ZaraAnnual-English2015
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
ZARA INVESTMENT (HOLDING) COMPANY P.L.C.<br />
CONSOLIDATED STATEMENT OF CASH FLOWS<br />
FOR THE YEAR ENDED 31 DECEMBER 2015<br />
Operating Activities<br />
Notes 2015 2014<br />
JD<br />
JD<br />
Profit (loss) before income tax (984,780) 2,164,189<br />
Adjustments for<br />
Depreciation 13,911,126 14,914,017<br />
Dividends income (36,418) (36,418)<br />
Gain on sale and disposal of property and equipment (12,000) (55,725)<br />
Finance costs 1,814,287 2,643,680<br />
Interest income (242,807) (373,650)<br />
Provision for projects in progress - -<br />
Provision for doubtful accounts, net 272,755 258,513<br />
Other provisions 155,629 48,706<br />
Reversal of other provisions - (3,907)<br />
Changes in working capital<br />
Inventories 93,368 (200,000)<br />
Accounts receivable 1,133,677 234,842<br />
Other current assets 548,813 (131,115)<br />
Accounts payable (797,342) (1,059,880)<br />
Other current liabilities (667,560) (244,263)<br />
Other provisions paid (137,924) (113,459)<br />
Income tax paid (552,450) (553,292)<br />
Net cash flows from operating activities 14,498,374 17,492,238<br />
The accompanying notes from 1 to 34 form part of these consolidated financial statements<br />
68<br />
Consolidated Financial Statements
Change language