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investor centre |
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| Group Cash Flow Statement |
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| For The Year Ended 31st December, 2005 |
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Group |
Company |
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2005 |
2004 |
2005 |
2004 |
| |
N'000 |
N’000 |
N'000 |
N’000 |
| Cashflow from operating activities |
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| Operating profit before taxation |
2,724,842 |
2,418,817 |
2,308,924 |
2,200,474 |
| Equity interest in undistributed earnings of associaated companies(net of tax) |
(459,485) |
(307,916) |
(459,485) |
(307,916) |
| Depreciation of fixed assets |
1,486,506 |
1,301,244 |
1,097,332 |
1,010,543 |
| Provision for unrefunded retirement benefit |
200,000 |
200,000 |
200,000 |
200,000 |
| Provisions no longer required |
(182,031) |
- |
(182,031) |
- |
| Profit on disposal of a division |
- |
538,611 |
- |
538,611 |
| Profit on disposal of certain asets |
(6,461) |
(178,043) |
(31,796) |
(163,245) |
| Interest on loans/overdrafts |
318,896 |
854,714 |
(90,950) |
609,279 |
| Cash flow before changes in working capital |
________ 4,082,267 |
________
3,750,155 |
________
2,841,994 |
________
3,010,474 |
| Changes in working capital |
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| (Increase)/decrease in stocks |
(1,519,222) |
(271,404) |
(297,800) |
102,282 |
| (Increase)/decrease in debtors |
(750,220) |
68,607 |
(611,607) |
(754,002) |
| Increase/Decrease in creditors and accruals |
(106,094) |
1,683,863 |
(414,452) |
(808,278) |
| Increase/decrease in other provisions |
109,099 |
811,021 |
(135,072) |
476,398 |
| Cash flow after changes in working capital |
________
2,113,018 |
________
2,537,302 |
________
2,807,567 |
________
1,822,310 |
| Tax paid |
(928,195) |
(357,954) |
(731,335) |
(230,328) |
| Payment of retirement benefits |
(460,610) |
(283,823) |
(456,010) |
(169,940) |
| Net cash flow from operating activities |
________
724,213 |
________
1,895,525 |
________
1,620,222 |
________
1,422,042 |
| Investing activities |
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| Purchase of fixed assets |
(3,178,556) |
(1,724,854) |
(2,768,289) |
(1,273,501) |
| Proceeds from disposal of a division |
- |
768,190 |
- |
768,190 |
| Proceeds from disposal of certain assets |
74,192 |
329,600 |
45,462 |
296,965 |
| Dividends recieved |
215,031 |
293,558 |
215,031 |
293,558 |
| Net Investment in associated and other companies |
127,665 |
(138,074) |
(365,619) |
(250,735) |
| Cash flow from investing activities |
________
(2,761,668) |
________
(471,580) |
________
(2,873,415) |
________
(165,523) |
| Cash flow from financing activities |
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| Long term debts granted/(repaid) |
536,698 |
95,305 |
421,611 |
(190,194) |
| Proceeds from sale of rights issues |
1,651,522 |
2,984,297 |
1,651,522 |
2,839,483 |
| Dividend paid |
(909,837) |
(421,838) |
(856,576) |
(421,838) |
| Dividend paid to minority interest |
(105,577) |
(51,104) |
- |
- |
| Withholding tax paid |
(97,098) |
(54,518) |
(97,098) |
(54,518) |
| Interest (on loans & overdrafts) received |
(318,896) |
(854,714) |
(90,950) |
(609,279) |
Net cash flow from financing activities |
_________
(1,286,869) |
_________
(1,697,428) |
_________
(1,210,409) |
_________
(1,563,654) |
| Net increase/(decrease) in cash and cash equivalent |
(1,280,643) |
3,121,373 |
(42,784) |
2,820,173 |
| Cash and cash equivalents at the beginning of the year |
289,508 |
(2,831,865) |
863,555 |
(1,956,618) |
Cash and cash equivalents at the end of the year |
________
(991,135) |
________
289,508 |
_______
820,771 |
_______
863,555 |
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