Page 60-61 - ar2014

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A M A R Q U E A B O V E T H E R E S T
58
E U R O S P O R T S G L O B A L L I M I T E D
59
2 0 1 4 A N N U A L R E P O R T
Group
2014
2013
$’000
$’000
Cash Flows From Operating Activities
Profit Before Tax
17,218
8,345
Adjustments for:
Deferred Income
(1,929)
(448)
Depreciation of Property, Plant and Equipment
1,834
1,808
Gain on Disposal of Property, Plant and Equipment
(16,307)
(82)
Listing Expenses
1,317
713
Interest Income
(15)
(70)
Interest Expense
540
466
Plant and Equipment Written off
–
194
Operating Cash Flows Before Changes in Working Capital
2,658
10,926
Inventories
872
(3,421)
Trade and Other Receivables
4,983
8,696
Finance Lease Receivables
–
57
Other Assets
(2,427)
(2,311)
Other Liabilities
115
(4,069)
Trade and Other Payables
(2,990)
(1,318)
Net Cash Flows From Operations
3,211
8,560
Income Tax Paid
(1,724)
(1,662)
Net Cash Flows From Operating Activities
1,487
6,898
Cash Flows From Investing Activities
Purchase of Property, Plant and Equipment (Note 17)
(3,021)
(16,834)
Disposal of Property, Plant and Equipment
40,920
551
Interest Received
15
70
Net Cash Flows From (Used In) Investing Activities
37,914
(16,213)
Cash Flows From Financing Activities
(Decrease) Increase in Other Financial Liabilities
(15,085)
5,311
Increase from New Borrowings
–
14,160
Finance Lease Repayments
(2,863)
(2,855)
Issue of New Shares pursuant to Listing [Note 18(c)]
11,200
–
Listing Expenses
(2,001)
(713)
Dividends Paid to Equity Owners (Note 11)
–
(2,500)
Interest Paid
(540)
(466)
Cash Restricted in Use Over 3 months
–
(360)
Net Cash Flows (Used in) From Financing Activities
(9,289)
12,577
Net Increase in Cash and Cash Equivalents
30,112
3,262
Cash and Cash Equivalents, Statement of Cash Flows, Beginning Balance
3,682
420
Cash and Cash Equivalents, Statement of Cash Flows,
Ending Balance
(Note 17A)
33,794
3,682
CONSOL IDATED STATEMENT
OF CASH FLOWS
The accompanying notes form an integral part of these financial statements.
Group
Total
Share Merger Retained
Equity
Capital
Reserves Earnings
$’000
$’000
$’000 $’000
Current Year:
Opening Balance at 1 April 2013
8,857
3,500
–
5,357
Movements in Equity:
Total Comprehensive Income for the Year
17,020
–
– 17,020
Issue of New Share (Adjustment) pursuant to
Restructuring Exercise
(1)
–
4,453
(4,453)
–
Issue of New Shares pursuant to Listing [Note 18(c)]
11,200
11,200
–
–
Share Issuance Expense [Note 18(d)]
(684)
(684)
–
–
Closing Balance at 31 March 2014
36,393
18,469
(4,453)
22,377
Previous Year:
Opening Balance at 1 April 2012
4,638
3,500
–
1,138
Movements in Equity:
Total Comprehensive Income for the Year
6,719
–
–
6,719
Dividends Paid (Note 11)
(2,500)
–
–
(2,500)
Closing Balance at 31 March 2013
8,857
3,500
–
5,357
Note:
(1) Arose from the pooling-of-interests method used to account for the acquisition of subsidiaries.
Company
Total
Share Accumulated
Equity
Capital
Losses
$’000
$’000
$’000
Current Year:
Opening Balance at Date of Incorporation 12 December 2012
–
–
(1)
–
Movements in Equity:
Total Comprehensive Loss for the Year
(1,733)
–
(1,733)
Issue of New Shares pursuant to Restructuring Exercise
[Note 18(b)]
7,953
7,953
–
Issue of New Shares pursuant to Listing [Note 18(c)]
11,200
11,200
–
Share Issuance Expense [Note 18(d)]
(684)
(684)
–
Closing Balance at 31 March 2014
16,736
18,469
(1,733)
Note:
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STATEMENTS OF
CHANGES IN EQU I TY
The accompanying notes form an integral part of these financial statements.
Year ended 31 March 2014
Year ended 31 March 2014