Consolidated Statement of Changes in Financial Position For The Year Ended 30th June, 1990
(Expressed in Hong Kong dollars)
SOURCE OF FUNDS
Profit before taxation
Adjustment for items not involving
the movement of funds: -
Depreciation
1990
1989
$000's
$000's
35,564
75,966
28,535
27,731
Loss on disposal of fixed assets
266
498
Provision against listed investments
(written back)/made
(7)
1
Provision for insurance and major
repairs to motor buses
32,029
34,670
Provision for employees'
retirement gratuities
68.700
4,745
129,523
67,645
Total generated from operations
165,087
143,611
Funds from other sources:-
Proceeds from disposal of fixed assets
Unclaimed dividends forfeited
250
67
92
94
342
161
165,429
143,772
APPLICATION OF FUNDS
Dividends paid
35,627
35,627
Tax paid
12,559
30,120
Additions to fixed assets
50,561
35,646
(Decrease)/increase in buses under construction
and in transit
(1,419)
23,745
Payments in respect of insurance and
major repairs to motor buses
16,729
8,170
Employees' retirement gratuities
917
1,251
114,974
134,559
50,455
9,213
INCREASE/(DECREASE) IN WORKING CAPITAL
Stores and spare parts
3,663
1,044
Debtors, deposits and prepayments
2,685
2,067
Creditors and accruals
(3,370)
2,922
Bills payable
729
Movements in net liquid funds:-
Short term deposits with banks Cash at banks and in hand
53,354
(4,650)
(5,877)
7,101
50,455
9,213
13