Vtech 2002 Annual Report Download - page 37

Download and view the complete annual report

Please find page 37 of the 2002 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 71

  • 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

Annual Report 2002 35
Consolidated Cash Flow Statement
For the year ended 31st March 2002
Restated
2002 2001
Note US$ million US$ million
Operating activities
Operating profit/(loss) 23.0 (200.1)
Depreciation charges 33.8 44.5
Amortization of leasehold land payments 20.1 0.1
Amortization of goodwill 2—0.3
Impairment of intangible assets 3—25.2
Impairment of tangible assets and assets held for sale 33.6 17.2
Impairment of investment properties 20.5 —
Recognition of negative goodwill 2—(31.9)
Loss on disposal of tangible assets 22.0 1.2
Write-down of discontinued stocks 31.7 17.1
Decrease in stocks 91.4 52.2
Decrease/(Increase) in debtors and prepayments 90.8 (8.1)
(Decrease)/Increase in creditors and accruals (63.4) 31.6
(Decrease)/Increase in provisions (27.2) 28.4
Cash generated from/(absorbed by) operations 156.3 (22.3)
Interest received 3.0 3.2
Interest paid (11.6) (15.7)
Taxes paid (0.9) (4.5)
Net cash flow generated from/(used in) operating activities 146.8(39.3)
Investing activities
Purchase of tangible assets (13.3) (30.7)
Proceeds on disposal of tangible assets 9.1 7.1
Proceeds on disposal of assets held for sale 18.9 —
Purchase of associates (0.4) (0.8)
Purchase of subsidiaries and businesses (0.1) (9.6)
Net cash generated from/(used in) investing activities 14.2 (34.0)
Financing activities
Issue of share capital 0.1 —
Repayments of long term borrowings (41.3) (4.0)
Proceeds from long term borrowings —10.8
Net (repayment of)/proceeds from short term borrowings (109.9) 66.2
Dividends paid —(10.8)
Net cash (used in)/generated from financing activities (151.1) 62.2
Effect of exchange rate changes (0.2) (3.0)
Increase/(Decrease) in cash and cash equivalents 9.7 (14.1)
Cash and cash equivalents at beginning of the year 53.4 67.5
Cash and cash equivalents at end of the year 63.1 53.4
Analysis of the balance of cash and cash equivalents
Cash at bank and deposits 63.3 56.2
Bank overdrafts (0.2) (2.8)
63.1 53.4
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.