Page 33 - NZPM Annual Report 2017

CONSOLIDATED STATEMENT OF CASH FLOWS

For the year ended 31 March 2017

2017 2016
Note
$’000 $’000
Cash flows from operating activities:
Cash receipts from customers 201,411 177,760
Interest received 48 14
Dividends received from associates 153 137
Other income received 1 2
Taxation paid (1,339) 0
Cash paid to suppliers and employees (190,694) (171,318)
Interest paid (756) (1,188)
Rebate dividends and dividends paid (1,423) (519)
Net cash generated by operating activities 7 7,401 4,888

Cash flows from investing activities:
Proceeds from sale of property, plant and equipment 126 63
Acquisition of intangibles (643) (1,738)
Acquisition of property, plant and equipment (1,316) (1,794)
Cash paid on disposal of subsidiaries 0 (1,948)
Net cash inflow on disposal of subsidiaries 8 0 29,798
Net cash (used in)/generated by investing activities (1,833) 24,381

Cash flows from financing activities:
Proceeds from issue of shares 3,025 2,791
Payment for share buy-back (4,198) (2,173)
Repayment of finance lease (1,032) (1,149)
Repayment of borrowings (2,000) (26,500)
Repayment of interest rate swap (214) (548)
Net cash used in financing activities (4,419) (27,579)

Net increase in cash and cash equivalents 1,149 1,690
Cash and cash equivalents at the beginning of year 337 (1,353)

Cash and cash equivalents at the end of the year 1,486 337
The accompanying notes form part of and are to be read in conjunction with these financial statements.

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