ar11-lr-final

Statements of Cash Flows
For the 52 WEEK period ended 31 July 2011 (52 WEEKS) (52 WEEKS) (52 WEEKS) (52 WEEKS)
GROUP GROUP PARENT PARENT
NotE 2011 2010 2011 2010
Cash flows from operating activities
$000 $000 $000 $000
Cash received from customers 1,668,968 1,687,894 – –
Dividends received from subsidiary companies – – 90,246 101,139
Interest income 1,896 927 7,370 1,240
Payments to suppliers and employees (1,525,886) (1,529,539) (4) (3)
Income tax paid (36,235) (22,181) – –
Interest paid (11,833) (7,950) (7,370) (1,240)
Net cash flows from operating activities 96,910 129,151 90,242 101,136
Cash flows from investing activities
Proceeds from sale of property, plant and equipment and computer software 5,567 401 – –
Staff share purchase advances repaid 622 84 – –
Advances (to)/from subsidiary companies – – 1,033 (97,317)
Dividend received from associate 27 1,911 4,263 – –
Purchase of property, plant and equipment and computer software (65,896) (57,280) – –
Refund of staff share purchase advances (29) (2) – –
Warranty claims 28 (59) – – –
Net cash flows from investing activities (57,884) (52,534) 1,033 (97,317)
Cash flows from financing activities
Net proceeds from fixed rate senior bond – 98,400 – 98,400
Repayment of term bank borrowings (25,000) (25,000) – –
Purchase of treasury stock 30 (1,042) – – –
Treasury stock dividends received 33 416 940 – –
Dividends paid to parent shareholders (91,279) (102,217) (91,279) (102,217)
Dividends paid to minority shareholders 32 (331) (266) – –
Net cash flows from financing activities (117,236) (28,143) (91,279) (3,817)
Reconciliation of Operating Cash Flows
For the 52 WEEK period ended 31 July 2011 (52 WEEKS) (52 WEEKS) (52 WEEKS) (52 WEEKS)
GROUP GROUP PARENT PARENT
NotE 2011 2010 2011 2010
$000 $000 $000 $000
Profit after tax 78,145 60,540 90,244 101,137
Non-cash items
Depreciation and amortisation expense 5 39,772 40,937 – –
Share based payment expense 31 1,640 2,609 – –
Interest capitalisation (61) 57 312 80
Movement in deferred tax 24 (1,740) 23,237 – –
Changes in fair value of financial instruments 4 (194) 282 – –
Share of surplus retained by associate 27 (3,575) (2,808) – –
Total non-cash items 35,842 64,314 312 80
Items classified as investing or financing activities
Net (gain)/loss on sale of property, plant and equipment (462) 1,623 – –
Canterbury earthquakes 12 – – – –
Supplementary dividend tax credit 23 1,033 1,078 1,033 1,078
Total investing and financing adjustments 571 2,701 1,033 1,078
Changes in assets and liabilities
Trade and other receivables (7,432) 8,076 – –
Inventories (8,057) 3,337 – –
Intercompany advances – – (1,392) (1,030)
Trade and other payables 7,348 (15,950) – 949
Provisions (5,359) (5,774) – –
Income tax (4,148) 11,907 45 (1,078)
Total changes in assets and liabilities (17,648) 1,596 (1,347) (1,159)
Net cash flows from operating activities 96,910 129,151 90,242 101,136
Net cash flow (78,210) 48,474 (4) 2
Opening cash position 101,226 52,752 2,530 2,528
Closing cash position 18 23,016 101,226 2,526 2,530
The accompanying statement of accounting policies and notes to the financial statements on pages 35 to 74 form an integral part of the financial statements.
The accompanying statement of accounting policies and notes to the financial statements on pages 35 to 74 form an integral part of the financial statements.
FINANCIAL STATEMENTS 32
FINANCIAL STATEMENTS 33