Note
2015
2014
$’000
$’000
Cash flows from operating activities
Loss before income tax
(5,636)
(16,934)
Adjustments for:
Bad debts (recovered)/written off, net
5, 7
(37)
236
Other receivables written off
7
–
368
Depreciation of property, plant and equipment
10
2,420
2,466
Amortisation of intangible assets
11
31
40
Recognition of deferred income
5
(1,429)
(1,429)
Gain on disposal of property, plant and equipment
5
(95)
(135)
Loss on disposal of intangible assets
7
–
69
Write off of property, plant and equipment
7
46
76
Impairment of property, plant and equipment
7
538
1,659
Write off of inventories
7
34
638
Impairment of inventories, net
5, 7
2,139
9,783
Allowance for impairment of receivables, net
5, 7
195
2,669
Fair value loss on derivatives
7
59
45
Fair value gain on investment held for trading
5
(234)
(57)
Finance cost
6
239
851
Interest income
5
(74)
(45)
Share of associates results
(3,036)
(4,606)
Unrealised foreign exchange loss, net
274
232
Operating cashflows before changes in working capital
(4,566)
(4,074)
Working capital changes:
Inventories
19,391
57,171
Trade and other receivables
3,527
12,556
Trade and other payables
(16,569)
428
Cash generated from operations
1,783
66,081
Interest received
74
45
Interest paid
(239)
(851)
Income tax refund
55
–
Net cash flows generated from operating activities
1,673
65,275
Cash flows from investing activities
Dividend income received from investment in associates
2,739
3,643
Proceeds from disposal of investment held for trading
344
–
Purchase of property, plant and equipment
A
(724)
(986)
Proceeds from disposal of property, plant and equipment
B
175
4,789
Purchase of intangible assets
(50)
(10)
Proceeds from disposal of intangible assets
5
161
Net cash flows generated from investing activities
2,489
7,597
51
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
CONSOLIDATED
CASHFLOWSTATEMENT
For the financial year ended 31 December 2015
