Page 48 - ar2011

46 kingsmen creatives ltd
Group
Note 2011 2010
$’000 $’000
Cash fows from operating activities
Proft before tax 19,807 19,712
Adjustments for:
Depreciation of property, plant and equipment 12 3,416 3,605
Gain on disposal of property, plant and equipment (24) (22)
Property, plant and equipment written off 22 414
Bad trade debts written off 50 38
Net allowance for doubtful trade debts 136 160
Amortisation of intangible assets 13 305 331
Interest income (227) (190)
Interest expense 173 84
Share of results of associates (569) (87)
Currency realignment (47) 106
Total adjustments 3,235 4,439
Operating cash fows before changes in working capital 23,042 24,151
Changes in working capital:
Decrease/(increase) in gross amount due from customers for contract work-in-progress 2,658 (3,918)
(Decrease)/increase in gross amount due to customers for contract work-in-progress (335) 143
Increase in deferred income 1,472 268
(Increase)/decrease in trade and other receivables (21,435) 4,669
Increase/(decrease) in trade and other payables 10,079 (1,718)
Decrease/(increase) in inventories 80 (76)
Cash fows from operations 15,561 23,519
Interest paid (173) (84)
Interest received 227 190
Income taxes paid (2,762) (3,306)
Net cash fows from operating activities 12,853 20,319
Cash fows from investing activities
Purchase of property, plant and equipment 12 (2,778) (6,152)
Proceeds from disposal of property, plant and equipment 80 75
Dividends received from associates 15 101 12
Net cash fows used in investing activities (2,597) (6,065)
Consolidated Cash
FlowStatement
for the financial year ended 31 December 2011