Statement of Changes in Group's Financial Position
for the year ended 31st December, 1982
Source of Funds
Profit before taxation
1982
1981
$'000
$'000
34,902
39,996
Adjustment for items not involving
the movement of funds:
Depreciation
20,549
16,984
(Profit)/Loss on disposal of fixed assets
(369)
545
Provision for staff retirement benefits
5.687
5,244
Total generated from operations
60,769
62,769
Funds from other sources:
Bank and other loans
147,151
47,631
Proceeds from disposal of fixed assets
1,203
321
Tax refunded
34
1,055
Proceeds from rights issue
103,971
103,971
252,359
152,978
313,128
215,747
Application of funds
Dividends paid
18,483
17,791
Tax paid
1,924
1,783
Additions to fixed assets
(including assets under construction)
171,882
124,410
Advances to an associated company
905
1,108
Payments to staff retirement funds
4,041
4,064
Repayment of bank and other loans
79,444
19,884
Increase in other investments
2,323
3,247
Expenses in connection with share issues
43
5,869
279,045
178,156
34,083
37,591
Other Items not Involving the
Movement of Funds
Machinery transferred to stock from
fixed assets
3,504
37,587
37,591
Increase/(Decrease) in Working Capital
Stocks and work in progress
20,698
20,573
Goods in transit
2,764
33
Debtors and prepayments
4,808
(6.726)
Creditors and accrued charges
(17,242)
(15,330)
Movements in net liquid funds:
Cash balances
26,559
26,211
Bank overdrafts
12,830
26.559
39,041
37,587
37.591
The notes on pages 11 to 20 form part of these accounts.
10
11