47
AVI-TECH ELECTRONICS LIMITED
| ANNUAL REPORT 2015
CONSOLIDATED STATEMENT OF
CASH FLOWS
Year ended 30 June 2015
Group
2015
2014
$’000
$’000
Operating activities
Profit (Loss) before income tax
Continuing operations
3,868
(421)
Discontinued operations
2,829
(9,392)
Adjustments for:
Loss on disposal of subsidiary
143
–
(Reversal of) Allowance for doubtful debts
(273)
352
(Reversal of) Allowance for inventories obsolescence
(2,179)
2,760
Amortisation of other intangible assets
–
394
Depreciation of property, plant and equipment
1,432
1,649
Impairment of goodwill
–
686
Impairment of other intangible assets
–
1,439
Impairment of plant and equipment
–
170
(Gain) Loss on disposal of property, plant and equipment
(4)
10
Net foreign exchange gain
(638)
–
Interest expense
39
137
Interest income
(180)
(267)
Operating cash flows before movements in working capital
5,037
(2,483)
Trade receivables
(1,874)
3,731
Other receivables and prepayments
(389)
147
Inventories
1,947
(632)
Trade payables
102
(780)
Other payables
(256)
(65)
Cash generated from (used in) operations
4,567
(82)
Income tax refund (paid)
5
(85)
Interest paid
(39)
(137)
Interest received
180
267
Net cash from (used in) operating activities
4,713
(37)
Investing activities
Additions to property, plant and equipment
(1,593)
(399)
Proceeds from maturity of held-to-maturity investments
2,022
3,648
Proceeds from disposal of property, plant and equipment
20
–
Placement of fixed deposits
(12,420)
–
Net cash (used in) from investing activities
(11,971)
3,249
Financing activities
Dividends paid
(1,027)
–
Repayment of finance lease obligations
(43)
(46)
Repayment of bank loan
(612)
(612)
Net cash used in financing activities
(1,682)
(658)
Net (decrease) increase in cash and cash equivalents
(8,940)
2,554
Cash and cash equivalents at beginning of the financial year
21,448
18,736
Effects of exchange rate changes on the balance of cash held in
foreign currencies
(92)
158
Cash and cash equivalents at end of the financial year (Note 8)
12,416
21,448
See accompanying notes to financial statements.
