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investor centre |
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| Group Cash Flow Statement |
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| For The Year Ended 31st December, 2004 |
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Group |
Company |
|
2004 |
2003 |
2004 |
2003 |
| |
N'000 |
N’000 |
N'000 |
N’000 |
| Cashflow from operating activities |
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| Operating profit before taxation |
2,418,817 |
2,672,267 |
2,200,474 |
2,895,800 |
| Equity interest in undistributed earnings of associaated companies(net of tax) |
(307,916) |
(451,927) |
(307,916) |
(451,927) |
| Depreciation of fixed assets |
1,301,244 |
1,135,117 |
1,010,543 |
932,605 |
| Provision for unrefunded retirement benefit |
200,000 |
298,605 |
200,000 |
298,605 |
| Disposal of a division |
(538,661) |
- |
(538,611) |
- |
| Profit on disposal of certain asets |
(178,043) |
(1,422,742) |
(163,245) |
(1,401,778) |
| Interest on loans/overdrafts |
854,714 |
1,157,353 |
609,279 |
935,462 |
| Cash flow before changes in working capital |
________ 3,750,155 |
________
3,388,673 |
________
3,010,474 |
________
3,208,767 |
| Changes in working capital |
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| (Increase)/decrease in stocks |
(271,404) |
(746,749) |
(102,282) |
103,161 |
| (Increase)/decrease in debtors |
(68,607) |
160,349 |
(754,002) |
(184,771) |
| (Decrease)/Increase in creditors |
(1,683,863) |
1,171,815 |
(808,278) |
(86,660) |
| Decrease in other provisions |
811,021 |
(293,079) |
476,398 |
(215,239) |
| Cash flow after changes in working capital |
________
2,537,302 |
________
3,681,010 |
________
1,822,310 |
________
2,825,258 |
| Tax paid |
(357,954) |
(133,697) |
(230,328) |
(105,876) |
| Payment of retirement benefits |
(283,823) |
(219,620) |
(169,940) |
(213,873) |
| Net cash flow from operating activities |
________
1,895,525 |
________
3,327,693 |
________
1,422,042 |
________
2,505,508 |
| Investing activities |
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| Purchase of fixed assets |
(1,724,854) |
(2,480,563) |
(1,273,501) |
(1,294,944) |
| Proceeds from sale of rights issues |
2,984,297 |
- |
2,839,483 |
- |
| Proceeds from disposal of a division |
768,190 |
- |
768,190 |
- |
| Proceeds from disposal of certain assets |
329,600 |
2,036,395 |
296,965 |
1,983,698 |
| Dividend recieved |
293,558 |
402,281 |
293,558 |
402,281 |
| Net Investment in associated and other companies |
(138,074) |
206,155 |
(250,735) |
188,564 |
| Cash flow from investing activities |
________
2,512,717 |
______
164,268 |
________
2,673,960 |
________
1,279,599 |
| Cash flow from financing activities |
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| Long term debts granted |
95,305 |
- |
(190,194) |
- |
| Dividend paid |
(421,838) |
(256,963) |
(421,838) |
(256,963) |
| Dividend paid to minority interest |
(51,104) |
- |
- |
- |
| Withholding tax paid |
(54,518) |
- |
(54,518) |
- |
| Interest on loans/overdrafts |
(854,714) |
(1,157,353) |
(609,279) |
(935,462) |
Net cash flow from financing activities |
_________
(1,286,869) |
_________
(1,417,316) |
_________
(1,275,829) |
_________
(1,195,425) |
| Net increase/(decrease) in cash and cash equivalent |
3,121,373 |
2,074,642 |
2,820,173 |
2,589,681 |
| Cash and cash equivalents at the beginning of the year |
(2,831,865) |
(4,906,507) |
(1,956,618) |
(4,546,299) |
Cash and cash equivalents at the end of the year |
______
289,508 |
________
2,831,865 |
_______
863,555 |
________
1,956,618 |
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