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Food Empire Holdings Limited Annual Report 2013
70
2013
2012
US$’000
US$’000
Cash flows from operating activities
Profit from operations before taxation
12,691
21,517
Adjustments for:
Bad debts written off
52
–
Depreciation of property, plant and equipment
3,297
2,805
Depreciation of investment properties
48
41
Negative goodwill arising from acquisitions of subsidiaries
–
(414)
Gain on disposal of property, plant and equipment
(10)
(19)
Write back of impairment loss of property, plant and equipment
(25)
(134)
Write back of impairment loss of investment property
(431)
–
Interest income
(122)
(355)
Interest expenses
235
341
Allowance for doubtful receivables
31
349
Inventories written down
315
38
Share of profit of associates
(529)
(1,290)
Value of employee services received for issue of share options
509
331
Exchange realignment
(958)
(261)
Operating profit before working capital changes
15,103
22,949
(Increase)/decrease in trade and other receivables
(870)
6,413
Increase in inventories
(16,131)
(2,203)
Decrease in trade and other payables
(593)
(242)
Cash flows (used in)/generated from operations
(2,491)
26,917
Income taxes paid
(1,949)
(2,473)
Net cash flows (used in)/generated from operating activities
(4,440)
24,444
Cash flows from investing activities
Interest income received
122
355
Purchase of property, plant and equipment
(28,561)
(5,839)
Purchase of investment property
(1,715)
–
Proceeds from disposal of property, plant and equipment
168
197
Dividend income from an associate
325
31
Capital injection in an associate
(1)
(2,000)
Net cash inflow of acquisition of subsidiaries
–
29
Net cash flows used in investing activities
(29,662)
(7,227)
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Consolidated Cash Flow Statement
For the year ended 31 December 2013