1991 — Page 17

STATEMENT OF CHANGES IN GROUP'S FINANCIAL POSITION

FOR THE YEAR ENDED 31 DECEMBER 1991

SOURCE OF FUNDS

Profit before taxation

Adjustment for items not involving

the movement of funds:-

Depreciation

1991

1990

HK$'000

HK$'000

152,625

41,771

40.707

Loss/(profit) on disposal of

fixed assets

372

(5.329)

Provision for diminution in value

2,288

44,431

197,056

118,986

35,378

154.364

Total generated from operations

Funds from other sources:-

Proceeds from disposal of fixed assets

12

5,820

197,068

160,184

APPLICATION OF FUNDS

Dividends paid

58,557

51,237

Tax paid

18,902

16,551

Additions to fixed assets and

assets under construction

36.734

28,663

Increase in investments

46.278

259

160.471

96,710

36,597

63.474

INCREASE/ (DECREASE) IN WORKING CAPITAL

Stocks and work in progress

11,450

629

Debtors

13,109

(3,718)

Creditors

(10,088)

43,350

Movements in net liquid funds:-

Short term deposit

27,700

31,300

Cash and bank balances

551

(1,800)

Bank overdrafts

(6.125)

(6,287)

22,126

23,213

36,597

63,474

The notes on pages 15 to 26 form part of these accounts.

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