81
PETRA FOODS LIMITED
ANNUAL REPORT 2015
Note
2015
2014
US$’000
US$’000
Cash flows from operating activities
Total (loss)/profit
(4,740)
48,731
Adjustments:
Income tax expense
8(a)
12,126
21,340
Depreciation and amortisation
7,584
7,809
Property, plant and equipment written off
124
–
Impairment loss on brands
265
–
Gain on disposal of property, plant and equipment
(1,470)
(95)
Exceptional items
10
20,066
–
Interest income
(2,053)
(1,650)
Interest expense
4,219
3,121
Fair value loss/(gain) on derivatives
64
(27)
Share of profits from associated companies
(64)
(501)
Operating cash flow before working capital changes
36,121
78,728
Change in working capital
Inventories
13,158
(7,244)
Trade and other receivables
27,893
8,081
Trade and other payables
(16,246)
(34,779)
Cash generated from operations
60,926
44,786
Interest received
2,053
1,650
Income tax paid
(19,731)
(24,193)
Net cash provided by operating activities
43,248
22,243
Cash flows from investing activities
Purchases of property, plant and equipment
(23,479)
(29,016)
Payments for patents and trademarks
(341)
(342)
Payment for final settlement of dispute
3(i)
(38,800)
–
Proceeds from disposal of property, plant and equipment
1,530
365
Net cash used in investing activities
(61,090)
(28,993)
Cash flows from financing activities
Proceeds from bank borrowings
22,836
22,071
(Repayment of)/proceeds from trade finance
(4,613)
2,843
Repayment of bank borrowings
(7,113)
(859)
Repayment of lease liabilities
(5,200)
(4,402)
Interest paid
(4,232)
(3,135)
Dividends paid to equity holders of the Company
(34,202)
(38,387)
Net cash used in financing activities
(32,524)
(21,869)
Net decrease in cash and cash equivalents
(50,366)
(28,619)
Cash and cash equivalents
Beginning of financial year
149,212
177,781
Effects of currency translation on cash and cash equivalents
1,704
50
End of financial year
12
100,550
149,212
The accompanying notes form an integral part of these financial statements.
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015
CONSOL I DAT ED S TAT EMENT OF CAS H F LOWS
