1985 — Page 11

Statement of Changes in Group's Financial Position

for the year ended 31st December 1985

(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

1985

42,325

1984

42,841

27,878

24,892

(2,963)

965

Provision for staff retirement benefits

5,808

9,198

Provision for diminution in value of:

Interest in an associate

6,874

Other unlisted investment

1,179

482

Provision for diminution in value of

interest in an associate written back

(2,334)

Share of losses of associates

13,246

1,584

42,814

43,995

Total generated from operations

85,139

86,836

Funds from other sources:-

Bank and other loans

61,685

20,403

Proceeds from disposal of fixed assets

11,092

2,168

Tax refunded

10

72,787

22,571

157,926

109,407

Application of Funds

Dividends paid

22,181

20,794

Tax paid

3,349

960

Additions to fixed assets (including

assets under construction)

60,188

49,534

Advances to associates

10,505

11,711

Payments to staff retirement funds

6,172

4,115

Repayment of bank and other loans

55,473

42,540

157,868

129,654

58

(20,247)

Other items not involving the Movement of Funds

Machinery transferred from stock to

fixed assets

Increase/(Decrease) in Working Capital

Stocks and work in progress

Debtors and prepayments

(205)

(249)

(147)

(20,496)

(2,562)

(5,427)

8,358

10,354

Creditors and accrued charges

(7,906)

(4,249)

Movements in net liquid funds:

Cash and bank balances Bank overdraft and loans

1,111

(5,165)

852

(16,009)

1,963

(21,174)

(147)

(20,496)

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

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