Cash Flow Statement
| Consolidated Cash Flow Statement | ||
| Year ended 31st December 2011 | ||
| In thousands of USD | 2011 | 2010 |
|---|---|---|
| Cash flows from operating activities | ||
| Profit before taxation | 14,447 | 44,456 |
| Adjustments for: | ||
| Depreciation | 14,447 | 8,023 |
| Net finance income | (180) | (1,333) |
| Loss on sale of property, plant and equipment | (237) | 80 |
| Share of (profit)/loss from joint ventures | (10,943) | (1,813) |
| Impairment of goodwill | - | 624 |
| Current service cost | 446 | 495 |
| Share based payment expense | 1,567 | 817 |
| (Increase)/decrease in trade and other receivables | (36,568) | (83,111) |
| Decrease/(increase) in inventories | (55, 549) | 14,007 |
| Increase/(decrease) in trade and other payables | 98,913 | 85,477 |
| Cash generated from operations | 79,374 | 67,722 |
| Interest paid | (951) | (182) |
| Income taxes paid | (10,334) | (11,407) |
| Net cash from operating activities | 68,089 | 56,133 |
| Cash flows from investing activities | ||
| (Investment in)/return from joint venture | 10,288 | (1,825) |
| Disposal of subsidiary (net of cash) | 6,363 | - |
| Purchase of property, plant and equipment | (35,020) | (24,258) |
| Proceeds from sale of equipment | 306 | 12 |
| Interst received | 1,509 | 2,005 |
| Pension contribution | (6,282) | (1,955) |
| Net cash used in investing activities | (22,836) | (26,021) |
| Cash flows from financing activities | ||
| Proceeds from finance lease liabilities | - | 11,980 |
| Payments of finance lease liabitlities | (4,988) | (2,856) |
| Payment of long- term borrowings | 79 | 31 |
| Payments of short-term borrowings | (45) | - |
| Proceeds from short term borrowings | 54 | 130 |
| Payments of short-term borrowing | (1,427) | - |
| Treasury shares purchased | (706) | - |
| Dividends paid to equity holders of the Company | (14,002) | (8,252) |
| Net cash (used in)/generated from financing activities | (21,035) | 1,033 |
| Net increase in cash equivalents during the year | 10,574 | 46,286 |
| Cash and cash equivelents at beginning of year | 226,096 | 179,798 |
| Exchange difference | 1,037 | 12 |
| Cash and cash equivalents at end of the year | 237,707 | 226,096 |