36
SUNMOON FOOD COMPANY LIMITED
ANNUAL REPORT 2015
CONSOLIDATED STATEMENT OF
CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015
Note
2015
2014
$’000
$’000
Operating activities
Loss from continuing operations before tax
(4,154)
(2,834)
Profit from discontinued operation before tax
2,945
1,351
Loss before tax, total
(1,209)
(1,483)
Adjustments for:
Interest expense
164
86
Interest income
(2)
(2)
Dividend income
–
(65)
Write back of allowance for inventory obsolescence
(270)
(16)
Depreciation of property, plant and equipment
788
927
Write back of long overdue third parties payables
(40)
(50)
Available-for-sale financial asset written off
–
17
Fair value (gain)/loss arising from held-for-trading financial asset
(9)
85
Inventories written off
10
8
Other receivables written off
2
10
Allowance for impairment loss on third parties trade receivables
521
769
Allowance for inventory obsolescence
–
254
Operating cash flows before working capital changes
(45)
540
Working capital changes:
Inventories
13,152
(2,230)
Trade and other receivables
(2,962)
(3,597)
Trade and other payables
(4,252)
4,777
Cash generated from/(used in) operations
5,893
(510)
Income tax paid
(892)
(635)
Net cash from/(used in) operating activities
5,001
(1,145)
Investing activities
Interest received
2
2
Dividend received
–
65
Purchase of property, plant and equipment
(418)
(187)
Proceeds from disposal/(purchase) of held-for-trading financial asset
199
(330)
Net cash used in investing activities
(217)
(450)
Financing activities
Interest paid
(164)
(86)
Proceed from bank borrowings
871
3,648
Repayment of bank borrowings
(2,897)
(2,035)
Repayment of loan from a director
(529)
–
Net cash (used in)/from financing activities
(2,719)
1,527
Net change in cash and cash equivalents
2,065
(68)
Cash and cash equivalents at beginning of financial year
2,703
2,387
Exchange difference on cash and cash equivalents
522
384
Cash and cash equivalents at end of financial year
14
5,290
2,703
The accompanying notes form an integral part of these financial statements.
