CMB_1986 — Page 16

Consolidated Statement of Changes in Financial Position For The Year Ended 30th June, 1986

(Expressed in Hong Kong dollars)

SOURCE OF FUNDS

Profit before taxation

Adjustment for items not involving

the movement of funds:-

Depreciation

1986

1985

$000's

$000's

30,011

89,827

31,302

32,276

Loss on disposal of fixed assets

557

297

Provision on listed investments

27

Provision for insurance and major

repairs to motor buses

10,721

15,643

Provision for employees'

retirement gratuities

Exchange fluctuation reserve

Total generated from operations

4,196

5,575

(2,649)

(536)

44,154

53,255

74,165

143,082

Funds from other sources:-

Proceeds from disposal of fixed assets

23

67

Unclaimed dividends forfeited

35

35

Transfer of fixed assets to current assets

3,781

58

3,883

74,223

146,965

APPLICATION OF FUNDS

Dividends paid

32,851

33,775

Tax paid

23,408

7,178

Additions to fixed assets

4,965

19,031

Decrease in buses under construction,

on order and in transit

(557)

Payments in respect of insurance and

major repairs to motor buses

9,721

8,643

Employees' retirement gratuities

506

391

Deferred bills paid

6,378

16,466

77,829

84,927

(3,606)

62,038

INCREASE/(DECREASE) IN WORKING CAPITAL

Stores and spare parts

29,475

12,042

Debtors, deposits and prepayments

1,327

(909)

Deposit with Hong Kong Government

1,600

Creditors and accruals

Bills payable

5,465

(806)

6,825

8,148

Movements in net liquid funds:—

Short term deposits

Cash at banks and in hand

(53,512)

48,876

5,214

(5,313)

DUPUN LEIP

(3,606)

62,038

SEASON 3OMYABYRA