Page 33 - NZPM Annual Report 2020

NZPM GROUP LIMITED
Consolidated Statement of Cash Flows

For the year ended 31 March 2020
2020 2019
Note
$’000 $’000

Cash flows from operating activities
Receipts from customers 248,513 233,499
Interest received 17 43
Dividends received from associates 0 238
Other income 170 3
Income tax paid (4,158) (2,394)
Payments to suppliers and employees (229,094) (221,368)
Interest paid on borrowings (340) (550)
Interest paid on lease liabilities (2,906) 0
Dividends paid to shareholders (4,597) (3,936)
Net cash generated by operating activities 11 7,605 5,535

Cash flows from investing activities
Proceeds from sale of property, plant and equipment 104 151
Proceeds from disposal of associate(s) 0 1,700
Purchase of computer software (328) (358)
Purchase of property, plant and equipment (3,406) (8,969)
Net cash used in investing activities (3,630) (7,476)

Cash flows from financing activities
Proceeds on issue of shares 2,712 1,976
Proceeds from borrowings 2,040 3,055
Repurchase of shares (1,704) (1,886)
Payments of obligations under finance leases 0 (281)
Repayment of lease liabilities (6,130) 0
Repayments of borrowings 0 (700)
Repayment of interest rate swaps (225) (86)
Net cash (used in)/generated by financing activities 11 (3,307) 2,078

Net cash flows 668 137
Cash and cash equivalents at beginning of year 29 (108)
Cash and cash equivalents at end of year 11 697 29

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.

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NZPM GROUP LIMITED ANNUAL REPORT 2020