Vtech 2001 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 2001 Vtech annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

2001 2000
Note US$ million US$ million
Operating activities
Operating (loss)/profit (200.1) 46.4
Depreciation charges 44.6 35.0
Amortization of goodwill 2 0.3 0.3
Impairmentofintangibleassets 3 25.2 Ð
Impairmentoffixedassets 3 17.2 Ð
Recognition of negative goodwill 10 (31.9) Ð
Loss on disposal of tangible assets 1.2 0.7
Write down of discontinued stocks 3 17.1 Ð
Decrease/(increase) in stocks 52.2 (72.5)
Increase in debtors and prepayments (8.1) (39.6)
Increase in creditors and provisions 60.0 41.5
Cash (absorbed by)/generated from operations (22.3) 11.8
Interest received 3.2 3.3
Interest paid (15.7) (2.0)
Taxes paid (4.5) (2.8)
Net cash flow (used in)/generated from operating activities (39.3) 10.3
Investing activities
Purchase of tangible assets (30.7) (29.9)
Proceeds on disposal of tangible assets 7.1 0.3
Purchase of other investments Ð (1.3)
Purchase of associates (0.8) (0.7)
Purchase of subsidiaries and businesses 22 (9.6) (123.6)
Net cash used in investing activities (34.0) (155.2)
Financing activities
Issue of share capital Ð0.1
Proceeds from borrowings 77.3 160.0
Repayments of borrowings (4.3) (7.3)
Payment of finance lease liabilities Ð (0.1)
Dividends paid (10.8) (30.4)
Net cash generated from financing activities 62.2 122.3
Effect of exchange rate changes (3.0) (0.4)
Decrease in cash and cash equivalents (14.1) (23.0)
Cash and cash equivalents at beginning of the year 67.5 90.5
Cash and cash equivalents at end of the year 53.4 67.5
Analysis of the balance of cash and cash equivalents
Cash at bank and deposits 56.2 79.6
Bank overdrafts (2.8) (12.1)
53.4 67.5
The principal accounting policies on pages 36 to 40 and the notes on pages 41 to 65 form an integral part of these
consolidated financial statements.
34
Consolidated Cash Flow Statement
For the year ended 31st March 2001