Consolidated Statement of Changes in Financial Position For The Year Ended 30th June, 1989
(Expressed in Hong Kong dollars)
SOURCE OF FUNDS
Profit before taxation
Adjustment for items not involving
the movement of funds:-
Depreciation
1989
1988
$000's
$000's
75,966
89,637
27,731
29,074
Loss on disposal of fixed assets
498
413
Provision on listed investments
1
5
Provision for insurance and major
repairs to motor buses
34,670
26,187
Provision for employees'
retirement gratuities
4,745
5,101
67,645
60,780
143,611
150,417
Total generated from operations
Funds from other sources:-
Proceeds from disposal of fixed assets
Unclaimed dividends forfeited
APPLICATION OF FUNDS
67
|
94
53
161
53
143,772
150,470
Dividends paid
Tax paid
35,627
35,164
30,120
10,206
Additions to fixed assets
35,646
23,080
Increase in buses under construction
and in transit
23,745
4,110
Payments in respect of insurance and
major repairs to motor buses
8,170
8,187
Employees' retirement gratuities
1,251
650
Deferred bills paid
677
134,559
82,074
9,213
68,396
INCREASE/(DECREASE) IN WORKING CAPITAL
Stores and spare parts
1,044
(4,981)
Debtors, deposits and prepayments
2,067
(134)
Creditors and accruals
2,922
(9,166)
Bills payable
729
4,520
Movements in net liquid funds:-
Short term deposits with banks Cash at banks and in hand
(4,650)
78,004
7,101
153
9,213
68,396
13