Consolidated Statement of Changes in Financial Position for the Year Ended 30th June, 1992
(Expressed in Hong Kong dollars)
SOURCE OF FUNDS
1992
1991
$000's
$000's
Profit before taxation and extraordinary items
Extraordinary items.
112,030
72,889
575,047
5,097
687,077
77,986
Adjustment for items not involving the movement of funds:-
Depreciation
29,714
28,840
Gain on disposal of fixed assets
(574,544)
(4,815)
Provision for insurance and major repairs to motor buses
30,247
21,487
Provision for employees' retirement schemes
32,266
29,255
(482,317)
74,767
Total generated from operations
204,760
152,753
Funds from other sources:-
Proceeds on disposal of fixed assets
977,417
5,906
Unclaimed dividends forfeited
140
96
Decrease in buses under construction and in transit
15,065
977,557
21,067
1,182,317
173,820
APPLICATION OF FUNDS
Dividends paid
172,119
35,627
Tax paid
9,943
13,705
Additions to fixed assets
50,050
66,278
Payments in respect of insurance and major repairs to motor buses
11,047
10,987
Employees' retirement schemes
6,736
15,611
Interest in associated company
402,945
Increase in buses under construction and in transit
2,788
655,628
142,208
526,689
31,612
INCREASE/(DECREASE) IN WORKING CAPITAL
Stores and spare parts
Debtors, deposits and prepayments
Creditors and accruals
Movements in net liquid funds:-
Short term deposits with banks
Cash at banks and in hand
13
(907)
1,805
(1,514)
2,218
3,200
(11,019)
523,785
36,241
2,125
2,367
526,689
31,612