CMB_1991 — Page 16

Consolidated Statement of Changes in Financial Position for the Year Ended 30th June, 1991

(Expressed in Hong Kong dollars)

1991

1990

$000's

$000's

SOURCE OF FUNDS

Profit before taxation and extraordinary item

72,889

35,564

Extraordinary item

5,097

77,986

35,564

Adjustment for items not involving the movement of funds:-

Depreciation

28,840

28,535

(Gain)/loss on disposal of fixed assets

(4,815)

266

Provision for insurance and major repairs to motor buses

21,487

32,029

Provision for employees' retirement gratuities

29,255

68,700

Provision against listed investments written back

(7)

74,767

129,523

152,753

165,087

Total generated from operations

Funds from other sources:-

Proceeds on disposal of fixed assets

5,906

250

Unclaimed dividends forfeited

96

92

Decrease in buses under construction and in transit

15,065

1,419

21,067

1,761

173,820

166,848

APPLICATION OF FUNDS

Dividends paid

35,627 35,627

Tax paid

13,705

12,559

Additions to fixed assets

66,278

50,561

Payments in respect of insurance and major repairs to motor buses

10,987

16,729

Employees' retirement gratuities

15,611

917

142,208

116,393

31,612

50,455

INCREASE/(DECREASE) IN WORKING CAPITAL

Stores and spare parts

Debtors, deposits and prepayments

Creditors and accruals

Movements in net liquid funds:-

Snort term deposits with banks Cash at banks and in hand

13

1,805

3,663

2,218

2,685

(11,019)

(3,370)

36,241

53,354

2,367

(5,877)

31,612

50,455