CONSOLIDATED STATEMENT OF CASH FLOWS
For the financial year ended 30 June 2016
ASL Marine Holdings Ltd.
Annual Report 2016
71
2016
2015
$’000
$’000
Cash flows from operating activities
Profit before tax
520
8,611
Adjustments for:
Amortisation of intangible assets
829
852
Amortisation of lease prepayments
355
292
Allowance for impairment of doubtful receivables (net)
3,988
573
Bad debts written off/(recovered) (net)
53
(176)
Depreciation of property, plant and equipment
56,561
44,827
Gain on disposal of property, plant and equipment
(1,466)
(6,923)
Impairment loss on property, plant and equipment
1,198
–
Impairment loss on investment in joint ventures
36
–
Impairment loss on inventories
2,700
–
Interest expense
19,126
18,241
Interest income
(823)
(134)
Property, plant and equipment written off
–
873
Reversal of provision for warranty, net
(200)
(153)
Provision for pension liabilities
235
52
Share of results of joint ventures and associates
3,253
(3,882)
Operating cash flows before changes in working capital
86,365
63,053
Changes in working capital:
Inventories
(23,806)
(149,459)
Construction work-in-progress and progress billings
in excess of construction work-in-progress
(85,908)
162,700
Trade and other receivables
(15,426)
59,501
Trade and other payables
43,455 (10,822)
Finance lease receivable
568
–
Other liabilities
(803)
(125)
Balances with related parties (trade)
870
2,218
Cash flows generated from operations
5,315 127,066
Interest received
780
–
Income tax paid
(226)
(2,178)
Net cash flows generated from operating activities
5,869 124,888
