Baker Technology Limited
-
83
-
2016
2015
$’000
$’000
Cash flows from operating activities
(Loss) / profit before tax
(9,222)
11,124
Adjustments for:
Depreciation of property, plant and equipment
1,911
1,811
Inventorieswritten down
1,391
625
Allowance for doubtful debt
63
35
Interest income
(668)
(1,092)
Write back forwarranty
(645)
(2,452)
Unrealised foreign exchange gain
(1,131)
(4,001)
Gain on disposal of property, plant and equipment
(1)
–
Impairment of goodwill
7,551
–
Operating cash flows beforeworking capital changes
(751)
6,050
Increase in inventories andwork-in-progress
(34,840)
(37,860)
Decrease in gross amount due from customers for contractwork-in-progress
5,667
13,004
Decrease in gross amount due to customers for contractwork-in-progress
(1,459)
(1,049)
Decrease / (increase) in trade and other receivables
5,628
(3,733)
Increase in prepaid operating expenses
(39)
(38)
(Decrease) / increase in trade and other payables
(4,932)
2,875
Cash flows used in operations
(30,726)
(20,751)
Interest received
699
975
Income tax paid
(196)
(2,713)
Net cash flows used in operating activities
(30,223)
(22,489)
Cash flows from investing activities
Purchase of property, plant and equipment
(1,998)
(11,554)
Proceed from disposal of property, plant and equipment
1
–
Purchase of intangible asset
(105)
(227)
Maturity of investment securities
3,713
–
Purchase of investment securities
(315)
(1,183)
Net cash flows from / (used in) investing activities
1,296
(12,964)
Cash flows from financing activities
Net proceeds from conversion ofwarrants
–
13,241
Dividends paid on ordinary shares
(5,072)
(10,075)
Net cash flows (used in) / from financing activities
(5,072)
3,166
Net decrease in cash and cash equivalents
(33,999)
(32,287)
Effect of exchange rate changes on cash and cash equivalents
885
3,672
Cash and cash equivalents at beginning of financial year
140,070
168,685
Cash and cash equivalents at end of financial year (Note 19)
106,956
140,070
Consolidated
cash flow statement
For the financial year ended 31 December 2016
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
