1983 — Page 11

Statement of Changes in Group's Financial Position

for the year ended 31st December, 1983

(Expressed in HK$'000)

Source of Funds

Profit before taxation

Adjustment for items not involving

the movement of funds: -

Depreciation

(Profit)/Loss on disposal of fixed assets.

Exchange adjustments

1983

1982

33,165

34,902

20,199

20,549

921

(369)

(246)

Provision for staff retirement benefits

194

5,687

Provision for diminution in value of:

Interest in an associated company-- Other unquoted investment

890

432

1,322

Total generated from operations

55,555

60,769

Funds from other sources: —

Bank and other loans

38,750

147,151

Proceeds from disposal of fixed assets

16,615

1,203

Tax refunded

1,145

34

Proceeds from rights issue

56,510

103,971

252,359

112,065

313,128

Application of Funds

Dividends paid

20,794

18,483

Tax paid

334

1,924

Additions to fixed assets (including

assets under construction)

73,277

173,386

Increase in investments in an

associated company

6,583

750

Advances to associated companies

16,644

2,427

Payments to staff retirement funds

2,650

4,041

Repayment of bank and other loans

25,729

79,444

Increase in other investments

73

Expenses in connection with

share issues

146,011

43

280,571

(33,946)

32,557

Other Items not Involving the Movement of Funds

Machinery transferred to stocks from

fixed assets

1,295

3,504

(32,651)

36,061

Increase/(Decrease) in Working Capital

Stocks and work in progress

Goods in transit

Debtors and prepayments

Creditors and accrued charges

Movements in net liquid funds:

Cash and bank balances

(1,146)

20,698

(2,749)

2,764

(2,082)

3,282

20,261

(17,242)

(46,935)

26,559

(32,651)

36,061

The notes on pages 11 to 20 form part of these accounts.

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