CMB_1985 — Page 15

Consolidated Statement of Changes in Financial Position For The Year Ended 30th June, 1985

(Expressed in Hong Kong dollars)

SOURCE OF FUNDS

Profit before taxation

Adjustment for items not involving

the movement of funds:-

1985

1984

$000's

$000's

89.827

62.715

Depreciation

32,276

32.030

Loss on disposal of fixed assets

297

251

Provision for insurance and major

repairs to motor buses

15.643

15.237

Provision for employees'

retirement gratuities

5,575

4.889

Exchange fluctuation reserve

(536)

1.302

53,255

Total generated from operations

143,082

53.709

116.424

Funds from other sources:-

Proceeds from disposal of fixed assets Unclaimed dividends forfeited

67

35

الالالالالالالا

33

23

Transfer of fixed assets to current assets

3.781

3.883

146,965

56

116.480

APPLICATION OF FUNDS

Dividends paid

33,775

31.000

Tax paid

7,178

13.024

Additions to land

318

Additions to other fixed assets

19.031

27,561

Decrease in buses under construction,

on order and in transit

(557)

(8.385)

Payments in respect of insurance

and major repairs to motor buses

8,643

6.237

Employees' retirement gratuities paid

391

338

Land premium paid.

1.663

Deferred bills paid

16.466

19.371

84,927

91.127

62,038

25.353

INCREASE/(DECREASE) IN WORKING CAPITAL

Stores and spare parts

Debtors, deposits and prepayments

Creditors and accruals

Employees' deposits

Bills payable

Movements in net liquid funds:—

Short term deposits

Cash at banks and in hand

13

12,042

(909)

3.589

272

(815)

(6,893)

9

15

8,148

1.172

48.876

22.448

(5,313)

4,750

62,038

25.353

Page 15Page 16