BAKERTECHNOLOGYLIMITED
ANNUALREPORT2013
81
for the financial year ended 31December 2013
ConsolidatedCash
FlowStatement
2013
2012
$
$
Cashflows fromoperating activities
Profit before tax
26,080,025 84,799,158
Adjustments for :
Depreciation of property, plant and equipment
1,236,830 1,413,853
Loss on disposal of property, plant and equipment
51,660
326
Recognition of deferredgain on disposal of subsidiary
– (58,237,148)
Gain on disposal of investment in associates
(8,757,440) (10,894,451)
Interest income
(486,718)
(509,738)
Interest expense
7,670
121,913
Share of results of associates
495,000
(586,800)
Unrealised exchange (gain) / loss
(763,260)
767,807
Operating cashflows beforeworking capital changes
17,863,767 16,874,920
Decrease / (increase) in inventories
13,588,685 (12,804,767)
Decrease in gross amount due from customers for contract work-in-progress
11,297,488 5,716,209
Decrease in gross amount due to customers for contract work-in-progress
(1,024,120)
(5,273,296)
Decrease / (increase) in trade and other receivables
6,586,702 (7,960,695)
(Increase) / decrease in prepaid operating expenses
(518)
11,941
Decrease / (increase) in pledgeddeposits
11,067,427 (5,005,126)
Decrease in trade andother payables
(3,020,076) (12,393,061)
Cashflows from / (used in) operations
56,359,355 (20,833,875)
Interest paid
(7,670)
(121,913)
Interest received
486,718
509,738
Income tax paid
(4,497,560)
(2,622,863)
Net cashflows from / (used in) operating activities
52,340,843 (23,068,913)
