1988 — Page 16

STATEMENT OF CHANGES IN GROUP'S FINANCIAL POSITION

FOR THE YEAR ENDED 31 DECEMBER 1988

SOURCE OF FUNDS

Profit before taxation

Adjustment for items not involving

the movement of funds:-

1988

HK$'000

103,629

Depreciation

35,805

33,989

(Profit)/Loss on disposal of

fixed assets

352

(286)

Provision for staff retirement

benefits

12,289

12,163

written off

Assets under construction

Provision for diminution in value of

unlisted investment

81

Total generated from operations

Funds from other sources:-

Bank and other loans

Proceeds from disposal of

fixed assets

Shares issued

318

115,931

1987

HK$'000

89,086

100

48,527

45,966

152,156

135,052

37,377

1,201

116,249

268,405

38,578

173,630

APPLICATION OF FUNDS

Dividends paid

37,596

29,943

Tax paid

12,660

2,172

Additions to fixed assets and assets

under construction

57,573

28,185

Advance to associate

5

(3)

Increase in other investments

4,520

12,110

Payments to staff retirement funds

15,192

14,357

Repayment of bank and other loans

42,544

90,060

170,090

176,824

98,315

(3,194)

**

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