2,242)Share of profit of an associate – (21,272)Loss (gain) on disposal of property, plant and equipment 8 (1)Dividend income from financial assets at fair value through profit or loss (2,027) (780)Dividend income from available-for-sale financial assets – (2,854)Operating cash flows before movements in working capital 226,856 249,873Decrease (increase) in other assets 1,180 (230)(Increase) decrease in inventories (241) 210Decrease in financial assets at fair value through profit or loss 6,363 –Increase in trade receivables (30,732) (8,027)Increase in other receivables, deposits and prepayments (10) (2,382)(Decrease) increase in trade payables (879) 1,918Increase in other payables and accrued charges 6,159 5,308Increase in other liabilities 1,217 398NET CASH FROM OPERATING ACTIVITIES 209,913 247,068International Entertainment Corporation - Annual Report 2011/12 33