STATEMENT OF CHANGES IN GROUP'S
FINANCIAL POSITION
FOR THE YEAR ENDED 31 DECEMBER 1989
SOURCE OF FUNDS
Profit before taxation
Adjustment for items not involving.
1989
HK$'000
85,016
1988
HK$'000
103,629
the movement of funds:-
Depreciation
38,398
35,805
(Profit)/ Loss on disposal of fixed assets
(145)
352
Provision for staff retirement benefits
50,165
12,289
Assets under construction written off
35
81
Total generated from operations
88,453 173,469
48,527
152,156
Funds from other sources:-
Proceeds from disposal of fixed assets Shares issued
462
318
115,931
462
173,931
116,249
268,405
APPLICATION OF FUNDS
Dividends paid
45,747
37,596
Tax paid
12,760
12,660
Additions to fixed assets and
assets under construction
34,390
57,573
Increase in other investments
357
4,525
Payments to staff retirement funds
17,498
15,192
Repayment of bank and other loans
49,627
42,544
160,379
170,090
13,552
98,315
INCREASE/(DECREASE) IN WORKING CAPITAL
Stocks and work in progress
(4,937)
10,750
Debtors
7,368
547
Creditors
(7,311)
(14,688)
Movements in net liquid funds:-
Short term deposit
4,000
128,000
Cash and bank balances
5,742
(18,911)
Bank overdrafts and loans
8,690
(7,383)
18,432
101,706
13,552
98,315
The notes on pages 15 to 25 form part of these accounts.
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