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CONDENSED CONSOLIDATED INTERIM CASH FLOW STATEMENT (UN-AUDITED)<br />
FOR THE SIX MONTHS PERIOD ENDED DECEMBER 31, 2010<br />
6 months to<br />
<strong>Dec</strong>ember 31, June 30,<br />
2010 2009<br />
(Rupees in thousand)<br />
CASH FLOW FROM OPERATING ACTIVITIES<br />
Loss before taxation (3,900,450) (1,755,611)<br />
Adjustment of non cash items:<br />
Depreciation and amortisation 990,472 762,748<br />
Finance cost 1,284,594 963,734<br />
(Profit)/loss on sale of operating assets 6,798 (23,328)<br />
Deferred grant recognised during the period (25,939) –<br />
Provisions and write off (note 22) 1,542,537 18,273<br />
Provision for employees’ retirement benefits 4,052 6,655<br />
3,801,858 1,728,082<br />
(98,593) (27,529)<br />
Changes in working capital:<br />
<strong>Dec</strong>rease/(Increase) in trade debts 2,002,607 (384,933)<br />
<strong>Dec</strong>rease/(Increase) in contract work in progress 8,004 (9,527)<br />
<strong>Dec</strong>rease in stores, spares and loose tools 19,203 336,191<br />
(Increase)/<strong>Dec</strong>rease in advances, deposits,<br />
prepayments and other receivables (285,259) 561,588<br />
Increase in cross currency and interest rate swap liability 160,550 43,813<br />
(<strong>Dec</strong>rease)/Increase in trade and other payables (1,159,330) 235,153<br />
745,776 782,285<br />
Employees’ retirement benefits paid (6,661) –<br />
Taxes refund/(paid) 37,786 (28,958)<br />
Cash flows from operating activities 678,308 725,798<br />
CASH FLOW FROM INVESTING ACTIVITIES<br />
Property, plant and equipment additions (including finance cost) (1,920,356) (2,809,024)<br />
Intangible assets additions (4,300) –<br />
Sale of property, plant and equipment 10,000 163,656<br />
Long term deposits receivable – (paid)/received (34,412) 213<br />
Long term prepayments 7,811 8,815<br />
Advance against purchase of shares (85,000) –<br />
Cash flows from investing activities (2,026,257) (2,636,340)<br />
32<br />
WATEEN TELECOM LIMITED half yearly report dec ‘10