Page 58 - cosmosteel

ACHIEVING THE RIGHT BALANCE COSMOSTEEL ANNUAL REPORT 2013 56
Group
2013 2012
$’000 $’000
Cash Flows From Operating Activities
Profit Before Tax 7,261 13,427
Adjustments for:
Interest Income (25) (22)
Interest Expense 1,356 1,395
Depreciation of Property, Plant and Equipment 2,193 2,080
Gains on Disposal of Property, Plant and Equipment (11) (117)
Net Effect of Exchange Rate Changes in Consolidating Foreign Operations 77 6
Fair Value Gains on Financial Assets at Fair Value through Profit or Loss (59) (160)
Fair Value (Gains)/Losses on Derivative Financial Instruments (141) 64
Operating Cash Flows before Changes in Working Capital 10,651 16,673
Inventories (9,770) (23,438)
Trade and Other Receivables (3,878) 3,231
Other Assets (64) 172
Bills Payable 3,506 10,257
Trade and Other Payables 6,871 1,973
Other Liabilities (1,787) 2,142
Net Cash Flows from Operations Before Tax 5,529 11,010
Income Taxes Paid (2,331) (1,530)
Net Cash Flows From Operating Activities 3,198 9,480
Cash Flows From Investing Activities
Purchase of Property, Plant and Equipment (215) (389)
Disposal of Property, Plant and Equipment 11 194
Interest Received 25 22
Investment in Financial Assets – (1,273)
Net Cash Flows Used in Investing Activities (179) (1,446)
Cash Flows From Financing Activities
Dividends Paid to Equity Owners (3,300) (2,640)
Cash Restricted in Use Over 3 Months 451 780
Decrease in Other Financial Liabilities (4,396) (6,736)
Increase from New Borrowings 6,500 4,493
Decrease in Finance Leases (99) (164)
Interest Paid (1,356) (1,395)
Net Cash Flows Used in Financing Activities (2,200) (5,662)
Net Increase in Cash and Cash Equivalents 819 2,372
Cash and Cash Equivalents, Statement of Cash Flows,
Beginning Balance 19,570 17,198
Cash and Cash Equivalents, Statement of Cash Flows,
Ending Balance (Note 20A) 20,389 19,570
The accompanying notes form an integral part of these financial statements.
consol idated statement
of cash f lows
Year Ended 30 September 2013