N'000

N'000

N'000

N'000

Operating profit before taxation

3,893,668

2,724,842

2,460,541

2,308,924

Amortisation of intangible assets

33,465

33,444

33,465

33,444

Extraordinary items

866,165

-

(1,213,835)

-

Deferred tax credit on extraordinary items

-

-

480,000

-

Share of post tax profit of Associates

(490,220)

(459,485)

(490,220)

(459,485)

Dividend income

(562)

(215,031)

(285,893)

(215,031)

Depreciation of fixed assets

1,802,616

1,486,506

1,376,205

1,097,332

Net adjustment to fixed assets

214,218

-

349,665

-

Provision for dimunition in value of investments

-

-

800,000

-

Provision for assets impairment on closed bread plant

133,965

-

133,965

-

Provision no longer required

-

(182,031)

-

(182,031)

Profit on disposal of certain assets

(1,169,289)

(6,461)

(65,580)

(31,796)

Profit on disposal of investment

(866,165)

-

(866,165)

-

Interest on loans and overdrafts

550,032

693,510

184,429

212,345

Interest received

(221,067)

(374,615)

(113,029)

(303,295)

Cash flow before changes in working capital

4,746,826

3,700,679

2,783,548

2,460,407

Decrease/(increase) in stocks

1,728,390

(1,519,221)

(143,034)

297,800

(Increase)/decrease in debtors and prepayments

(455,910)

(750,220)

363,899

(611,607)

Increase in creditors and accruals

478,290

106,094

173,339

414,452

Increase/(decrease) in provision for liabilities & charges

251,676

160,655

207,360

(168,516)

Cash flow after changes in working capital

6,749,272

1,697,987

3,385,112

2,392,536

Tax paid

(622,265)

(928,195)

(449,130)

(731,335)

Net Cash flow from operating activities

6,127,007

769,792

2,935,982

1,661,201

Purchase of fixed assets

(2,604,594)

(3,178,556)

(2,158,679)

(2,768,289)

Proceeds from disposal of certain assets

2,072,852

74,192

644,900

45,462

Proceeds from disposal of investment in an associate

1,100,000

–

1,100,000

–

Dividends received

562

215,031

285,893

215,031

Interest received

221,067

374,615

113,029

303,295

Net investments in associated and other companies

39,981

82,083

(445,103)

(406,598) (2,611,099)

Cash flow from investing activities

829,868

(2,432,635)

(459,960)

Cash flow from financing activities

Loans (repaid)/granted

(478,432)

536,700

(170,182)

421,611

Proceeds from rights issues

-

1,651,522

–

1,651,522

Dividends paid

(1,055,127)

(1,112,512)

(1,086,088)

(953,674)

Interest on loans and overdrafts

(550,032)

(693,510)

(184,429)

(212,345)

Net Cash from financing activities

(2,083,591)

382,200

(1,440,699)

907,114

Net increase/(decrease) in cash and cash

Equivalents

4,873,284

(1,280,643)

1,035,323

(42,784)

Cash and cash equivalents at the beginning

of the year

(991,135)

289,508

820,771

863,555

Cash and Cash equivalents at the end of the year (note 17)

3,882,149

(991,135)

1,856,094

820,771