Page 72 - Neal and Massy Holdings Annual Report 2012

70 2012
2012 2011
$ $
Cash flows from operating activities:
Operating profit before income tax 747,674 599,072
Operating loss from discontinued operations before tax 35 (49,875) (53,422)
Adjustments for:
Dividends received from associated companies 10 7,876 24,256
Depreciation and impairment of property,
plant and equipment, investment property
and held for sale assets 5 222,379 237,092
Impairment of goodwill 8 12,135 11,037
Amortisation of other intangible assets 2,581 69
Gain on sale of property, plant and equipment
and investment property (41,453) (33,018)
Increase in provision for instalment credit and other loans 15 1,874 3,374
Decrease in market value of investments 12,998 2,243
Employee share option scheme provision 20 – 85
Employee retirement and other benefits (1,590) 5,460
Earnings before interest, tax, depreciation and amortisation 914,599 796,248
Other movements – 10,445
Changes in working capital:
Decrease/(increase) in inventories 43,753 (224,540)
Increase in trade and other receivables (685) (44,004)
(Increase)/decrease in instalment credit and other loans (1,268) 27,922
(Decrease)/increase in trade and other payables (77,263) 196,615
Decrease in customers’ deposits 24 (9,324) (70,689)
Cash generated from operations 869,812 691,997
Taxation paid (171,706) (170,459)
Net cash provided by operating activities 698,106 521,538
Notes
Consolidated STATEMENT oF CASH FLOWs
For the year ended September 30, 2012
Expressed in Thousands of Trinidad and Tobago dollars