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Chapter 7 Financial Results

Financial Statements

Statement of Cash Flows

for the year ended 31 March 2018
(Expressed in thousands of Hong Kong dollars)

Description

Note

2018

2017

Cash flows from operating activities

 

 

 

Profit from operations

 

11,842 38,139

Sundry income

 

206 2,941

Loss on disposal of property, plant and equipment

 

20 2

Depreciation of property, plant and equipment

 

12,382 13,272

Amortisation of intangible assets

 

995 1,217

Decrease / (Increase) in debtors, deposits and advance payments

 

15,426

(16,163)

(Decrease) / Increase in creditors and accruals

 

(22,320)

13,982

Increase in amounts due to related parties

 

2,006

555

Increase in deferred income

 

31,210

10,841

(Decrease) / Increase in provision for employee benefits

 

(1,796)

712

Notional profits tax paid

 

(2,197)

(13,881)

Net cash from operating activities

 

47,774

51,617

Cash flows from investing activities

 

 

 

Decrease / (Increase) in placement with the Exchange Fund

 

416,286

(28,885)

(Increase) / Decrease in bank deposits with original maturities over three months

 

(497,100)

20,000

Acquisition of property, plant and equipment and intangible assets

 

(1,393)

(5,758)

(Expenses for) / Net proceeds from disposal of property, plant and equipment

 

(3)

18

Interest received

 

24,877

31,630

Net cash (used in) / from investing activities

 

(57,333)

17,005

Cash flows from financing activity

 

 

 

Dividend paid

 

-

(63,764)

Net cash used in financing activity

 

-

(63,764)

Net (decrease) / increase in cash and cash equivalents

 

(9,559)

4,858

Cash and cash equivalents at beginning of year

 

21,277

16,419

Cash and cash equivalents at end of year

19

11,718

21,277

The notes form part of these financial statements.